April 2024

Startup India Registration in Delhi A startup is a small sized business started in India,with an objective to solve a problem with a particular service or goods. LLPs, small firms are also Startups as they are funded by an individual or promoters. Startup India in India– A Government Initiative to promote new businesses Startup India Scheme, is an GoI initiative that was launched by Prime Minister Shri. Narendra Modi on 16th January 2016, to promote new business leading to employment generation and inclusive growth. The basic aim of this Scheme i.e. Startup India remains the development of business and promotion of innovative ideas . Startup India is an Indian Government initiative that is intended to build a strong eco-system for nurturing innovation and startups in the country to drive sustainable economic growth and generate large scale employment opportunities. Through this initiative, the government aims to empower Startups to grow through innovation and design. Startup is an entity that develops a business model based on some innovation and makes it scalable for achieving commercial success. According to Department for Promotion of Industry and Internal Trade (DPIIT), under the Union Ministry for Commerce and Industry, an entity shall be considered as a Startup upto a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India. Eligibility Criteria for Startup Registration Period of Existence of Entity: The Period of existence and operations of the company should not exceed 10 years from the date of formation Annual Turnover Limit – In order to be eligible to get the DPIIT Certificate of Recognition, the firm has to have an annual turnover of Rs 100 crore for any of the fiscal years since its federation. Original Entity: To avail the DPIIT Certificate of Recognition, the company should not have been incorporated by splitting up or recreating an already existing entity. Innovative Entity – In order to get recognised as a startup under the DPIIT, the firm or entity has to be working towards the improvement or development of a product or service or process. Type of Entity: The DPIIT Certificate of Recognition is provided for the company which is incorporated as a Private Limited Company, a Limited Liability Partnership (LLP) or a Registered Partnership Firm. Documents for Startup Registration Registration Certificate of your start-up Details of all the Directors PAN Number Proof of concept like website link/video Patent and trademark details (not compulsory) Procedure for DPIIT registration certificate for recognition as Startup STEP 1-Business Incorporation – The very first step is to get the entity or firm registered in any form be it a Limited Liability Partnership or a Private Limited Company STEP 2-Application Filing – The next step is to file the application with Startup India by filling out an online form with the required details and submit the required documents STEP 3-Upload Documents – The third step is to properly upload all the documents required for filing the application, any award received by the firm, a questionnaire, and the incorporation certificate of the firm. STEP 4-Self Certify the Documents – The next step is to ensure that you certify all the related details as well as documents before you file for the recognition under DPIIT. STEP 5-Obtaining Recognition Number – Once all the required documents are submitted and the application is examined, .You get the certificate of registration  Advantages of Start-up Registration By registering a company you can limit your personal liability. Companies are also entitled to a large number of tax deductions. The startups can avail Rs.2000 crore Credit Guarantee fund through the National Credit Guarantee Trust Company or SIDBI over 4 years. After obtaining the DPIIT Certificate of Recognition for Startups, the entity will be allowed to self-certify compliance under 3 Environmental Laws and 6 Labour Laws. The Startups recognised under the DPIIT will get the opportunity to list their products on the Government e marketplace. The startups will be eligible for Rs.10000 crore funds of funds from the Alternative Investment Funds. Startup India Registration In Delhi FAQ’s Q1: Can I apply for multiple benefits under Startup India for my startup india? A1: Yes, you can avail multiple benefits as long as your startup meets the eligibility criteria for each benefit. Q2: Is Delhi a suitable city for tech startups? A1: Absolutely! Delhi growing tech ecosystem is attracting startups in various domains, including technology, e-commerce, and digital marketing. Q3: Can foreign nationals register a startup in Delhi under Startup India? A3: Yes, foreign nationals are allowed to register startups in India, subject to certain conditions and regulations. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice 

