Mandatory Registrations for Business

  • Setindiabiz Team
  • July 18, 2023
Mandatory Registrations for Business
Every startup has to operate under various laws to regulate trade and service in view of tax to be collected from such activities. With the issuance of certificate of incorporation a legal entity is created which is capable of being identified separately from that of the people who promoted the entity.
Some of the mandatory registrations based on the nature and location of business is discussed here, However on the basis of actual business transactions additional licenses may be required to be obtained, such licenses are discussed separately, these are

Mandatory Registrations for Business

  • Pan Card is mandatory for all business forms
  • Tan number is essential to deposit TDS deducted
  • Shops and Establishment Act is Applicable in most states
  • For doing Sales across states CST is mandatory
  • Trading in Transferable development Rights
  • Service tax is again mandatory on service provided

Our Registration Services includes following

Company is assessed separately from its owners by the income tax department. Pan is an unique identification number allotted by Income Tax Department Some states like Maharashtra, Karnataka etc has imposed tax on employment as professional tax. Registration and payment of tax is mandatory. The DGFT allots a unique code to persons engaging in the business of foreign trade by way of import or export. While making payment to third parties tax has to be deducted as TDS at specified rate. TAN number id the unique number of TDS detector. In most of the states it is mandatory and non-compliance results into severe penalty which may lead to registration of a criminal case. In most of the states it is mandatory and non-compliance results into severe penalty which may lead to registration of a criminal case.

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Shops & Establishment Act Registration

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All new establishments must register with the office of the Labour Commissioner (Under the applicable state Shops & Establishment Act) within 30 days of their incorporation for companies or LLPs or the start of business for proprietorships or other businesses.
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