Introduction
In India craze of sports is very high and many sports management company in India is earning very well from this business. If you are thinking of starting your own sports management company then you have to make a business model for your company then you have to execute the business mode and you have to comply with the rules and regulation of companies act. This article talks about company registration and process of incorporation of company so it will give you an idea about incorporation of company.
How to start a sports management company in India
- To start a sports management company you need to register your company under Ministry of corporate affairs and first you need to know about private limited limited company. Private limited company can be incorporate with a minimum number of 2 members which is required as per the company’s law. Private limited company can be incorporate through filing of incorporation form online. Liability of member is limited in private limited company which means personal assets of the shareholders are not at risk. A private limited company is a separate legal entity which can sue or can be sued and a company keeps on existing forever and company will keep existing even in the case of death, insolvency of any member. If you are thinking of starting your own sports management company then you have to contribute minimum paid-up capital of Rs. 1 lakh or such higher amount which may be prescribed from time to time and it is mandatory to use the word private limited after its name.
- Registration of your sports management pvt ltd company is important because without this your company is not a legal entity. Registration of every pvt ltd company is required to be done under the Ministry of corporate affairs as per the companies act. Registration of your company can be done through online or offline procedure. Online procedure of company incorporation is easy. You have to submit required documents like ID of PAN card, personal and profession documents.
- Process of registration is very easy first you have to visit the official website of Ministry of corporate affairs then you have to choose the option of online registration of company. Then you have to obtain a digital signature certificate for proposed directors because director of company will use these digital signature for future references. Then you have to obtain a director identification number which identify proposed directors. After obtaining director’s identification number and Digital signature certificate you have to file your incorporation form for company registration and you have to reserve a name for your private limited company through web RUN services. During filing of incorporation form you have to fill all required details and have to submit the required documents along with Memorandum of association and Article of association. After filing of your incorporation form you have to submit the required fee for registration. Then you application will be examine and if everything goes right then you will get your incorporation certificate.
- After company registration you have to comply with rules and regulation of registrar of companies and you have to comply with income tax department of India. Income tax return filing is also important for you because in case failure of filing income tax return you may have to face punishment or you may have to pay huge fine. Before filing of income tax return you have to make a PAN card for your pvt ltd company because without PAN number you cannot file your income tax return and PAN number is also required for commercial transaction.
Conclusion
As you can see in above article that a private limited company has many benefits and pvt ltd company registration is also important for its validation. If you are thinking of starting your own company then you have to comply with the rules and regulation of Ministry of corporate affairs. As you can see above process of company registration is easy and you can file your incorporation form through online or offline mode. So if you are thinking of starting a private limited company then you should consider the above given points.
Add The Sports Daily to your Google News Feed!
