Registering an online business in India can be done in two ways, either as a public company or a private company.
Registering an online business in India:Registering an e-commerce business as a sole –proprietorship is the easiest type for all beginners as this type of a legal entity requires less compliances and formalities. As a sole proprietor, a person is responsible for all types of legal transactions and less difficulties. An e- commerce business can be registered at the nearest municipal office with the required undertakings, forms and prescribed fees.
Cost and Application for registering an online business:A current account in any bank in the name of the business that you wish to start has to be opened and the company has to be registered .A company has to be registered with the following steps:
- Form 1 has to be filled for availability or change in company’s name. Ministry of corporate affairs provides four different forms; the best option can be choosed as per the requirements of the company.
- Form 18 has to be collected from local municipality office or downloaded from the ministry of corporate affairs website. This form mandates declaration of office address of your e-commerce establishment.
- Form 32 has to be filled and the appointment of directors, secretaries and managers has to be declared.
After filling these forms, the ministry approves the status of incorporation and registration of the company and an e-mail is sent after the approval.
Steps for Registration and documents required:Upon approval of the company’s name, the company has to be incorporated within 6 months. The following procedure has to be followed:
- Make an application to the government authority to obtain a Directors Identification Number.
- Digital Signatures have to be obtained of the Directors for the proposed company.
- An approval of company’s name is taken from the Registrar of companies.
- · Company’s registration has to be completed with the submission of Memorandum of Association and Articles of Association.
- Application for VAT has to be made in the commercial tax office.
- Apply for professional tax at the Profession Tax Office.
- Application for provident fund from the Provident Fund Organisation.
- After all the applications have been made, a certificate of incorporation is received.
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