The RBI,  announced that, with the objective of integrating the extant reporting structures of various types of foreign investment in India, it will introduce a Single Master Form (SMF) subsuming all the existing reports. The Reserve Bank is introducing an online application, FIRMS (Foreign Investment Reporting and Management System), which would provide for the SMF. FIRMS would be made online in two phases. In the first phase, the first module viz., the Entity Master, was made available online. In the second phase, the second module is being made available for these reporting.The RBI has announced that to consolidate existing reporting frameworks for various types of foreign investment in India, it will introduce a Single Master Form (SMF) covering all available reports. The Reserve Bank is launching an online application, FIRMS (Foreign Investment Reporting and Management System), which will provide SMF.  Reporting for Form FC-GPR –issue of capital instruments by an Indian company to a person resident outside India Form FC-TRS – transfer of capital instruments between a person resident outside India and a person resident in India Form LLP-I – FDI in LLP through capital contribution and profit shares Form LLP-II – Disinvestment/ transfer of capital contribution and profit shares in LLP Form ESOP – issue of ESOPs / sweat equity shares/ shares against exercise of ESOP by an Indian company to an employee resident outside India. Form CN – issue or transfer of convertible notes Form DRR – issue/transfer of Depository Receipts Dorm DI – Reporting of downstream investment (indirect foreign investment) in a company or LLP Form InVi– Reporting of investment by a person resident outside India in an Investment vehicle What is the Meaning of Entity ? An Entity User is a person authorized by the business (company/LLP/startup) to register a business in the Entity Master of FIRMS application. The Business User will be the sole person authorized to add/update the foreign investment details of the Business Enterprise and will be solely responsible for the data included.One business may only have one business user. One person can be a business user for more than one business. However, one should get the same different registrations as the registration is for the business. Documents for entity form In case of Indian entities (Company, LLP, etc.) Board resolution in favor of the beneficiary; PAN of the authorized person; Authorized letter in the prescribed format. Procedure to create Entity Master Log on to https://firms.rbi.org.in Click on the Registration form for a new entity user A pop-up window will appear with the entity user registration form The user is now required to fill in the field description on the entity user form; Now the next step is to submit the said form to RBI where RBI will ensure and verify the details; After the user ID is created, a popup message will appear saying “Record saved successfully”. After the above procedure, the authorization letter is verified by RBI and if approved, the user will receive a password on their registered email address. This password can be changed later by the user after successful login. In the event that the user does not receive any email notification of approval/rejection of the registration within the next 48 hours, he can contact the email. What is a Business User? The applicant reporting the for the transaction in Single Master form at FIRMS. A BU can use his login credentials for only the entity that has authorized him/her to report the transactions. If the person wants to act as a BU for another entity, he must register himself separately. Further, at the time of registration, BU has to select the IFSC code of the bank which would approve the eKYC (explained under the head “Registration of Business User”) and the reporting would be made in SMF. In case the IFSC details are changed i.e. BU wishes to submit the reporting to another branch or another bank, the entity being the same, he/she needs to repeat the registration process for Business user with the new IFSC code and obtain separate Login. Documents to create Business User Authorization letter in the prescribed format; KYC of non-resident investor; Bank branch details Procedure to create Business User Log on to https://firms.rbi.org.in Click on the Registration form for business users Fill in the information in the displayed pop-up window with the registration form of a business user; After entering the complete details, click the Submit button. In case any error is shown, correct it and then click Submit button. After sending the documents, the message “Record saved successfully” will be displayed. Delay in the registration of entity & business users in the FIRMS Portal of RBI The user needs to attach the reason for the reporting delay to the AD bank which may be transferred to the appropriate District office. The RBI will advise you on Late Transfer Payment (LSF) as may be determined by the State Bank, in consultation with the Central Government, on any reporting delays. LSF payment is an additional way to create reporting delays without following the merger process.However, this does not mean that the applicant cannot apply for mergers. Both options are available to the applicant in respect of transactions made on or before November 7, 2017.Late delivery fees are for reporting errors only. Violations of non-compulsory discharge/late discharge of large equipment or non-transfer/late transfer of large equipment and other violations of the provisions of FEMA 20 (R) will continue in contravention of the procedure set out in sections 13 and 15 of FEMA, 1999.The LSF may be paid in the form of a draft requirement in favor of the “Indian Reserve Bank” and paid at the relevant Regional Office. Single Master Form (“SMF”) The RBI introduced the SMF on 01/09/2018 and consolidated 9 reporting forms in one form, the RBI also released a user manual (“SMF Manual”) which clearly outlines the process for completing one main form (“SMF”). With the launch of SMF, ARF has been phased out as of September 1, 2018. Now, the user

