With over 50 million SMEs, India Inc faces accounts issues regularly. To put things into perspective, there were more than 0.5 million Registration of company done last year itself in India. Registration of company in India is a good indicator of economic development and there is no denying the fact that India happens to be one of the fastest growing economy across globe.
With number of Registration of company in India increasing, it is equally important to understand the process to register a company in India. To register a company in India, the best way is to contact a professional Chartered Accountant or Online Accounting Company and try to understand what kind of company structure would be the best suited for your business need. Typically it takes about 10-15 working days for Registration of Company in India, though the time to register a company differs from state to state
Every entrepreneur should also understand that there is regular need of compliances to be done after registration of company is completed. There is a requirement of Annual Audit and IT filing post Registration of Company is done and there is a cost attached to it.
As per an estimate about 20% of the registered companies do not do any compliances which basically means that there is heavy fines which could be levied on such companies.
As a professional, we advise any entrepreneur to only get the registration of company done if you are actually planning to run the company.
For further support on Company Registration, please go to Company Registration in India