If you want to start a business in Assam, you must go through the firm registration process to ensure you follow the law and run your business efficiently. The complete procedures for firm registration in Assam are outlined in this thorough guide. We will talk about the papers you need, the steps you must take, and the most important things you should consider.
Steps for Sole Proprietorship Registration
In Assam, the most accessible type of business to begin is a sole proprietorship. To create a sole business, follow these steps in order:
- Choose a Business Name: Pick a unique name that fits your business’s activities.
- Obtain PAN Card: Get a Permanent Account Number (PAN) in the business owner’s name.
- Open a Bank Account: Establish a business checking account in the owner’s name by submitting the PAN card and proof of address.
- Register for GST: Sign up for the Goods and Services Tax (GST) if your sales exceed the threshold limit.
- Obtain Trade Licence: Get a business licence from the municipal government in your area.
- Professional Tax Registration: You must send your professional tax return to Assam.
Steps for Partnership Firm Registration in Assam
To ensure formal acceptance and practical legitimacy, partnership firm registration in Assam entails several procedures:
- Choose a Partnership Name: Choose a unique name for your business that doesn’t sound like the name of any other business.
- Draft a Partnership Deed: The deed should include the name of the business, the names and addresses of the partners, the profit-sharing ratio, the amount of capital contributed, the tasks and obligations of each partner, the length of the partnership, and terms for resolving disagreements.
- Stamp the Partnership Deed: Printing the property on non-judicial stamp paper with the correct value is required. This step tends to change based on how much money the company has.
- Notarise the Partnership Deed: Get the deed notarized to ensure it is accurate and legally bound.
- Apply for a PAN Card: You should get a PAN card for the partnership company. You can fill out Form 49A online or on paper and then send it in with the necessary papers. Some of these are the partnership agreement and records of the partners’ names and addresses.
- Open a Bank Account: With the PAN card and partnership contract, open a bank account in the name of the partnership business.
- Register with Registrar of Firms: You can apply online or in person at the Registrar of Firms’ office in Assam. Send in Form I, the partnership document that has been signed and notarized, proof of address, and the due registration fees.
- Obtain GST Registration: You must sign up for GST if your yearly sales go over ₹20 lakhs. Fill out the registration form on the GST portal and send in the necessary papers.
- Professional Tax Registration: To sign up for professional tax, visit the neighbourhood office or apply online. Send in the forms and papers that Assam’s rules say you must.
Steps for Limited Liability Partnership (LLP) Registration
A more involved procedure is required to register an LLP. Nonetheless, it provides advantages, including restricted liability and the capacity to operate independently as a legal entity:
- Obtain a Digital Signature Certificate (DSC): A DSC is necessary for online registration for all recognised partners.
- Apply for Director Identification Number (DIN): Use the Ministry of Corporate Affairs (MCA) site to get a DIN for each chosen partner.
- Reserve a Name: Reserve a unique name for the LLP through the MCA’s RUN (Reserve Unique Name) service.
- Prepare LLP Agreement: Write an LLP agreement that spells out each partner’s rights and tasks, the amounts for splitting profits and how the business should run.
- File Incorporation Documents: Along with the required paperwork, you must file Form FiLLiP, the Form for forming an LLP. These are the LLP agreement, proof of address, and proof of name.
- Obtain Certificate of Incorporation: The Registrar of Companies (RoC) will give you a Certificate of Incorporation once everything is okay.
- Apply for PAN and TAN: Get the LLP a PAN and TAN (Tax Deduction and Collection Account Number).
- Open a Bank Account: Use the PAN and the formation papers to open a bank account in the name of the LLP.
- Register for GST: Apply for GST registration if applicable.
- Professional Tax Registration: Register for professional tax as Assam’s regulations require.
Steps for Private Limited Company Registration
Regulating a private limited company is a complicated process that includes many legal and formal steps:
- Obtain a Digital Signature Certificate (DSC): All directors must get a DSC for online files.
- Apply for Director Identification Number (DIN): Use the MCA site to get a DIN for each director.
- Reserve a Company Name: Use the MCA’s SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) Form to ensure the company has a unique name.
- Draft Memorandum and Articles of Association: Write the Memorandum of Association (MoA) and Articles of Association (AoA), which describe the company’s goals, rules, and laws.
- File Incorporation Documents: Including the MoA, AoA, identity and address proof, and any other relevant papers, send in the SPICe+ form.
- Obtain Certificate of Incorporation: The RoC will give you a Certificate of Incorporation once everything is okay.
- Apply for PAN and TAN: Obtain a PAN and TAN for the company.
- Open a Bank Account: Use the PAN and the registration papers to open a bank account in the business’s name.
- Register for GST: Apply for GST registration if applicable.
- Professional Tax Registration: Assam’s rules say you must register for professional tax.
Online Firm Registration in Assam
The government has simplified the process of online firm registration in Assam. It has made things easier for business owners. These are the steps:
- Visit the Official Portal: Access the official Assam Government’s registration portal.
- Create an Account: Register on the portal by creating an account using your email and mobile number.
- Fill out Online Application: Complete the Form with details such as firm name, type, and business activities.
- Upload Documents: Upload the required documents, including identity proof, address proof, and the partnership deed (if applicable).
- Pay Fees: Pay the registration fees online through the portal.
- Submit Application: Submit the completed application form for review and processing.
- Track Application: Track the status of your application online.
- Receive Registration Certificate: Download the registration certificate from the portal upon approval.
Critical Considerations for Firm Registration in Assam
To make sure the online firm registration in Assam goes smoothly, keep the following things in mind:
- Accuracy of Document: To avoid delays, ensure all the papers are correct and up to date.
- Following the Law: Follow all the rules set by the law and get all the necessary licences and registrations.
- Help from Professionals: If you want to get through the registration process quickly, you might want help from law and business experts.
- Updates Often: Keep up with any changes to how you register or the rules you must follow.
Also Read: What is Receipt Note Voucher Used for?
Conclusion
To register a business in Assam, you need to know the exact rules and follow the exact steps for each type of business. Following the steps is very important for creating an officially recognised company entity, whether you choose partnership firm registration in Assam or another form. You can ensure that registering your business in Assam goes smoothly by following this complete guide.
FAQs
What paperwork is necessary for firm registration in Assam?
Proof of name, proof of address, a partnership deed (if one exists), a PAN card, and the appropriate forms are necessary for firm registration in Assam.
How long does it take to set up a business in Assam?
It can take 10 to 15 business days to register a business in Assam, based on how thorough the application is and what kind of business it is.
Can I set up an online business in Assam?
Yes, Assam does have an online process for registering a business through the official government site. It makes the application process and sending in the necessary papers easier.