An independent hackathon prototype. Not affiliated with, endorsed by, or connected to any government body. All data shown is synthetic.
← BackWorked example

Pune, Maharashtra

Software development agency

We are two developers in Pune building software for clients in the US and Europe. Around 18 lakh a year to start.

Steps required
9
Total cost
Rs 6,631
Realistic time
13–40 days

Time is the critical path, not the sum of every step — independent registrations genuinely run in parallel.

Your path, in order

Each step lists what it costs, how long it takes, and the law it comes from.

  1. 1. Digital Signature Certificate for each director

    Required

    Each of your 2 directors needs one before any filing can be signed.

    Cost
    Rs 3,000
    Takes
    1–3 working days
    What this involves ▸

    A Class 3 digital signature, one per director. Every MCA form is signed with it, so nothing else can start until these exist.

    You will need

    • PAN card
    • Aadhaar
    • Passport photo
    • Address proof

    If you skip it

    You cannot sign or submit any MCA form. The entire incorporation is blocked.

    Fee note: Rs 1,500 per director x 2, paid to a licensed certifying agency rather than the government

    Under Information Technology Act 2000, s.35; Companies (Incorporation) Rules 2014 · Filed on Licensed Certifying Authority (eMudhra, Sify, VSign and others)

  2. 2. Reserve your company name (SPICe+ Part A)

    Required

    Your name must be approved before the incorporation form can be filed against it.

    Cost
    Rs 1,000
    Takes
    1–3 working days
    After
    step 1
    See this form already filled in →
    What this involves ▸

    Propose up to two names and have the Registrar approve one. An approved name is held for 20 days.

    If you skip it

    Rejection is the most common early delay. Names too close to an existing company or trademark are refused, and the fee is not refunded.

    Fee note: per name application

    Under Companies Act 2013, s.4(4); Companies (Incorporation) Rules 2014, Rule 9 · Filed on MCA21 V3

  3. 3. File for incorporation (SPICe+ Part B with AGILE-PRO-S)

    Required

    This single form does the work of eight separate registrations. Your registered office in Maharashtra determines which Registrar handles it.

    Cost
    Free
    Takes
    7–15 working days
    After
    step 2
    What this involves ▸

    One filing that creates the company and, in the same submission, applies for DIN, PAN, TAN, EPFO, ESIC, professional tax and a bank account.

    You will need

    • PAN card
    • Aadhaar
    • Passport photo
    • Proof of business address
    • Recent utility bill
    • No-objection letter from the owner
    • MOA and AOA

    If you skip it

    No Certificate of Incorporation, so the company legally does not exist.

    Fee note: no filing fee when authorised capital is Rs 15 lakh or less; state stamp duty still applies

    Under Companies Act 2013, s.7; SPICe+ (INC-32) with AGILE-PRO-S (INC-35) and INC-9 · Filed on MCA21 V3

  4. 4. Company PAN and TAN

    Required

    Already bundled into your incorporation filing. Listed here so you know it is handled and do not pay someone to do it again.

    Cost
    Rs 131
    Takes
    Automatic
    After
    step 3
    What this involves ▸

    Issued automatically with your Certificate of Incorporation. You do not apply separately.

    If you skip it

    Not applicable. This cannot be skipped or forgotten separately.

    Fee note: collected within the SPICe+ filing

    Under Income-tax Act 1961, s.139A and s.203A; issued via SPICe+

  5. 5. GST registration

    Required

    Exports are zero-rated, but you still need a GSTIN to file a Letter of Undertaking and to claim input tax refunds. Registering is what makes the zero-rating usable.

    Cost
    Free
    Takes
    3–15 working days
    See this form already filled in →
    What this involves ▸

    Registration under GST. Whether you need it depends on what you sell, where you sell it, and how much -- not simply on being a company.

    You will need

    • PAN card
    • Aadhaar
    • Passport photo
    • Proof of business address
    • Bank statement
    • Rent agreement

    If you skip it

    Trading without a required registration attracts a penalty of Rs 10,000 or the tax due, whichever is higher, and marketplaces will not onboard you.

    Fee note: no government fee

    Under CGST Act 2017, s.22 and s.24; s.9(5); Notification 65/2017-CT; Notification 34/2023-CT · Filed on GST Portal

  6. 6. Open a current account

    Required

    A current account is pre-applied inside AGILE-PRO-S, but you still choose the bank. That choice is worth two minutes -- minimum balance requirements differ by an order of magnitude between banks.

