Being an industrial promoter one is always doubtful on starting a private limited company as a lot of money is involved in doing so. Five years back even we at 1daycompanyinc.com would have said that but, with the internet being able to provide crystal clear prices, one can easily start and operate a private company in India easily. If you are from Delhi then you have two questions like:
We at 1daycompanyinc.com are always here to guide you as this is what we are best at. We provide you with all the details and procedures right at one stop. So let’s take you through the ropes on how and what it takes to operate a private limited company. Let’s begin with the start-up.
Over the years getting your company registered in India was costly but, over the years it has reduced likewise has the complex procedure thanks to the new INC-32 process. At present, it shall cost you around Rs. 7000 as government fees that you will incorporate along with minimum authorized Rs. 1 lakhs capital, like most of the start-ups usually do, plus some legal guidance and a charted accountant. And, yes as per their expertise, they will cost accordingly, this is the offline cost though. Now if you go online, where the incorporation fees are low, Rs. 7000 is all you need and no minimum paid-up capital required at all.
Though as a private limited company in India, one does not require any registration, a government registration as an offering is a good idea. If you are going to offer a service or a product, you will have to charge some sort of customer fees for which you shall have to pay a service tax once your turnover goes above Rs. 9 lakes. Likewise, those selling goods require a VAT registration. To open a current account you will also require a Shops & Establishments license, Professional Tax registration and if you have employees some more taxes as well.
It is important for all companies to make declarations to the Ministry of Corporate Affairs on beginning your company, hire an auditor, spend time at board meetings, annual filing of directors and much more than this. The effort may not be much but, yes it will cost you some time.
Auditing and Accounting
As our topic is what does it cost to start and operate a private limited company in India, the cost is clear now how to operate. Now once your private limited company is up and running, maintaining books is definitely on your hands. Now according to the quantity of entries, charges will differentiate, but still, you can expect to pay at least Rs. 2500 monthly. Proprietorships and partner run companies can skip auditing but, its compulsory for private firms. So here the total requirement is Rs. 15,000, if not less.
The Ministry of Corporate Affairs keeps track of the aspects of any firm. On changing any of them, you require informing the Ministry. It can be simple work as changing directors or even moving of the office. After, all these also cost. Even if you are a small business, you still shall require a CS, if not full-time part-time. Even though you might require only a few times through the entire year but they do cost.
Hence, 1daycompanyinc.com is here to provide you with much guidance like OPC registration, LLP registration, a guide to getting your private limited company up and running. Therefore, if you are on the lookout of how to start Register Company in Delhi or how to start a new business in Delhi NCR then we are here to guide you in the right direction.