Dear Friends
I wished to know the details on the kind of registrations needed, whether compulsory or optional, when starting an IT company.
The software developed may or may not be sold as a product and will also have a service part as training, implementation efforts and after sales service or maintenance .
The company will also deal in trading activities of computer equipment and peripherals.
The initial employee strength would not be more than 10.
The company also plans to do business within India (i.e. outside our state of Andhra Pradesh) and also abroad (initial plans are for middle east)
Any and every suggestion and pointers are and will be highly loved and appreciated.
Best Regards
Shyam Sunder Vyas
Nishant Agrawal
1. Do you plan to run the business in your name? If yes, then no entity agreement is required. If you plan to work as a company, you need to incorporate a company. Consult a CA Firm for this.
2. As you plan to sell stuff, you might be liable to sales tax. You need a sales tax registration. Consult a CA firm for this.
3. The services you impart might be liable to service tax. You need service tax registration for the same. (if the amount of receipts exceed 10lac p.a.). Consult a CA firm for this.
4. You need a current account with a bank. You can directly approach an appropriate bank.
5. You might need registration under Shops and Establishments Act. I don’t have much idea about this. You need to contact a labor lawyer for this.
Shyam Sunder Vyas
thanks Nishantji.
Sai Rodinhood Pothuri
we are based in hyderabad and we are quite happy with our taxation work taken care by our CA. Get in touch with him
https://yellowpages.sulekha.com/hyderabad/balachandra-rao-cvs-co-himayat-nagar-hyderabad_contact-address.htm?business=mpm
otherwise if you want me then i can introduce you to him. any thing works..
Thanks
Sai
Shyam Sunder Vyas
Is registration with STPI a must. What benefits will an entity gain with it?
Sai Rodinhood Pothuri
For Software development and Software Exports its better to register with STPI, its like a governing council and to be registered in it is like making our self genuine. coming to benefits i don’t have any info relating to it. but my suggestion is if we have to be genuine its good to register with STPI
Thanks
Sai