A police clearance certificate (PCC) is given to any Indian person who wants to relocate abroad. This move may be made for long-term habitation, employment, or residential purposes. However, a PCC is not necessary for Indian tourists who travel abroad for leisure. PCC in passport stands for Police Clearance Certificate, which is a document that shows you have no criminal record. It’s often required when you apply for a visa or a job in another country. Now, there’s another term you might hear thrown around: “passport PCC.” Passport PCC means that the PCC is specifically for your passport application. Some countries require a PCC passport along with your regular PCC, What is a Police Clearance Certificate? In order to apply for a long-term visa, a job, immigration, or residence status, Indian passport holders must first obtain a PCC, also known as a Police Clearance Certificate.The certificate serves as official documentation proving that a person had no criminal history when going overseas. However, individuals who are going abroad on a tourist visa won’t be given a PCC. Police Clearance Certificate documents Application form: You can obtain this from your local police station or online. Two passport-sized photographs: You will need to attach these to your application form. Proof of identity: You will need to provide a valid government-issued ID such as a passport, Aadhaar card, voter ID card, or driving licence. Proof of address: You will need to provide a document that shows your current address, such as a utility bill, rent agreement, or bank statement. Any previous police clearance certificates (if applicable): If you have obtained a police clearance certificate before, you may need to provide a copy of it. Fingerprints: You will need to provide your fingerprints, which can be taken at your local police station or a designated fingerprinting centre. How to apply for Police Clearance Certificate Visit the official website of the Passport Seva Kendra (PSK) or the Indian embassy or consulate in your country to obtain information on how to apply for a PCC. Fill in the application form for the PCC, which can be found on the official website. Gather all the required documents, which typically include a copy of your passport, proof of address, and proof of any previous criminal record, if applicable. Make sure that all the documents are in order and that they meet the requirements specified by the authorities. Pay the fee for the PCC application, which can be done online through the official website. Schedule an appointment at the nearest PSK or Indian embassy, or consulate to submit your application and documents. Make sure to arrive on time and bring all the necessary documents with you. Provide your biometric data, such as fingerprints and a photograph, when you submit your application. Wait for the PCC to be processed. The processing time may vary depending on the location and the number of applications being processed. Collect the PCC from the PSK or Indian embassy or consulate once it is ready. Make sure to bring the original documents that you submitted along with your application for verification purposes. How to download PCC certificate? Visit the official website of the Passport Seva Kendra (PSK) at https://www.passportindia.gov.in/. Click on the ‘PCC’ tab on the left-hand side of the homepage. Select the appropriate option from the drop-down menu based on your requirement (fresh/re-issue). Enter your passport number and date of birth and click on ‘Submit’. If your PCC is already issued, you will see a ‘Download’ button next to it. Click on it to download the certificate. If your PCC is not issued yet, you can track the status of your application by clicking on the ‘Track PCC Status’ option. How to get Police Clearance Certificate from local police station? Visit the local police station: Go to the nearest police station in your area where you have been residing for the last few years. Ensure that you carry all the necessary documents with you. Get the application form: Ask the police personnel for the application form for a Police Clearance Certificate. They will provide you with a form that you need to fill out. Fill in the application form: Fill in all the necessary details, such as your name, address, date of birth, and other personal information. Ensure that all the information is accurate and up-to-date. Attach the required documents: Attach the necessary documents such as identity proof, address proof, and passport-sized photographs. The documents required may vary from state to state. Submit the application: After filling out the form and attaching the required