To set up a private limited company, you will need to follow these steps:
Choose a company name: Choose a unique name for your company that is not already in use by another business. You will need to register your company name with the relevant authorities.
Obtain the necessary approvals and licenses: Depending on the nature of your business, you may need to obtain various approvals and licenses before you can start operating. This may include permits for manufacturing, trading, or providing services.
Register your company: You will need to register your company with the relevant authorities, such as the Ministry of Corporate Affairs. This will typically involve filling out some paperwork and paying a fee.
Obtain a permanent account number (PAN) and a tax deduction and collection account number (TAN): These are both required for tax purposes.
Open a business bank account: You will need to open a business bank account in order to manage your company's financial transactions.
Follow other legal requirements: There may be other legal requirements that you need to follow, such as obtaining insurance or registering for taxes. It is important to familiarize yourself with these requirements in order to ensure that your business is operating legally.
It is a good idea to seek legal and financial advice when setting up a private limited company, as the process can be complex and there are many considerations to take into account.