HOW TO REGISTER NEW BUSINESS PLAN IN DELHI
Introduction OF Business plan
Starting a new business in Delhi, the capital city of India, is an exciting endeavor. Delhi offers a vast market, a skilled workforce, and a dynamic business environment. Registering a new business involves several steps to ensure it is legal and compliant with local regulations. In this guide, we will walk you through the process of registering a new business in Delhi.
Business Idea and Plan: Start with a well-defined business idea and a comprehensive business plan. Your plan should include market research, financial projections, and strategies for growth.
Choose a Business Structure: Decide on the legal structure of your business, such as sole proprietorship, partnership, LLP, private limited company, or others. Your choice affects taxation and liability.
Business Name: Choose a unique and available name for your business. Ensure it complies with the Companies Act, 2013, if you plan to register a company.
Digital Signature Certificate (DSC): Obtain a DSC for online document filing. DSCs are issued by certifying authorities and are necessary for certain registrations.
Director’s Identification Number (DIN): If registering a private limited company, apply for DIN for all proposed directors. This can be done through the MCA website.
Registration with Government Authorities
- Permanent Account Number (PAN): Apply for a PAN card for your business entity through the Income Tax Department’s website. PAN is essential for taxation.
Tax Deduction and Collection Account Number (TAN): If your business will deduct TDS, apply for a TAN online. It’s crucial for tax compliance.
Register for Goods and Services Tax (GST): Depending on your business type, register for GST through the GST portal. This is mandatory for many businesses.
Business Location: Choose a physical location for your business. Ensure it complies with local zoning regulations and obtain necessary trade licenses and permits.
Business License and Permits: Identify and acquire the specific licenses and permits required for your business type. These may include FSSAI, drug, or import-export licenses.
Visit the official website : https://des.delhi.gov.in/des/business-register
Company Registration Steps
- Shops and Establishments Act: If your business operates in a shop or commercial establishment, register under the Delhi Shops and Establishments Act to comply with labor laws.
Open a Business Bank Account: Open a dedicated business bank account to keep your finances separate from personal funds.
Incorporation Documents: If you choose to register a company (LLP, Private Limited, or Public Limited), file the necessary incorporation documents with the Registrar of Companies (RoC).
Certificate of Incorporation (COI): Upon successful filing, you’ll receive a COI from the RoC, which serves as proof of your company’s legal registration.
State-Specific Registrations: Depending on your business activities, you may need to register under Delhi state laws, obtain environmental clearances, and comply with sector-specific permits.
How to Register a Company Online
- Director Identification Number (DIN) The Director Identification Number (DIN) is one of the most important documents needed to be submitted to the authorities. …
- Digital Signature Certificate (DSC) …
- Registration on the Ministry of Corporate Affairs (MCA) Portal. …
- Certificate of Incorporation.
How to Register Your Small Business
- No issue certificate from Municipal Corporation.
- Clearance from state pollution control board.
- Clearance from electricity board.
- Tenancy or ownership rights of the land where business is established.
- Copy of partnership deed in case of partnership business.
Compliance and Legal Aspects
- Labor Law Compliance: Ensure compliance with labor laws, including employment contracts, minimum wage regulations, and other labor-related obligations.
Environmental Clearances: Obtain environmental clearances if your business has the potential to impact the environment. Adhere to pollution control regulations.
Import-Export Code (IEC): If you import or export goods, acquire an Import-Export Code (IEC) from the Directorate General of Foreign Trade (DGFT).
Intellectual Property Rights (IPR): Protect your intellectual property through trademark, copyright, and patent registrations to prevent infringement.
Professional Tax Registration: Register for professional tax with the Delhi Municipal Corporation if applicable. Professional tax is levied on professionals and salaried employees.
Ongoing Compliance and Growth
- Employee Provident Fund (EPF) and Employee State Insurance (ESI): If you have employees, register for EPF and ESI schemes to provide social security benefits.
Fire Department NOC: Ensure compliance with fire safety regulations and obtain a No Objection Certificate (NOC) from the Delhi Fire Department if your business premises require it.
Health and Trade Licenses: Certain businesses, especially in healthcare and food sectors, may need health and trade licenses from the local municipal authority.
Signboard License: If your business has signage, obtain a signboard license from the local municipal authority.
Annual Compliance: After registration, comply with annual filing and compliance requirements, including annual returns, accounting records maintenance, and statutory audits.
How auriga accounting help you to register new business in delhi
Auriga Accounting, or any professional accounting and consulting firm, can assist you in registering a new business in Delhi in several ways. Here are some ways in which they can be helpful:
Business Structure Selection: Professional accountants can help you determine the most suitable legal structure for your business, whether it’s a sole proprietorship, partnership, LLP, private limited company, or any other form. They can provide insights into the pros and cons of each structure, taking into consideration your specific business needs and goals.
Compliance with Regulations: Auriga Accounting can guide you through the complex process of complying with various local, state, and national regulations. They will help ensure that you obtain all the necessary licenses and permits, such as GST registration, trade licenses, and environmental clearances, specific to your industry.
Documentation and Filings: Registering a business involves a significant amount of paperwork and documentation. Accountants can assist in preparing and filing the necessary documents with government authorities, including the Registrar of Companies (RoC), GST department, and other relevant agencies.
Tax Planning and Optimization: Professional accountants can help you with tax planning to ensure that your business operates tax-efficiently. They can advise you on managing your finances, claiming deductions, and structuring transactions to minimize your tax liability.
Financial Management: Accountants can assist in setting up robust financial management systems. This includes setting up accounting software, creating financial statements, and helping you manage your business finances effectively.
Bookkeeping and Accounting: Auriga Accounting can handle your day-to-day bookkeeping tasks, including recording transactions, maintaining financial records, and preparing financial reports. This ensures that your financial data is accurate and up to date.
Employee Compliance: If your business has employees, accountants can help you with payroll processing, ensuring compliance with labor laws, and managing benefits and deductions.
Audit and Compliance: They can help with annual compliance requirements, such as filing annual returns, maintaining accounting records, and conducting statutory audits. This ensures that your business remains compliant with all regulatory obligations.
Budgeting and Financial Forecasting: Accountants can assist in creating budgets and financial forecasts to help you plan for the future and make informed decisions.
Risk Assessment and Mitigation: Professionals can help identify potential risks and offer strategies to mitigate them. This includes financial risks, regulatory compliance risks, and other business-related risks.
Business Expansion and Strategy: As your business grows, accountants can provide financial insights and strategic advice for expansion. They can help you make informed decisions about scaling your business and pursuing new opportunities.
Advisory Services: Auriga Accounting can provide valuable financial and business advice based on their expertise and experience. They can help you navigate challenges, make informed choices, and optimize your financial operations.