documents, submit the application to the police personnel. You may be required to pay a fee for the PCC application. Collect the PCC: Once your application has been processed, you will be notified to collect your PCC from the police station. Make sure to carry your identity proof and the receipt of the fee paid when collecting the certificate. PCC verification process Application submission: The first step in obtaining a PCC is to submit an application to the police station that has jurisdiction over the area where the applicant currently resides or where they have resided in the past. Verification of personal information: The police authorities will verify the personal information of the applicant, including their name, address, date of birth, and other details. Fingerprinting: The applicant will be required to provide their fingerprints, which will be used to verify their identity and check for any criminal record. Background check: The police authorities will conduct a background check on the applicant to determine if they have any criminal record or if there are any pending cases against them. Issuance of certificate: If the background check is clear, the police authorities will issue a PCC to the applicant. The certificate will include the applicant’s personal information, the date of issue, and the signature of the issuing authority. FAQs What is a Police Clearance Certificate? A Police Clearance Certificate is an official document issued by the police or government authorities that certifies that an individual has no criminal record. What is PCC full form in passport? PCC stands for Police Clearance Certificate. Why

TMB Super Flexi Current Account is a type of current bank account that is offered to people in business. The Tamilnad Mercantile Bank Limited provides an innovative super flexible self-updating current account. Based on the monthly average balance, the account adopts itself to offer unmatched service and privileges based on the previous month Monthly Average Balance (MAB). Applicability Individuals Sole proprietorship firms TMB Super Flexi Current Account Working Principle For existing Accounts of TMB Silver, TMB New Gold, TMB Diamond, TMB Platinum, TMB Pearl and TMB Gold.  The system will calculate the previous month average balance for each account. Based on the previous month average balance in each account, the system will classify each account in any one of the following three subcategories. Silver Account – Rs.10000 New Gold Account – Rs. 50,000.00 Diamond Account – Rs.250000.00 For that entire month, the account will get all the benefits pertaining to the applicable subcategory. Similarly, in the next month, the system will automatically classify into subcategories applicable for each account based on previous month average balance and the account will also be entitled to subcategory specific benefit according to reclassification, every month. For New Accounts- The trader has to opt for any one of the three subcategories namely Silver, Gold and Diamond at the time of opening the current account by depositing the applicable monthly average balance. Non-maintenance of the minimum average balance- If the TMB Super Flexi Current Account is not maintained with the minimum average balance, the customer needs to pay a penalty of Rs.250 + Service Tax Per month. The account should be converted into an ordinary current account if the default persists for three consecutive months. Features of TMB Super Flexi Current Account The trader can have a single combo special anywhere current account with different features based on the balances maintained in the account. From the TMB Super Flexi current account, the customer can get benefits in the ongoing month based on the previous month average balances (MAB) maintained in the account. It will facilitate the business people to enjoy dynamic free limits on Cash Deposit and Free Cheque Books facilities based on the Average Monthly Balance maintained. Cash Withdrawal Details No limit on Cash Withdrawal at parent Branch for self and Third Party Cash Withdrawal at other Branches is free for self cheques presented by the drawer in person. The TMB bank allows Rs.50000 per day for third-party withdrawals at Satellite branches. Total Cash Remittance  Limit Total cash remittance per month in Parent and Satellite Branches are explained here: Sl.No Total Cash Remittance Limit Silver Category Gold Category Diamond Category 1 Monthly free cash remittances limit of MAB of the previous month 20 times 35 times 50times 2 Charges in Parent Branch Rs. 1.50 per Rs. 1,000 beyond 20 times Rs. 1.50 per Rs.1,000 beyond 35 times Rs. 1.50 per Rs 1,000 beyond 50 times 3 Charges in Satellite Branch Rs. 2 per Rs. 1,000 beyond 20 times Rs. 2 per Rs.1,000 beyond 35 times Rs.2 per Rs.1,000 beyond 50 times The cheque Book for TMB Super Flexi Current Account The TMB Super Flexi current account enables businesspeople and traders to make direct payments using cheques. The TMB offers anywhere banking facility and payment of cheques in other centres in transfer or clearing is free Cheque Book Issue Charges- The cheque book issue charges for TMB Super Flexi Current Account are tabulated in detail