"Hello and welcome to this video on how to start a construction company in India. If you are planning to enter the booming construction industry in India, you need to know the legal documents and permits required to establish or register your business entity. In this video, we will guide you through the steps and procedures involved in setting up a construction company in India. The first step is to choose a suitable type of business entity for your construction company. There are different types of business entities, such as sole proprietorship, partnership, limited liability partnership (LLP), private limited company or public limited company. Each type has its own advantages and disadvantages in terms of registration process, compliance requirements, taxation, liability and funding. You should choose the one that best suits your needs and goals. The second step is to register your business entity with the Ministry of Corporate Affairs (MCA) by filing the necessary forms and documents online. You will need to provide information such as name of the company, address of the registered office, main objects of the company, details of directors and shareholders (if applicable), share capital (if applicable), etc. You will also need to pay the prescribed fees for registration. The third step is to obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) from the Income Tax Department for your business entity. These are mandatory for filing tax returns and deducting tax at source. The fourth step is to apply for Goods and Services Tax (GST) registration from the GST portal. GST is a comprehensive indirect tax levied on supply of goods and services in India. You will need to provide details such as PAN, TAN, bank account number, address proof, etc. The fifth step is to obtain other licenses and permits depending on the nature and scope of your construction activities. Some common licenses and permits are: • Building plan approval from the local municipal authority or development authority. • Environmental clearance from the State Environment Impact Assessment Authority or Ministry of Environment, Forests & Climate Change. • Consent to establish and consent to operate from the State Pollution Control Board. • Registration under Contract Labour (Regulation & Abolition) Act 1970 from the Labour Commissioner’s Office. • Registration under Employees’ Provident Fund Organisation (EPFO) and Employees’ State Insurance Corporation (ESIC) for providing social security benefits to your employees. • Registration under Building & Other Construction Workers’ Welfare Cess Act 1996 for paying cess on cost of construction work. • Registration under Inter-State Migrant Workmen Act 1979 if you employ workers from other states. These are some general documents and permits required for a construction company in India. However, you may need to obtain additional or specific documents and permits depending on your location, project type, client requirements etc. Therefore, it is advisable to consult a legal expert before starting your construction business in India. We hope this video was helpful for you. If you have any questions or comments, please leave them below. Thank you for watching! "
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20 мар 2023
