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Please help to know correct NIC code

pr br (319 Points)

11 February 2023

I am first time registering for a udyam certicate online .

I am a authorised partner (sub broker) of a stock broker . I earn comission under section 194H and file ITR 3.

While registering for UDYAM certificate what NIC code is correct for my business activity ??

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3 Replies

Divyam Agarwal (Practicing Chartered Accountant) (959 Points)
Replied 11 February 2023

It can fall in either/all of Divisions 64,66 or 74

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Udyam Registration (execcutive) (24 Points)
Replied 19 April 2023

The NIC (National Industrial Classification) code is a system of classification used in India to categorize different types of economic activities. The code is assigned to businesses based on their main economic activity.

To determine the correct NIC code for your business, you can follow these steps:

Identify the main economic activity of your business. This can be the production of goods, provision of services, or both.

Visit the official website of the Ministry of Corporate Affairs, Government of India (https://www.mca.gov.in/).

Click on the 'Master Data' tab on the top navigation bar and select the 'NIC Code' option from the dropdown menu.

Enter the keywords related to your business activity in the search bar and click on the 'Search' button.

You will see a list of possible NIC codes related to your business activity. Review each code to find the most suitable one for your business.

Once you have identified the correct NIC code, use it to complete your business registration or update your existing registration.

Note - Check to hear the NIC Code for udyam registration

It's important to note that the NIC code may vary based on the specific details of your business. It's recommended to consult with a professional advisor or government authority to ensure that you have identified the correct NIC code for your business.

Harshini Hasthavaram (31 Points)
Replied 21 April 2023

Hey,

You must first apply on the Udyam portal for registration as a micro, small, or medium-sized business. Under the micro, small, and medium enterprise development act of 2005, it is important to get registered.