What are the registrations required to start the Business in Karnataka?
In India, we can constitute commercial business in following means:
After considering the constitution, we need to register entity under respective acts i.e. companies Act 2013, partnership Act etc
Apart from entity registration, we need to register under following acts mandatorily.
This registration is a one time application and to be renewed on due basis. Based on nature of business, employees and various aspects license will be allotted either for 1, 3 or 5 years.
Employer PT returns are liable to file and pay tax on annual basis. Employer is liable to pay Rs 2,500/- as annual professional tax. Due date for filing Annual PT return is 30th April.
With respective employee professional tax, entity is liable to pay employee returns on monthly basis. Due date for filing monthly returns 20th of succeeding month.
Commercial establishments can avail the opportunity of registering under MSMED Act. Such establishments can claim the benefits of loans and government grants.
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