To promote existing policies like Startup India and Make in India, Modi Government has came up with this initiative which will reduce the incorporation period from 15 days to 1 day.
With the introduction of this form, the applicant will get Company Name approval, Director Identification Number, Certificate of Incorporation of Company, Company’s PAN & TAN number within 1 day only.
Key Features of the Scheme
- Incorporation of Company using SPICe Form (Simplified Performa for Incorporating company electronically)
- Incorporation of a Private Limited Company in One day
- Fee for filing Incorporation Fee has been reduced from Rs.2000 to Rs.500
- Applicant will get Certificate of Incorporation, PAN and TAN number in one single day
- Previously it took about 15 days to incorporate a Company which is now reduced to 1 day
- This is common form to get approval of name, DIN allotment and Incorporation
Requirements to incorporate a Company in India
- 2 persons entitles to become director of Company
- Place of business
- Qualified Professional like Chartered Accountant to sign & Authenticate incorporation forms
- Digital Signatures of all directors
- All directors must have PAN card and One Identity Proof like Aadhar Card or Passport or Election Id
What to do immediately after Incorporation of Company
- Open Bank Account of the Company
- Order Business Stationary
- Appoint Auditor of Company
This blog is written by CA. Ankit Gupta who is a founder member of eMunshe.com , a web portal where Startups can come to register their business, give them legal Identity at the least cost in India.
