Register a Company in India


Introduction

The very first step for forming a company is Company Registration. In an economy where competition is always at its peak, companies must follow a very streamlined and correct approach, be it the incorporation, registration, filing returns, or claiming input tax credit.

Once the company is incorporated, there are some procedures the company must follow to commence business. A few legal formalities are to be followed before the company can start its business operations.

Following is the guide about the documents a company needs to obtain to incorporate a company in India:

(i) Send an Application for Incorporation of the company

The incorporation application must be made with the Registrar where the office is situated. The application for incorporation shall be filed in E-Form SPICe (INC-32) along with E-Form INC-33 (Memorandum of Association) and E-Form INC-34 (Articles of Association).

(a) INC-33 (E-MOA)

This Form is linked with the SPICe (Simplified Proforma for Incorporating Company Electronically) INC-32, introduced by the Ministry of Corporate Affairs (MCA). As noted under Schedule 1, the applicable company must select the table of MOA applicable.

(b) INC-34 (AOA)

This Form is linked with the SPICe INC-32 form. The table of AOA has to be selected, and there is an option to alter or add an article to the Form.

Introduction of SPICe-Form INC-32

SPICe Form INC-32, a simplified proforma introduced by the Ministry of Corporate Affairs for incorporating a company electronically, is a single application that is basically used for reservation of the name, incorporation of the company, and/or application for allotment of the Director Identification Number (DIN). INC-32 Form, just like Form INC-29, can help instantly track a company's incorporation in India.

SPICe or Form INC-32 has simplified the incorporation process of a company in India to a great extent. With the help of the SPICe Form, a company can be incorporated within 1 or 2 days. Following are the type of companies which can be incorporated in India using the SPIC or INC-32 Form:
  • (a) Private Limited Company
  • (b) Public Limited Company
  • (c) One Person Company
  • (d) Section 8 Company
  • (e) Producer Company

Also, a company can be of many categories, including a company limited by shares, a limited by guarantee, or an unlimited company.

Procedure for Filing the SPICe - Form INC-32

To file the INC-32 Form, the company has to provide documents like the details of the Directors, subscribers, affidavits, identity proof, address proof, MOA, and AOA. It is then further forwarded to the MCA's Central Processing Centre. The company will be registered and given a Corporate Identity Number (CIN) if the application is approved. If the proposed directors do not have a Director Identification Number (DIN), the director would be given a valid Director Identification Number (DIN). The INC-32 Form will help obtain the PAN, TAN, and ESIC registration.

Declaration by an Authorized Professional

The company incorporation form or the INC-32 form must be digitally signed by a professional Chartered Accountant, Cost Accountant, Advocate, or a Com, PA secretary who must elucidate/declare that all the information presented in the Form is accurate.

Important Documents Required for SPICe Form INC-32:

  • (1) Articles of Association and Memorandum of Association - The AOA and MOA are applicable and mandatory only if it is a Section 8 company or a company with foreign subscribers who do not have a Director Identification Number (DIN).
  • (2) Proof of office address.
  • (3) Proof of residential address and identity of the subscribers.
  • (4) Proof of residential address and identity of directors.
  • (5) First subscriber(s) and director(s) affidavit and declaration - mandatory in all cases.
  • (6) A No Objection Certificate (NOC) issued by the sole proprietor/partners/ other associates / existing company.
  • (7) A copy of the utility bills not over two months.
  • (8) A copy of approval only in case the proposed name contains any word(s) or expression(s) that requires the Central Government's approval.
  • (9) It is mandatory to attach the trademark certificate or trademark application copy if the proposed name is based on a registered trademark or if it is a subject matter of an application pending for registration under the Trademarks Act.

Procedures for Incorporating a Company are as follows:

  1. A new company has to obtain a Director Identification Number (DIN) for the proposed directors.
  2. After that, the sole promoter/director of the company must obtain a Digital Signature Certificate (DSC).
  3. Once the Digital Signature Certificate (DSC) is obtained, the company has to file a proposed company name with the Registrar of Companies for approval.
  4. The company has to print the Memorandum of Association and Articles of Association.
  5. The Stamp duties need to be paid online.
  6. The company must file all company incorporation forms and relevant documents along with the Memorandum of Association (MOA) and Articles of Association (AOA).
  7. After this, the Company Incorporation Certificate has to be obtained.
  8. Now, the company requests the incorporation certificate to start its operations.
The certificate of commencement of business is required to be obtained by the Registrar of Companies. This document acts as evidence for the company to commence its business. The next step after a successful company incorporation is GST registration. In the GST Regime, businesses with turnover exceeding Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) must register as an average taxable person. For certain businesses, registration under GST is mandatory. If the organization continues business without registering under GST, it will be an offense, and heavy penalties will apply. EZOTO Software - By Downloading this Accounting Software, you will be able to manage invoices, accounting, credit, inventory, customers, etc, and fulfill all your accounting needs