    Cost
    Free
    Takes
    2–10 working days
    After
    step 4
    What this involves ▸

    The final step. Your company cannot legally receive revenue into a personal account.

    You will need

    • PAN card
    • Aadhaar
    • Proof of business address
    • Board resolution

    If you skip it

    You cannot invoice, receive payments or demonstrate clean books to an investor.

    Fee note: no government fee; banks set their own minimum balance

    Under RBI Master Direction on KYC, 2016 (as amended)

  7. 7. Professional tax registration

    Required

    Maharashtra levies professional tax, so you need an employer enrolment. Many states -- Delhi, Haryana, Rajasthan and Uttar Pradesh among them -- do not levy it at all.

    Cost
    Rs 2,500
    Takes
    2–10 working days
    What this involves ▸

    A state tax on employment. Levied in some states and not in others -- one of the most common things founders are wrongly told they need.

    You will need

    • PAN card
    • Proof of business address

    If you skip it

    Interest and penalty on arrears from the date the liability began.

    Fee note: annual employer enrolment, varies by state and salary slab

    Under State Professions, Trades, Callings and Employments Act (state-specific) · Filed on State commercial tax portal

  8. 8. Set up foreign inward remittance handling

    Required

    Receiving client payments into a plain savings account, or through a personal payment link, leaves you with no remittance certificate. Without that paper trail your zero-rated export claim fails at assessment even though the export genuinely happened.

    Cost
    Free
    Takes
    2–7 working days
    After
    step 6
    What this involves ▸

    Your bank must issue a FIRC or e-BRC for each foreign payment, which is what proves an export actually happened.

    You will need

    • Bank statement
    • Board resolution

    If you skip it

    Export turnover you cannot substantiate, and a GST refund claim that gets rejected.

    Fee note: banks charge a per-certificate fee

    Under FEMA 1999; RBI Master Direction on Export of Goods and Services

  9. 9. Letter of Undertaking for zero-rated export

    Required

    Without an LUT you must pay IGST on every export invoice and then wait months for a refund. With one, you invoice at zero rate. It is free, takes minutes, and must be renewed each financial year -- the renewal is what people forget.

    Cost
    Free
    Takes
    1–3 working days
    After
    step 5
    What this involves ▸

    Lets you export services without paying IGST upfront and then claiming it back.

    You will need

    • PAN card
    • Bank statement

    If you skip it

    Your working capital sits with the tax department for months instead of in your business.

    Under CGST Act 2017, s.16 of IGST Act; CGST Rules Rule 96A (Form GST RFD-11) · Filed on GST Portal

  10. 10. Trademark your brand name

    Worth doing

    This is the gap that surprises founders most: an approved company name stops another company registering the same name, but it does not stop anyone trading under your brand. Startups and MSMEs file at the reduced fee.

    Cost
    Rs 4,500
    Takes
    180–540 working days
    What this involves ▸

    Registering your company at MCA does not protect your brand. Only a trademark does.

    You will need

    • PAN card
    • List of products

    If you skip it

    Someone else can register your brand name and force you to rebrand.

    Fee note: per class, e-filing, at the concessional rate for startups and MSMEs

    Under Trade Marks Act 1999, s.18; Trade Marks Rules 2017 · Filed on IP India Portal

  11. 11. Udyam (MSME) registration

    Worth doing

    It costs nothing and takes about ten minutes. The statutory 45-day payment protection alone is worth it if you invoice larger companies.

    Cost
    Free
    Takes
    Automatic
    After
    step 4
    What this involves ▸

    Free, takes minutes, and unlocks protection against late payment from larger buyers plus cheaper credit.

    You will need

    • PAN card
    • Aadhaar

    If you skip it

    You forgo MSME credit schemes and the delayed-payment protection under the MSMED Act.

    Under Micro, Small and Medium Enterprises Development Act 2006, s.8 · Filed on Udyam Registration Portal

  12. 12. Startup India (DPIIT) recognition

    Optional

    Free to apply. The main benefit is the section 80-IAC tax holiday, which only matters once you are profitable.

    Cost
    Free
    Takes
    3–15 working days
    After
    step 3
    What this involves ▸

    Recognition that unlocks a three-year income tax holiday, self-certification on labour laws and cheaper trademark filing.

    You will need

    • PAN card
    • Board resolution

    If you skip it

    You lose access to the tax holiday and the angel tax exemption.

    Under DPIIT Notification G.S.R. 127(E) dated 19 February 2019 · Filed on Startup India Portal

What you do not need yet

2 things you would likely be sold anyway. Each shows the exact condition that would change the answer.

