New Business Setup Checklist
Everything to put in place when starting a business in India, from structure choice to your first compliance deadline.
- For:
- Founders and first-time business owners
- Items:
- 25
Patel Tax Advisors · +91 79846 53640 · info@pateltaxadvisors.com
Structure & registration
- Decide the structure: proprietorship, partnership, LLP, OPC, or private limited
- Check name availability before printing anything
- Obtain digital signature certificates for directors or partners
- File for incorporation or partnership registration
- Collect the incorporation certificate and constitutional documents
Tax registrations
- PAN in the name of the business entity
- TAN, if you will deduct TDS
- GST registration, where applicable
- Professional tax registration, where your state requires it
- Udyam (MSME) registration to access schemes and payment protection
Banking & finance
- Open a current account in the business name
- Keep business and personal money strictly separate
- Set up an accounting system from day one
- Establish an invoice numbering series
- Plan working capital for the first six months
If you will employ people
- Written offer letters and employment contracts
- PF and ESI registration, once thresholds apply
- Payroll process with payslips and statutory deductions
- Employee investment declarations for salary TDS
- Shops and establishments registration, where applicable
First-year compliance
- Build a compliance calendar with every due date
- Note advance tax instalment dates
- Diarise GST and TDS return deadlines
- For companies: board meetings, audit, AOC-4, MGT-7, DIR-3 KYC
- Keep every invoice and receipt from day one
General guidance only, not advice on your specific situation. Tax rules change — confirm the current position before acting. See our disclaimer.
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