Step by Step Company Registration Process

Step by Step Company Registration Process First step towards company registration process is to incorporate your business as a Private limited Company or as a Partnership firm under the Company Act. It includes process like obtaining certificate of Incorporation or Partnership registration, PAN and other required documents.

Then the next step of firm registration the business as a startup. This process can be completed through online process. Just log in into Startup India website and fill up the form with details of your business and upload relevant documents.

As the third step documents should be uploaded in PDF format and the documents include the letter of recommendation or support that must be submitted along with the registration form and the description of your business in brief.

Since 3 years startups are exempted from income tax to avail tax benefits and to grab this advantage you must be certified by the Inter-Ministerial Board. So could avail IPR related benefits without requiring any additional certification from IMB. You must make it sure that your business is working towards innovating something unique or is an improvement made within any existing used technology. And also it should not be a reconstruction of an existing business.

After the process of presenting application a certificate of recognition will be issued after the cross checking of your documents and if they find that the required document is not uploaded or wrong document uploaded then you will be forced to pay a fine of 50% of your paid-up capital of the startup with an additional minimum fine of Rs. 25,000. If you have any patent for your business, you can have an 80% reduction in fees.