HOW TO START AN IT COMPANY IN SIPCOT

TEAM MEMBERS ARUN, DICKSON, VJAYAN, GHANESH,

VIJAYALAKSHMI, ARCHANA

AIMO How to start an IT company

O How to start a company in Sipcot

O What are all the benefits of starting a

company in Sipcot

O Why Siruseri Sipcot is only place where

IT companies are present

How to start an IT CompanyO There are 13 steps to start an IT

company

Step 1O Obtain DIN(Director Identification

Number)

O What is DIN

O DIN is a unique number given to the

potential director of the company

Step 2 and 3O Obtain Digital

Signature

O What is DS

O Digital signature is

attached to an

electronically

transmitted document to

verify its contents and

the sender's identity.

O Reserve the company

name

O We must reserve the

company name in the

registrar of company

Step 4 and 5O Stamp the

company

document

O We can stamp

our company

document in state

treasury or private

bank

O Permission to

incorporate

O Get the Certificate of

Incorporation from the

Registrar of

Companies, Ministry of

Corporate Affairs

(National)

Step 6 and 7O Seal

O Although making a

company seal is not a

legal requirement for the

company to be

incorporated, companies

require a seal to issue

share certificates and

other documents

O PANO Permanent Account

Number

O It can be obtained from

Authorized franchise

National Securities

Depository Ltd.

Step 8 and 9O TANO Tax Account NumberO The Tax Account

Number (TAN) is a 10 -

digit alphanumeric

number required of

anyone responsible for

deducting or collecting

tax.

O Register with the Office of

Inspector, Shops, and

Establishment Act

(State/Municipal)

O A statement containing the

employer-”s and manager-”s

names and the establishment’s

name (if any), postal address,

and category must be sent to

the local shop inspector

Step 10 and 11O VAT

O Value Added

Tax

O Register for

Value-Added Tax

(VAT) at the

Commercial Tax

Office (State)

O Profession Tax

O Register for

Profession Tax at

the Profession Tax

Office (State)

Step 12 and 13

O Provident fund

O Register with

Employees’

Provident Fund

Organization

(National)

O Medical insurance

O Register for

medical insurance at

the regional office of

the Employees’ State

Insurance

Corporation

(National)

After completion of above steps

our company will be ready to

incorporate

To start a company in Sipcot we

must have completed the above

step and do the remaining

What is SIPCOTO States Industries Corporation Of Tamil

Nadu

O It was started to develop the industrial

growth of Tamil Nadu

O Siruseri Sipcot is the only Sipcot which

hold IT company because

1.Emerging silicon valley

2.Booming industrial city

3.Talent pool

Why Chennai

Document needed

1.Brief project report

2.Tentative building layout plan

3.DD with an initial deposit of 5000

4.certificate of Incorporation and

Memorandum and Articles of

Association for Private / Public Limited /

Joint Sector Companies.

Continuation

O Firm registration certificate

O Industrial license

O List of director and share holder

O Reason for choosing the specific

land

Process

O All the document must be provided with the properly filled

application form

O 1 acre to lease for 99 year cost 4.1 crore

O Total amount can be given in one payment or as installment

O If all the detail are correct and amount paid on time the land will

be allocated with in 10 working days

O Company must take over the land with in 15 days of allocation

Construction Procedure

O After taking over the land the

construction must begin with in 6 month

O What happen if we fail so?

O With in 24 months super structure

must be completed