below: Sl.No Silver Category Gold Category Diamond Category 1 First 50 cheques leave free at the time of account opening. Thereafter Rs. 3 per leaf. First 100 cheques leave free at the time of account opening. Thereafter Rs. 3 per leaf. Free Unlimited number of cheque leaves. Documents Required Proof of Identity and Address- The applicant has to produce any one of the documents from the list of proof of identity and address: Identity Proof Passport PAN Card Voter’s Identity Card Driving License with Photograph Identity Card/ confirmation from employer (Subject to the bank’s satisfaction) Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank Identity Card / Document with the applicant’s photo, issued by Central / State Government and its Department Statutory / Regulatory authorities Public Sector Undertakings Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student) Professional bodies such as ICAI, ICWAI, ICSI & Bar Council to their members Credit Cards / Debit Cards issued by banks with photo Address Proof  Passport  Voter’s Identity Card  Driving Licence  Telephone bill (latest)  Bank account statement  Letter from any recognized public authority  Electricity bill (latest)  Ration Card  Letter from employer (subject to the satisfaction of the bank  Other Bank passbooks  Self-declaration by High Court & Supreme Court Judges giving the new address in respect of their accounts  Identity card with the applicant’s photo  issued by Central / State Statutory/ Regulatory authorities Public Sector Undertakings Scheduled Commercial Bank Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student) Professional bodies such as ICAI, ICWAI, ICSI and Bar Council to their members Government and its Department Note: For rural branches in the absence of any of the above documents. Certificate from the local body/NGO/MFI will suffice for establishing identity and address of the applicant For Sole Proprietorship Firms Shop and Establishment certificate / Municipal license Sales and Income Tax Returns Registration Certificate of Sales Tax Chartered Accountant Certificate Existing Bank Statement from the current banker for a minimum period of 6 months For Senior Citizens- Proof of DOB- Anyone of the following is required: Government ID card Passport School leaving certificate Driving License  Voter’s ID Card 8. Ration Card  LIC / Insurance Policy  Pension Card Issued Birth Certificate by Government Procedure to open TMB Super Flexi Current Account Persons desiring to open TMB Super Flexi Current Account can follow the procedure explained below: To open a TMB Super Flexi Current Account, the applicant needs to visit

A SEBI-Registered Investment Advisor should meet the minimum qualification and experience requirements, pass a certification examination, and adhere to strict regulations and ethical standards. Financial markets and investment instruments are getting more complex by the day. SEBI-Registered Investment Advisors provide expert advice on investment decisions. They also offer various services, including financial planning, investment management, retirement planning, and tax planning.  What is a SEBI-Registered Investment Advisor? The SEBI-Registered Investment Advisor meaning is a professional authorised and registered with the Securities and Exchange Board of India (SEBI) to provide financial advisory services to clients. A SEBI-Registered Investment Advisor must comply with the code of conduct, disclosure norms, and minimum qualifications and experience requirements set by SEBI.  The primary objective of a SEBI-Registered Investment Advisor is to offer unbiased and personalised investment advice to clients based on their financial goals, risk profile, and investment preferences. Investors can receive trustworthy and transparent advice from a SEBI-Registered Investment Advisor. Who needs to register as an Investment Advisor? In India, SEBI regulates the registration of Investment Advisors (IAs) under the SEBI (Investment Advisers) Regulations, 2013. The regulations define an investment advisor as someone who advises about investing in securities or provides research analysis. Any individual or entity that falls under the definition of an investment advisor must register with SEBI. This includes individuals, partnership firms, LLPs, companies, and any other entity that provides investment advisory services for a fee. Employees and representatives of investment advisory firms who interact with clients and provide advice should also be registered with SEBI. However, anyone engaged in incidental advice, such as a banker, chartered accountant, or insurance agent, is not required to register as an investment advisor. But, if such a person wishes to provide investment advice as a primary service, they can register with SEBI as an IA. SEBI regulations for a Registered Investment Adviser (RIA) Registration: RIAs must be registered with SEBI and meet minimum qualifications and experience requirements. They must also pass a certification examination.●    Fiduciary duty: RIAs must act in their client’s best interests and provide unbiased advice.●    Disclosure: RIAs should disclose all information about their investment products and services, including charges.