Company registration in India has now become very easy and convenient. Just need to follow the 4 simple steps:
1- Acquire your Digital Signature Certificate(DSC) within the stipulated time. 2- Get your Director Identification Number (DIN) at the earliest. 3- Register your entity on the MCA Portal as New user registration. 4- Get the Certificate of Incorporation delivered at your doorstep.
With this, we have tried to cover all the basics of how to register a company. If you still need any assistance on company registration, don’t stress over it, and let our team of experts guide you.
improve the ease of doing business in India, Ministry of corporate affairs
(MCA) has recently come out with a new and updated version of SPICe form viz.
SPICe+ (SPICe plus form). This new MCA form will help the new companies by
making the complete process of company registration easy & convenient for
will be applicable from 15th February 2020.
Spice+ Is Different From The Older Version?
SPICe+ offers a bucket of 10 services with an integration of 3 central government ministries & departments viz. Ministry of corporate affairs (MCA), Ministry of Labour & Ministry of finance and Government of Maharashtra. It helps in limiting the procedural constraints for company registration in India and ultimately saving onto time & cost involved in new company registration. SPICe plus form also helps in ease of doing business in India
1. Integrated web form.
2. SPICe+ form is divided in two parts
viz. Part-A & Part-B.
3. Part-A: Reservation of Name (for new
4. Part-B: offering multiple Services
Director identification number (DIN)
Tax deduction/collection account number (TAN)
Permanent account number (PAN)
Employee provident fund organization (EPFO) Registration
Employee state insurance corporation (ESIC) Registration
Professional tax registration (Maharashtra)
Compulsory opening of the company’s bank account
GST Identification Number (GSTIN)
5. Users have the complete liberty of filling Part-A first, reserve the name for their company and complete Part-B afterward OR user can file Part-A & B together at one go for new company registration.
6. Under SPICe+, a new User-friendly dashboard is created for the convenience of the users.
7. A new Reserve unique name (RUN) service option will be applicable from 15th February 2020 (Only for existing company)
8. On-screen filing and real-time data for new company registration
9. Information entered is saved and can be modified in the future (in case of error).
10. Once SPICe+ the form is filled online, it has to be converted into PDF for affixing Digital signature certificate (DSC).
11. Digitally the signed application must be uploaded back on the portal, with the linked forms.
Ans. SPICe+ (Simplified proforma for incorporating a company electronically) is a comprehensive & integrated web form, which is a new initiative by the MCA, Government of India for ease of doing business in India.
Q Who can file SPICe+ form?
Ans. Following types of companies need to fill SPICe plus form before new company registration:
Private limited company
Public limited company
One person company
Section (8) companies
Any other company
Q When one should file SPICe+ form?
Ans. One must file SPICe+ form before company incorporation and it is applicable from 15th February 2020.
Private Limited Company registration is the most popular business entity among businessmen in India, it suits all kinds of industries whether small, medium, or large businesses. According to the data reports on the Ministry of Corporate Affairs website around 10,000+ companies are incorporated every month. A private limited Company as the name suggests is a closely held Company which limits the shareholder’s liability to the extent of the contribution made by them, providing the owners:
A Legal Entity
Seeing the popularity of Private Limited Company Registration we have summed the whole process in four simple steps:
STEP 1: DIGITAL SIGNATURE CERTIFICATE (DSC)
The first and foremost step is to obtain the digital signature certificates for the proposed directors and subscribers. DSC’s are required for filing e-forms on the MCA portal. There are government specified certifying authorities who can issue DSC’s. DSC’s are tokens with a validity of 1-3 years. The promoters/directors/subscribers need to get their mobile, email and video verification done to procure their Digital signature Certificates. The application and verification process takes around two working days.
STEP 2: NAME APPROVAL
The second step being name approval, the proposed name of the Company needs to be filed using the RUN form. The reserve unique name facility is provided by the Ministry of Corporate Affairs under the ease of doing business initiative. It’s a web form which is available for new and existing Companies. The form requires two names in the order of preference along with a brief regarding the business of the Company. Name Approval is done within 24 hours and the name so approved is reserved for 20 days, once the period has lapsed a fresh application is required.
STEP 3: COMPANY INCORPORATION CERTIFICATE
Once the name of the Company is approved, the application for the incorporation certificate needs to be filed. The Ministry of Corporate Affairs has provided a comprehensive form i.e. SPICE, Simplified Proforma for Incorporating a Company Electronically, through which one can apply for allotment of DIN, name reservation, incorporation certificate, PAN and TAN application in the same form. The SPICE form needs to be submitted along with the SPICE-form MOA (Memorandum of Association) and SPICE-form AOA (Article of Association) by paying the requisite fee and the stamp duty of the concerned state.
STEP 4: COMMENCEMENT OF BUSINESS
Every Company having a share capital incorporated after 2nd November, 2018, needs to file a declaration needs to be filed in form 20A to be issued by the directors within 180 days of Company Incorporation in India stating that the subscribers to the Memorandum of the Company have paid the value of the shares with a proof of subscription money received. The company can start operations only once the commencement of the business form has been filed.
With the ease of doing business initiative by the government of India, the cost of Company registration has marginally been reduced. Once can expect the charges around 3000-6000 per registration, which may differ from state to state.
-How long does it take to register a company in India?
The whole Company registration process is online, it generally takes around 5-7 working days to incorporate the Company as there are a few verifications and validations required by the client.
-What documents are required to register a company in India?
To register a private limited Company in India one needs to follow the above mentioned procedure or take the help of ca services. For detailed information visit our knowledge corner by clicking on the below mentioned link: https://blog.caonweb.com/ (Search & find related topic).