The Indian regulatory environment can be especially taxing regardless of the size of the company. It is mandatory for even small companies comply the norms of Companies Act, besides mandatory filing of Income Tax Return and a plethora of other regulations to comply with.
Benefits earned by Start¬ups:
The Indian government has initiated some major reforms to help Startups to boom in India. On January 2016, Narendra Modi, India’s Prime Minister launched “Start¬Up India Action Plan” which will benefit Startup Companies to run without any hurdle.
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Companies Act,2013 lays down procedure for Incorporation of Company.
Below is the Step wise procedure for Formation of a Company –