●    Record-keeping: RIAs must maintain detailed records of all client transactions and interactions.●    Compliance: RIAs must comply with all SEBI regulations, including advertising and marketing, conflicts of interest, and client confidentiality. Eligibility criteria To be a registered RIA, one must have the following. ●    Minimum age of 21 years.●    Minimum five years of relevant experience.●    No prior convictions for any economic offence or violation of securities laws.●    A net worth of at least Rs. 1 lakh for individuals and Rs. 25 lakhs for non-individuals.●    Not a stockbroker or sub-broker, depository participant, or associated with one. Qualification The individual should have a minimum educational qualification of a graduate degree in finance, economics, or business administration or a professional qualification such as a CA, CFA, or MBA. They must also pass a certification examination conducted by NISM (National Institute of Securities Markets) or any other SEBI-recognized organisation. Registration as an Investment Advisor 1. Meet the eligibility criteria: You must have a relevant degree and work experience in related fields.2.    Passing the NISM certification exam: The NISM-Series-X-B: Investment Adviser (Level 1) certification exam is a stepping stone towards becoming an investment advisor.3.    Apply for SEBI registration: Apply to SEBI through Form A along with the necessary documents, including identification, qualifications, experience, CIBIL Score, net worth certificate, income tax returns, and an application fee.4.    Pay the application fee: You must pay Rs. 5,000 as the application fee.5.    Wait for SEBI approval: SEBI will review the application and may seek additional information if required.6.    Get registered: Once SEBI approves your application, you will be issued a registration certificate and can start offering advisory services.7.    Comply with regulations: You must comply with SEBI regulations and follow ethical standards while providing investment advice. What are the benefits of getting a SEBI-registered investment advisor? Credibility: Being registered with SEBI enhances your credibility as an investment advisor, as it shows that you have met the necessary standards and requirements set by the regulatory body.2.    Legal compliance: You must follow strict guidelines and comply with SEBI regulations, which help protect investors from unethical practices.3.    Business expansion: SEBI registration allows you to offer various services, such as portfolio management and financial planning, which can attract more clients and help expand your business.4.    Professional development: You must know the latest industry trends and regulatory changes.5.    Protection: SEBI provides a dispute resolution mechanism to help investors resolve conflicts with their advisors. Agreements between clients and RIA Agreements between clients and RIAs are crucial in clearly understanding the relationship between the two parties. These outline the terms and conditions of the services to be provided by the RIA, including the scope of services, fees, and the rights and responsibilities of both parties. The agreements may also cover the RIA’s investment philosophy, the client’s investment goals and risk tolerance, and the frequency of communication and reporting. It also includes provisions for terminating the agreement and resolving disputes between the parties. FAQs What is an investment adviser? An investment adviser is a professional or firm that provides advice or recommendations regarding securities investments for compensation. Why do I need to register as an investment adviser? Registration is typically required by regulatory authorities to ensure that investment advisers meet certain standards and regulations, protecting investors from fraud and ensuring transparency in the financial markets. Who needs to register as an investment adviser? In most jurisdictions, individuals or firms that provide investment advice as part of their business activities and meet certain thresholds, such as managing assets above a certain amount, are required to register as investment advisers. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR |

Stock investing and trading have become lucrative career options in India. Especially in the post covid period, India has seen a tremendous increase in the number of investors or and traders that have taken a plunge in the stock markets. While there are multiple investors and traders in the country, the number of stockbroker and sub brokers are relatively low. This creates a good career and business opportunity to become a stockbroker and a sub broker in India. Who is a stockbroker? A stockbroker can be a person or an entity that has the authority to purchase and sell securities on the recognized stock exchanges on behalf of the investors and traders. For this, the person or the entity has to first become a member of the recognized stock exchange after following the due process and paying the requisite fees. A person can also become a sub broker by working in a brokerage firm and acting on behalf of the trading member as their agent or otherwise.  