Formation of Private Limited company in india

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After getting compnay incorporated as Private limited and obtaining certificate of incorporation one has to undertake the following statutory requirement completed.

  • Obtaining the PAN : Permanent Account Number: Submit an application in the specified form
  • Submit an application in the specified form – form no. 49B to the Assistant Commissioner of Income tax (TDS) to obtain tax deduction account number under section 203 A of the Income Tax Act, 1961. Needed for to compliance with statutory obligations regarding deduction and remittance of
    withholding tax (Tax deduction at source) on various payments like salaries,rent, professional charges, payment to contractors, interest, dividends etc.
  •  Registration Under Shops and Commercial Establishment Act Submit an application in the specified form – form ‘A’- to the concerned authority to obtain registration under Karnataka Shops & Commercial Establishment Act.
  • Registration under Professional Tax – Employees & Employers submit an application in specified forms – form 1 and form 2 – to the jurisdictional Professional Tax Officer to obtain registration under the Karnataka Tax on the Professions, Traders, Callings and Employment Act, 1976 both as a business entity and as an employer.
  • Registration under the CST and Karnataka VAT submit an application in specified forms -form A and form 1- to the jurisdictional Commercial Tax Officer to obtain registration – under The Central Sales Tax (Registration & Turnover) Rules, 1957 and Karnataka Value Added Tax Rules.
  • Obtaining the Import Export Code Obtain the code from the Directorate General Foreign Trade: Submit an application in the specified form – Appendix I- to The Joint Director General of Foreign Trade (“DGFT”) to obtain the Importer / Exporter Code needed for import and export transactions.
 
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