  1. 13. Provident Fund (EPFO) registration

    Not yet

    You have 0 employees. This starts at 20, so it is not your problem yet -- but the registration is already pre-applied inside your SPICe+ filing.

    This changes when: Your headcount reaches 20.

    What this involves ▸

    Becomes compulsory once you employ 20 or more people.

    You will need

    • PAN card
    • Proof of business address
    • Bank statement

    If you skip it

    Damages and interest on unpaid contributions, backdated to when you crossed the threshold.

    Under Employees Provident Funds and Miscellaneous Provisions Act 1952, s.1(3) · Filed on EPFO Unified Portal

  2. 14. Employee State Insurance (ESIC) registration

    Not yet

    You have 0 employees. This starts at 10 in most states.

    This changes when: Your headcount reaches 10.

    What this involves ▸

    Becomes compulsory once you employ 10 or more people.

    You will need

    • PAN card
    • Proof of business address

    If you skip it

    Penalties plus liability for any employee medical claim that ESI would have covered.

    Under Employees State Insurance Act 1948, s.2A and s.1(5) · Filed on ESIC Portal

Your business bank account

You need an account in the business's own name before you can be paid in it. A company also cannot file its declaration of commencement of business until the subscription money is sitting in that account, so it is not a step to leave for later. Here is the shape of account to look for, and why.

What your business needs from an account

  • At your expected scale, money sitting idle to satisfy a minimum balance is money not in the business. Start on a zero or low balance account and move up only if you outgrow it.
  • You take payments from overseas, so prioritise a bank that issues FIRC or e-BRC promptly. Without that certificate your zero-rated export claim fails at assessment, however genuine the export was.

Read from your profile — this is everything the shortlist is built on

  • Zero or low balance account
  • Little physical cash
  • Receives money from overseas
  • No online checkout to settle
  • Modest transaction volume

Where to start looking

These 3 came closest on your criteria, ordered by how many each one meets — not by which is better. It is a shortlist, not the whole field: other banks would serve you too, and every one of these still runs its own checks before it agrees to open an account.

  • Bank of Baroda

    Current account

    Public sector
    Average balance
    Rs 5,000 – Rs 25,000

    Matched your profile on

    • Handles foreign inward remittance well

    Strengths

    • Strong reach outside metros
    • Competitive on trade finance for small exporters

    Tradeoffs

    • Digital tooling is basic

  • ICICI Bank

    Business current account

    Private sector
    Average balance
    Rs 10,000 – Rs 50,000

    Matched your profile on

    • Handles foreign inward remittance well

    Strengths

    • Well-regarded for foreign inward remittances and prompt FIRC issuance
    • Broad branch and cash-handling network

    Tradeoffs

    • Higher balance requirements than digital-first banks

  • IDFC FIRST Bank

    Zero-balance current account

    Private sector
    Average balance
    Up to Rs 10,000

    Matched your profile on

    • No minimum balance to start

    Strengths

    • Zero or very low average balance requirement on entry-level current accounts
    • Fully digital onboarding, usually without a branch visit

    Tradeoffs

    • Thinner branch network outside metros
    • Cash deposit limits are tighter than at a public sector bank

How this list was put together

We have no commercial relationship with any bank here. Nothing on this page is an affiliate link, nobody paid for placement, and no bank is contacted or sent your details. The order comes only from the criteria above, which is why they are shown.

Balance requirements, fee schedules and cash limits change often, and they vary by branch and by which variant of an account you are offered. Every figure here is an indicative band to start the conversation with — confirm the current terms in writing before you open the account.

What is real and what is simulated ▸

Real, and running right now

  • The compliance rules engine. This roadmap was computed from your inputs, not selected from a template.
  • Every legal citation, fee and timeline shown — hand-authored and checked against source.
  • Rule packs used: common v1.0.0, it_services v1.0.0.

Simulated for this prototype

  • DigiLocker. A real integration requires organisational onboarding as a registered requestor through API Setu.
  • The MCA and GST portal screens. These are our own replicas — no government system is contacted at any point.
  • All identity documents and reference numbers.

Not built yet

  • Actual submission to any government portal.
  • Post-incorporation compliance calendar.
  • Guided filing for sectors other than food and beverage.

Fees and timelines are indicative and change. Every step links to the statute it comes from so you can check us.

This is one of four worked examples. Describe your own business to get a roadmap built from your actual situation.