What are the eligibility requirements to become a stockbroker? The applicant can be a person or any other organization (registered partnership firms, limited liability partnerships, corporations, companies, or institutions) The person has to be an Indian citizen of a minimum of 21 years of age. There is no limit on the maximum eligible age for being a stockbroker. The minimum educational qualification to be a stockbroker is having an HSC or its equivalent. Basic certification in either Securities Market (Basic) Module or Compliance Officers (Brokers) Module or relevant modules as per the required segment for membership of the Exchange. Capital Market (Dealers) Module Derivatives Market (Dealers) Module National Institute of Securities Markets (NISM) Series Derivatives Certification Examination The basic skills required by the applicants are, Analytical skills Communication and presentation skills Financial knowledge and good knowledge of computers Understanding of the stock markets and their movements Minimum experience of 2 years working as a partner, authorized assistant, or authorized clerk or apprentice to the member.  The Base Minimum Capital Deposit (BMC) required to be a stockbroker is tabled below. Category BMC  Only Proprietary trading without Algorithmic trading (Algo) 10,00,000 Trading only on behalf of Client (without proprietary trading) and without Algo 15,00,000 Proprietary trading and trading on behalf of Client without Algo 25,00,000 All Trading Members/Brokers with Algo 50,00,000 What are the documents needed to become a stockbroker in India? Along with the above-mentioned eligibility criteria, the applicants also have to submit the prescribed set of documents along with the application form. The required documents include A duly filled application form Basic details like the name and address of the applicant along with contact details, name of the trading firm, name of the stock exchange Documents asserting the type of organization like partnership deed, memorandum, and articles of association (in case of a non-individual) PAN of the applicant Educational qualifications of the applicant Certificate of registration or incorporation  Certificate of passing the required module MOU/ copy of the Contract Agreement entered with the clearing member in case where the applicant wants to clear and settle trades through such clearing member Recommendation from stock exchange Who cannot be a stockbroker in India? A person or an entity that has been adjudged bankrupt or insolvent. A person or an entity that has been convicted of any offense related to fraud or dishonesty. A person or an entity who has compounded with their creditors for less than the full discharge of debts. A person or an entity engaged as a principal or employee of any business other than securities except a broker or agent not involving any personal financial liability or for providing merchant banking, underwriting, or corporate or investment advisory services unless such ties are severed before admission as a member.  A person or an entity declared a defaulter or expelled by a recognized stock exchange or debarred from trading in Securities by SEBI or RBI or similar authorities or has been disqualified as per the provisions of Securities Contract (Regulations) Act, 1956 or Rules made thereunder.  If the membership application is rejected or disqualified by the registered stock exchange on grounds of it endangering public interest. What is the application process to become a stockbroker? The first step is to download the application form from the website of SEBI or by visiting its nearest office The next step is to submit the application form ‘Form A’ for Registration as Stockbrokers with SEBI along with all the required documents. If all the information provided is in order, the applicant will get an acknowledgment of their submitted application  The application form and the supporting documents will be examined for Board approval and SEBI certification following which the applicant will be issued an offer letter of temporary membership. The next step is the receive SEBI certification after further processing. Further, the applicant will have to submit the enablement documents to the membership department. The membership department will then provide access to the members on their trading system.  FAQs What are the fees for becoming a stockbroker in India? The fees applicable for becoming a stockbroker in India are-Application Processing Fees Rs. 10,000 (excluding taxes)-One time Admission Fees Rs. 5,00,000 excluding taxes for all segments except ‘Only Debt’Rs. 1,00,000 excluding taxes for the ‘Only Debt’ segment What is the minimum paid-up capital required by any company, or an institute to become a stockbroker in India? The minimum paid-up capital required by any company, or an institute to become a stockbroker in India is Rs. 30,00,000. What are the various categories of membership offered by an Exchange? he various categories of memberships offered by an exchange include -Trading member-Trading cum clearing member-Trading cum self-clearing member-Professional clearing member Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India