Key Steps for Setting Up a New Business in Aurangabad

1. Deciding the Business Structure
The first crucial step in starting a business is choosing the right business structure. Different structures offer various benefits, liabilities, and tax implications. Common options include:

• Sole Proprietorship: Ideal for single-owner businesses.

• Partnership: Best for two or more partners sharing profits and liabilities.

• Limited Liability Partnership (LLP): A hybrid structure with limited liability and fewer compliances.

• Private Limited Company: A separate legal entity offering limited liability and better credibility.

• Section 8 Company: For non-profit or charitable organizations.

We will help you select the most suitable structure based on your business goals and vision.

2. Name Reservation and Trademark Registration
Once you’ve decided on the business structure, the next step is to choose and reserve your business name. A unique and creative name enhances your brand image.

Additionally, we assist you with trademark registration to protect your brand name, logo, and any unique product/service names. This ensures your intellectual property is legally protected from copycats.

3. Business Registration Process
Depending on the structure you choose, we guide you through the business registration process:

• Sole Proprietorship Registration

• Partnership Registration

• LLP Registration

• Private Limited Company Registration

• Section 8 Company Registration (for NGOs)

We handle all the legal paperwork and submissions, ensuring timely and hassle-free registration.

4. Tax Registration & Compliance
Once registered, every business in India needs to comply with tax regulations. We assist you in obtaining the necessary tax registrations, such as:

• Goods and Services Tax (GST) Registration (if applicable)

• Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for tax-related purposes

• Professional Tax (if applicable in your state)

• Import Export Code (IEC) Registration (for businesses involved in imports or exports)

5. Opening a Business Bank Account
A separate business bank account is essential for managing your business transactions professionally and maintaining clarity in accounting.

We help you with the process of opening a business bank account under your business name, ensuring that your financial transactions are streamlined.

6. Legal Documentation and Agreements
As part of setting up your business, it’s crucial to create well-drafted legal documents. This includes:

• Partnership Deed (for partnership businesses)

• Memorandum and Articles of Association (MOA & AOA) (for private limited companies)

• Shareholder Agreements

• Lease Agreements for office space

• Employee Contracts for any hires

We offer legal drafting services to ensure your business is legally compliant from day one.

7. Licenses and Permits
Depending on the nature of your business, you may need certain licenses and permits, such as:

• Shop and Establishment License for physical stores

• Food Safety and Standards Authority of India (FSSAI) License (if you’re in the food business)

• Factory License (for manufacturing units)

• Import Export Code (IEC) (for export businesses)

We’ll help you identify the licenses required and ensure your business is fully authorized to operate legally.

8. Setting Up Your Accounting and Bookkeeping
A solid financial foundation is essential for business success. We assist you in setting up accounting systems, choosing the right accounting software, and ensuring proper bookkeeping to comply with tax and audit requirements.

We also help you with:

• Creating financial statements like Profit & Loss, Balance Sheet, etc.

• Budgeting and cash flow management

• Tax Filing (GST, Income Tax, etc.)

• Preparation for audit if required

Why Choose S. R. Mahajan & Co. for Your New Business Setup?

• Comprehensive Services: From company registration to tax filing, we offer end-to-end services for setting up a business.

• Expert Guidance: Our experienced Chartered Accountants and legal experts provide tailored advice to ensure your business complies with all legal and regulatory requirements.

• Local Expertise: As an Aurangabad-based firm, we understand local regulations and help you navigate the regional business landscape.

• Fast & Efficient Process: We streamline the process to save you time and effort, ensuring you can focus on growing your business.

• Affordable & Transparent Fees: We offer competitive pricing for our services with no hidden costs.