How to Form a Company in New Delhi

04 Dec, 2020

E-commerce and other businesses are very beneficial nowadays. The e-commerce business has been burgeoning at a rapid speed in India.

India is set to take more advantage of the system of e-commerce equally like the other countries. They are accepting the changes on a colossal scale. With the increasing reach of the internet all over the world, the online shopping has become extremely popular among the consumers, and the low cost of maintaining of the online websites, the e-Commerce business is gaining a lot, and all this is possible with the help of new online business.

After you have done a complete market research of your competitors along with the market analysis of your competitor market, you should get a general and sincere idea of how you are looking forward to Forming a Company in Delhi.

Get Your Company Registration in New Delhi

For an online refresh start, you have to get your company name registered with the Ministry of corporate affairs. This registration with MCA is important so that a secured payment gateway could be well established for your business.

Here, we bring you information about three ways you can get your Company Registration in Delhi-

Any e-commerce business which is looking forward to accepting the online payments should get the company registered in Delhi with the MCA so as to generate authentic payment platform on the online website.

For the beginners, it is easy to set up a sole proprietorship form of business ownership as the legal compliances are low and the setting up mechanism is quite hassle-free. The proprietor and his business are a single legal entity, usually. However, the owner and the company have a separate legal entity in case of a company formation of private limited, public limited and even a partnership form of business. So, it also helps in reducing your tax burden as you will not have to pay corporate taxes in case of a sole proprietorship. You will be eligible only for the single income tax return. Thus, reducing your tax burden.

The second best method to get your company registered is with the help of the private limited company, Limited liability partnership or a public limited company. You can choose the form of business ownership based on nature as well as the scale of your operations. The first thing that you need to do here is to create your business current account to collect the profits and losses for your business concern. All the transactions will be done in your company account and not through your personal bank account.
The third method is to obtain Business Licenses: Depending on the nature and scale of your business, your business might need different types of registrations and licenses requirements. The business licenses required for an online portal depend on the kind of products that are being sold at the online site. Below are listed some of the requirements
- Shops and Establishment Act: This requirement is essential if you wish to set up a reliable payment gateway for your website. Also, this requirement is essential for your business if you wish to open a physical store and also employ people.
- CST or VAT: When selling the good and services online, these are the fundamental taxes that you are supposed to pay but only if you’re annual turnover exceeds five lacs only.
- Service Tax: This basic tax is necessary to pay if you are selling online and your annual turnover exceeds only Rs. Ten Lakhs.
- In some cases, the professional tax is also supposed to be paid.