Startup in India Free – Part 2 (Target)

Sep 17, 2017 • admin@sciloo.com

Now that you have learned about different types of formal businesses in India. We are going to focus on LLP from now on.

For a startup spending money at different steps of its journey is a crucial decision and can impact its resilience. Registering a company involves need following items:

Filling out forms available online [1]
Verification of forms by CA (chartered accountants) or CS (company secretaries), etc. – incurs fee (depending upon their package)
Submitting to Govt. (physically or online) – luckily in India, each of the steps can be done online without moving physically anywhere
Paying the Govt. fee (MCA – Ministry of Corporate Affairs [1]).

All of the above steps are taken care by many 3rd party companies which takes necessary documents from you (online) and collect money (online) and take all the burden away from your end to end. But they have fee starting from 7000 Rs. (as of March 2o17).

This fee includes their service charges, your digital signature, and all the Govt. fee (in case of LLP, it is below 1000 Rs for 2 people). Now comes the choice, can it be done yourself? The answer is yes and it is very easy.

You need to approach this whole process in a logical manner. All the details are given in MCA website and many articles on the web and will be explained here later.

But how to do it free (like free water we drink). Free in the sense that you can avoid 3rd party charges but you can’t avoid Gov. charges, digital signatures charges that are a must.

The first condition to get it done free is to hire a CA/CS free. Am I reading it right, hire a CA/CS free! Yes, otherwise how it will be free. Hire means you can find a close friend or relative, friends’ friend, etc. who is CA/CS. Talk to him about your business and you can do something for that person later (either sending free product or service like website hosting, etc.).

There is a good chance that he will be able to do it free, but don’t forget to fulfil to return the help later.

References:

[1] LLP on MCA