INCORPORATION OF COMPANY IN 48 HOURS!

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The government of India has notified on 1st May, 2015, a new system of incorporation of Private and Public limited company. It is now possible to incorporate the company by filing one integrated form with the Roc.
In this article all the KEY POINTS and the ATTACHMENTS to form (INC-29) for this new system is mentioned.

Now we can register a company by filling one integrated form i.e. INC-29

The INC-29, a 5-in-1 form for:-
1) Application for DIN Allotment,
2) Name Reservation,
3) Incorporation of company,
4) Director’s details,

5) Company’s registered office details,
6) PAN & TAN application.

While making the process cheaper. As the entire incorporation process is in a single form, correct filing could mean approval in 48 hours, the government claims and it will also reduce the Roc charges, charged by MCA in different forms for registration of company.

In existing long process following forms are to be filed:-

1 DIR 3 DIN ALLOTMENT
2 INC 7 INCORPORATION
3 INC 22 REGISTERED OFFICE
4 INC 1 COMPANYNAME APPROVAL
5 DIR 12 DIRECTOR APPOINTMENT
6 PAN FORM PAN APPLICATION
7 TAN FORM TAN APPLICATION

In simplified new process on I form INC 29 is to be filed for all the above 7 functions.

 

STEPS FOR INCORPORATION OF COMPANY THROUGH INC-29

STEP-1: APPLY FOR DIGITAL SIGNATURES

Digital Signature must be obtained for one of the proposed Director of the Company. Class 2 Digital Signatures will be required for filing form INC-29.

One can obtain Digital Signatures by submitting; the signed Digital Signature form along with attested copy and a copy attested by a competent attesting authority* of PAN Card and Address Proof.

Competent attesting authority: Gazetted officer, OR Bank Manager OR Post Master.
Person attesting the documents has to mention his/her name and contact no. also.

PROOF OF IDENTITY PROOF OF ADDRESS
 
Passport Telephone bill
Copy  of driving license Electricity bill
Pan card Water bill
Post office id card Gas connection
Copy of bank account passbook Bank statement signed by bank
Photo id card issued by centre/state government Driving license
Any Government issued photo ID Card bearing the signature of the individual Voter id card/passport/ Service Tax/VAT Tax/Sales Tax registration certificate

 

STEP-2: FILE INC-29 FOR THE FOLLOWING

  • To apply DIN(s) upto a maximum limit of 3 directors.
  • To apply for reservation of name (only one single name can be proposed)
  • To apply for registration of the company
  • To provide details of the directors
  • To furnish the details of the registered office
  • To apply for PAN-TAN

STEP-3: ATTACH THE FOLLOWING DOCUMENTS TO FORM INC-29

  • Memorandum Of Association
  • Article of Association
  • Affidavit and Declaration by the first subscriber(s) and directors(s)
  • Proof of Office Address
    1) Conveyance
    2)Lease Deed
    3) Rent Agreement along with rent receipts
  • Copy of Utility Bills (not older than 2 months)
  • If one wants to apply for PAN-TAN, jurisdiction details are needed to be mentioned
  • Proof of Identity and Residential Address of subscribers and applicants
PROOF OF IDENTITY PROOF OF ADDRESS
   
Voter ID Card Bank Statement
Driving Licence Electricity bill
Passport Telephone Bill
Aadhar Card Water Bill

 

  • Approval of the owner of the Trademark or the applicant of such trademark for registration of Trademark (If the proposed name is based on a registered trademark or is subject matter of an application pending for registration under the Trade Marks Act)
  • Proof of relations of the relative with promoter (If the name of the proposed company includes the name of the relative(s) of the promoter.
  • NOC from the sole proprietor/ partners/ other associates/ existing company (If the promoters are carrying on any partnership firm, sole proprietary or unregistered entity in the name applied for)
  • NOC from any other person (In case the proposed name contains name of any person other than the promoter(s) or their closed blood relative(s)
  • Copy of certificate of incorporation of the foreign body corporate and resolutions passed (If any subscriber to the proposed company is foreign company and/or company incorporated outside India)
    NOTE: It is optional to attach copy of certificate of incorporation, in case the subscriber to the proposed company is a company itself.
  • Resolution passed by the promoters of the company if any subscriber to the proposed company is a company itself.
  • A certified true copy of NO OBJECTION certificate by way of board resolution (In case the name is similar to any existing company, then it is mandatory to attach)

Interest of the first director(s) in entities (In case any of the director has any interest in the proposed company)
STEP-4: FORM TO BE DIGITALLY SIGNED BY ONE OF THE PROPOSED DIRECTOR USING HIS/HER DSC

STEP-5: DECLARATION AND CERTIFICATION BY PROFESSIONAL

Declaration and certification to be digitally signed by the professional along with their Membership No. as well as Certificate of Practice No. of by the professional

HERE, Professional means CA/ CS/ CMA (in whole time practice).

STEP-6: UPLOAD THE FORM ON THE MCA PORTAL

Upload the duly filled form on the MCA portal on www.mca.gov.in and PAY the requisite fee.

STEP-7: IF THE ADDRESS OF CORRESPONDENCE OF THE COMPANY IS NOT THE REGISTERED ADDRESS

If the address of correspondence of the company is not the address of the registered office of the company in this case, the company shall establish its registered office within fifteen days of the approval of this application for incorporation via e-form INC-22

After uploading the form INC-29 on the MCA portal (www.mca.gov.in) and payment of fee, INC-29 will be processed by MCA.

On finding it correct and complete in all manners, form will be approved.

If this article has helped you in any way, it would be appreciable if you could share or like it.
For any queries regarding this article or company incorporation/formation, feel free to contact our experts at info@businessmantranews.com
Thank you for visiting www.businessmantranews.com

CA Manisha., Author is a practicing chartered accountant and may be reached at info@businessmantranews.com

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