To register a new company in India, the applicant needs to submit an application to the Ministry of Corporate Affairs (MCA) in accordance with the rules and regulations mentioned in the Companies Act 2013. The Government of India introduced SPICE+ form for Ease of Doing Business (EODB) saving as many procedures, time and cost for starting a business in India. SPICE+ serves as a single application for reservation of name, application for allotment of DIN incorporation of a new company and application for PAN and TAN.
SPICe+ web form offers 11 services by 3 Central Government Ministries & Departments. (Ministry of Labour & Department of Revenue in the Ministry of Finance, Ministry of Corporate Affairs,) and 3 State Governments (Karnataka, Maharashtra, West Bengal)
The following companies can be incorporated under the Companies Act 2013
- Public Company
- Private Company
- One Person Company
- Charitable Company (Section 8)
- Nidhi Company
In case the paid-up share capital of an OPC exceeds Rs 50 lakh or its average annual turnover of immediately preceding 3 consecutive financial years exceeds Rs 2 crore, then the OPC has to mandatorily convert itself into a public or private company.
How to register a Public, Private & One Person Company
The following are the steps of incorporation of the company:
- Name reservation: Reserve Unique Name (RUN) by using RUN service of MCA portal which will be valid for 20 days
- Within 20 days, stakeholders can avail of the following services in SPICE+ form (INC-32) – Simplified Proforma for Incorporating Company electronically (SPICe) – with eMoA (INC-33), eAOA (INC-34):
- Incorporation of a new company
- Allotment of Director Identification number (DIN),
- Mandatory issue of PAN, TAN, EPFO & ESIC registration
- Mandatory issue of Profession Tax registration for the companies to be registered in Maharashtra, Karnataka and West Bengal
- Opening of bank account of the company (mandatory)
- Allotment of GSTIN (if applied), and
- Allotment of Shops and Establishment Registration (Only for Delhi location)
Companies with an authorized capital of up to Rs 15 lakhs would continue to enjoy ‘Zero Filing Fee’ concession, incorporated through SPICe. Only stamp duty fees will be levied as applicable from state to state.
- If the company is having more than 7 subscribers, then it’s compulsory to prepare MOA and AOA physically and then scan and attach it with form SPICe (INC 32)
- Declaration by CA/CS/CMA/advocate that company has been incorporated by complying with the acts and rules in form INC 8
- Declaration in form INC 9 by all the subscribers and first directors that they have not been found guilty relating to promotion, management, administration of the company, or any fraud in the last 5 years
- Certificate of incorporation containing CIN, PAN, TAN will be given by Central Registration Centre (CRC) within 1 working day
- After form SPICe registration, the company shall file form INC-22 within 30 days of incorporation in case the address of correspondence and registered office address are not the same.
- For OPC, along with INC 32, submit INC 3 containing the nominee’s consent
- For incorporating companies in those sectors whose regulator’s approval is required, such approval must be submitted along with INC 32.
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How to register a Charitable company/NGO
Section 8 companies can be registered as public or private limited with the object of promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment or any such other object.
Here are the following documents required to be submitted for the formation of a company with charitable objects:
- For the application of DSC, a self-attested copy of
- Photo ID – PAN/Voter ID/Driving License
- Address Proof – Voter ID, Bank Statement, Utility Bill (Bank Statement and Utility bills should not be older than the last 2 months)
- Photos of the applicant (even soft copy will serve the purpose)
- For Name Availability
- Proposed name (use of word Foundation, Association etc. is mandatory for Section 8 company)
- Main Objects of the Company
- For SPICE+ form–Application for Incorporation Certificate
- MOA in form INC -13
- AOA in form INC-31
- PAN of the subscribers to the Memorandum (1st directors of the company)
- Proof of ID and Address of the subscribers to the MOA
- Notarized Rent Agreement of the registered office
- NOC from the owner to use the premises
- Utility bill of the premises, not older than the last 2 months
- Declaration under form INC 15, from all the directors
- Declaration under Form INC 14 by the Chartered Accountant
- Estimated Income and Expenditure for the next 3 years in the Prescribed Format
- For AgilePro-S
- Name of the Bank, where the company is willing to open the bank account
- Specimen Signature for EPFO
- NOC for opening a bank account
- Declaration of authorised signatory for GSTN
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How to register a Nidhi Company
Nidhi Company incorporated under the Companies Act 2013 shall be a public company with a minimum paid-up capital of Rs 5 lakhs. The company is not allowed to issue preference shares. Further, Nidhi company shall have only the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, in its MOA.
Documents required for Registration of Nidhi Company:
- Identity (PAN card) and Address proof (bank statement, electricity bill, telephone bill, water bill) of all subscribers and directors cum subscribers of the company
- Utility bill (electricity bill, telephone bill, water bill) of the proposed registered office address
- NOC from the owner of the proposed registered office for using the premises
- Declaration from all the directors and subscribers under Rule 4, 5, 6 and 10 of NIDHI Rules, 2014