Minimum requirements to start an it company


I want to know what are the bare basics to start a company in india.

I am a software developer in Goa working in a startup IT company, which is owned by a foreigner.

Presently we have been facing loads of issues including no payments and delayed management actions.

Can anyone help me with providing the minimum requirements for a Indian IT company?
Whether a company can run without having provident fund? whether a company can run without having TAX ID?

Please help
 

 
Reply   
 
Corporate & Tax Lawyer

DEAR SIR, 

The basic requirement for formation of company in India is are follows

1. Minimum of 2 directors

2. Minimum of 2 shareholder

3. where the director or shareholder can be the same person

4. minimum share capital Rs. 100000 ( INR one lac)

5. Director identification number

6. Digital signature of one director

With the passing of Company Act, 2013 the opportunity for incorporation of company by individual be more easy. Any individual can form one person company as a director where the requirement limits for director identification number and share holder is only one.

Where the company exceed the limits of 10 employees , the requirement for taking provident fund becomes mandatory. 

After incorporation, For running their business obtaining PAN  for a company is mandatory, and for filing their income tax return, obtaining tax id is mandatory. 

if any further query mail to me askcommercials@gmail.com

 

 
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Partner

Hi,

Please visit following links to know the company registration procedure and government cost to register the same:


http://www.ngoandtaxconsultant.in/2013/10/company-registration-procedure.html

 

http://www.ngoandtaxconsultant.in/2013/10/company-registration-cost.html

 

Hope it helps you.

 
Reply   
 
Partner

Hi,

Please visit following links to know the company registration procedure and government cost to register the same:


http://www.ngoandtaxconsultant.in/2013/10/company-registration-procedure.html

 

http://www.ngoandtaxconsultant.in/2013/10/company-registration-cost.html

 

Hope it helps you.

 
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