Accounting Equation

Setting up a new business

The first step in starting the business journey is to identify and choose the structure for the proposed business. There are various types of entities can be registered such as proprietorship, partnership firm, Limited Liability Partnership (LLP), Private Limited Company, One Person Company (OPC).

Once the type of entity to be registered is finalised it is important to register with the Tax authorities. First most registration required is getting a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN). Further, Goods and Service Tax (GST) registration is mandatory for any person or entity if the turnover exceeds Rs. 40 lakhs (Rs. 20 lakhs in case of service providers).

Setting up a new business

We at Accounting equation helps out client in identification of best legal structure for your business.

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