What is the New Procedure for Company Registration in India?

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What is the New Procedure for Company Registration in India?

Company registration is the process for the establishment of any company. Company registration and Company incorporation are the similar terms. Registration is a formality for any business. This formality is necessary to open a company. Opening a company with vision is not an easy task. Business expansion needs a registered firm. There are guidelines to be followed to form a fully formed company .These guidelines should be followed to run a business smoothly.

People involved in the company should have 2 directors and shareholders. Both of them can be same.

Now company can be registered in a single day

Company registration can be done in a single day without wasting precious time. People can register a company in a day as the government has taken initiative. This process involves the process with the automated system, which is less time consuming compared to the manual system.

Registration can be done on MCA Portal

Here are some Documents required for company registration in delhi - 

• Copy of Pan Card.
• Copy of ID proof(Voter id , Aadhar Card, Passport, DL)
• Copy of Address proof(Electricity bill, Phone bill documents should not be older than 2 months)
• Apply for the DIN(Director identification Number) .
• Digital Signature Certification(DSC) registration of the directors.
• Check Company name and fill and at least 4-5 Company name.
• File e-forms to ROC regional office on MCA Website like SPICe form.
• Pay ROC Stamp Duty.
• Confirm and Verify through a website.
• Issue a Certificate of your company.

What is SPICe?

Simplified Proforma for Incorporating Company Electronically(SPICe) notified fourth amendment rule 2016. In this form, INC-32 along with MOA in a company can be incorporated, e-form INC-33 and AOA in e-form INC-34.It is an amendment which has been introduced by MCA of pre-drafted MOA and AOA electronically. The major changes were brought in 2015 where the incorporation is by filling E-form INC-29 as against the 5 forms. (i.e. DIR-3 for application for obtaining DIN, INC-1 Company name approval, INC-7 for Company registration with MOA and AOA, INC-22 for registered office address and Form DIR-12 for first directors of a company) filed before the change. Due to this change, the whole process of incorporation has summed in a single form.

Advantages of Registering a Company

It is a smart choice for any business that a company should take all the benefits with the condition of the market. Registration of business makes an addition to these benefits. Certain liability like taxation is easy to manage when the firm is a registered one. Brand enhancement is the key role of any company which is an addition to the profit of any company. You might be aware of these points.

• Availability of easy loans.
• Standard reputation is maintained.
• Easy to establishment of business bank account.
• People take interest in company's work.
• Ensure whether a name of your choice is registered or not.

Think before you register

• Rules and Regulations create barriers.
• The Company ears an extra cost on this process.
• Legal troubles like compliance burden increases.

Heavy spending on Minimum viability of the product

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