What is a Startup?
Every single moment, a new startup is set up by Young entrepreneurs and this probably has been one of the major surge in India after Narendra Modi, the Prime Minister of India, launched the startup program. Startup Registration in India is now at a boom and has been one of the fastest-growing forms of organization.
A startup can be defined as a newly set up established business, usually small, started by a few groups of individuals and for the very same reason, a startup business registration is important. A startup is an innovative Creation of an individual or a group of individuals who aims to provide a new product or service that is not being given elsewhere by any other firm. This kind of firm can either create a new product or services or could help in the redevelopment of the old and existing service or product.
Startup Annual Package (For Private Limited Company)
When a Startup is registered as a private limited Company, then it has to follow the compliances which have been laid down by the regulatory bodies. It can include the compliances which are related to either Income Tax, TDS, Registrar of ComPANies (ROC), GST, and other laws that are similar in nature. In this Startup Annual Package, we have listed the minimum of the compliance which is necessary for a private limited Company. These are required even if the Company has no transaction or minimal transaction during the relevant period. This package is listed as follows:
ROC COMPLIANCE
Auditor Appointment (e form ADT-1)
Business Commencement certificate (form INC-20A)
At least 4 Board Meeting Minutes in a year
MSME Return-1 filling (2 No.’s)
ACTIVE form (Company KYC)
DPT-3 Filling (Annually)
KYC of directors (up to 3 Directors max)
BEN-1, BEN-2 Forms
Director’s Report
Annual Filing of ROC forms (AOC-4, MGT-7)
INCOME TAX COMPLIANCE
Preparing a Balance sheet
Income Tax Return of the Company
Calculations of the Advance tax
BOOK-KEEPING
Accounting which is in Tally Accounting Software- It is based on Invoices/bills submitted on a regular basis
PAYROLL SERVICES (Up to 10 Employees)
CTC Structuring & Tax Calculations
Pay-slips
Employee Reimbursements
