A Complete Guide to Start a New Company in India Aspiring to start a company of your own is indeed quite ambitious. But getting stuck into a web of legalities can be daunting at times. At such times, having a reassuring support can be an immense relief. My Tax Advisor is a one-stop solution to all your financial and legal dilemmas. Based in Mumbai, My Tax advisor aims to offer you intriguing, out-of-the-box ways to help you start your new company. In this article, we’ll dive into exploring legal and financial know-hows that are necessary to start a company in India. STEPS TO BEGIN A NEW COMPANY: Starting a company isn’t an overnight process, it takes a lot of paperwork and careful planning to affirm a strong foundation of a company. Here are 5 steps that will help you ease your process of registering your company in India. Choose your company name: Although it might sound naïve, but having a good company name is the most essential step in starting a company. The customers will remember the name of your company before anything else, take an example of Uber, Amazon or Jio. Having an arguably long name won’t be ideal. It’s imperative to choose a company name that is easier to remember, pronounce and promote to your customers. There are certain clauses that need to be followed while selecting a company name. Few of them are as follows:
The name should reflect the vision and mission of your business. It should be distinctive enough to catch the attention of your customers. Generic names like the name of any state or an area cannot be used as a company name.
My TaxAdvisor offers you legal help in selecting an appropriate name for your company that tackles all the legal discrepancies. Register your company’s DLC: DSC (Digital Signature Certificate) play instrumental role in starting your company, especially in the era of digital advancements. Indian IT Act 2000 has made provisions to enhance the security and originality of your company by allowing you to in register the company’s official signatures in digital form. Acquire your DIN: DIN (Director Identification Number) is a unique number allotted by the MCA (Ministry of Corporate Affairs), India to a new or an existing director of the company. With this 8-digit number having a lifetime validity, the details of the director are saved in a centralised database. You can log on to MCA portal and apply to acquire your DIN.