How to incorporate a new company in India
How to incorporate a new company in India:
This article is covering how to incorporate a new company in India. MCA 21 has introduced the new procedure to create a new company in India. It is more simplified than earlier one. Here in this article we will discuss the process of company formation.We have drafted this article to explain the procedure for it. In earlier procedure name was reserved first. Here also you are required to reserve the name. A fees of Rs. 1000 is payable for name reservation. In case of any qualification from MCA , you will be informed via email. You can resubmit the form with required details. Company formation is easier now. You can fill all the forms via SPICe form.
Step 1: Create a login on MCA portal:
First step to create a login on MCA portal. Go to the MCA portal and click on registration. A form will open on the screen. You need to fill that form to register on MCA portal. It is compulsory to register first. Only them you will be able to access other features.
There will be two options to select from. First is registered user and second is business user. If you will select the business user, You will be required to choose any one of following.
- Director/Designated partner/Authorised Representative: If you will select this you are required to fill the DIN and PAN number of the person want to register.
- Company User – Other
If you choose Company User-Other, Income Tax PAN is required.
Step 2: Reserve a name using RUN facility:
The second step is to reserve the name of company. Proposed name can be reserved for upto 20 days. It is desired that other compliance related to formation of company shall be completed within that period. Thus you can reserve the name of company.
Step 3: File the SPICe Form:
The last step to form a company is to fill the SPICe form. This form is available on the MCA portal. It includes the information related to the business of the company, details of directors and shareholders. AOA and MOA can also be filed online using SPICe AoA and SPICe MoA. Name can also be reserved through SPICe form directly. You have both options. You can reserve name via RUN form or via SPICe form.
SPICe can be used to apply for DIN also. Now we can easily incorporate company using SPICe and e AOA and MOA. It is simpler now. It take less of time and efforts.