Looking to register your company as a private limited company? Registering your company as a private limited company is difficult as the procedure is complicated and involves many compliances. Do not fear as our experts can help you in every step of the private limited company registration. Instead of reading through the entire registration process, you can avail our expet service.
Step 1: Obtain Digital Signature Certificate (DSC)
Step 2: Obtain DIN
Step 3: Name Availability*
Step 4: Form SPICe+ INC-32
Step 5: e-MOA and e-AOA
Step 6: PAN and TAN Application
* The RUN Web service earlier available for name availability will be available only for change in name of an existing company. The change is effective from 23 February 2020.
Step 1: Obtain DSC (Digital Signature) Digital signatures are required to file the forms for company formation. The registration process is completely online and the forms require a digital signature. DSC is mandatory for all subscribers and witnesses in the Memorandum of Association (MOA) and Articles of Association (AOA).
You must obtain the digital signature certificates from government recognised certifying authorities Or you can get your DSC online in just two hours from here. The cost of obtaining DSC varies depending upon the certifying authority. You must obtain class 3 category of DSC.
Step 2: Apply for DIN (Director Identification Number) DIN is an identification number for a director. It has to be obtained by anyone who wants to be a director in a company. One DIN is enough to be a director in any number of companies.
There are 3 ways of obtaining DIN:
Option 1: File form DIR 3. The Form DIR-3 is applicable to a person who wants to become a director in an existing company. This form required basic details of the proposed director along with identity proof like PAN, Aadhaar Card, etc and address proof. With effect from 23 February 2020, in case of new companies, DIN can be applied within SPICe+ form for up to three directors.
Option 2: With filing SPICe+, DINs gets issued to the proposed directors who do not have a DIN. Under this process of filing through SPICe+ (INC 32), a maximum of three directors can apply for DIN. If the applicant wants to incorporate Company with more than 3 Directors and more than 3 persons doesn’t have DIN, in such a situation the applicant has to incorporate a Company with 3 Directors and have to appoint new directors later on after incorporation.
Option 3: Click on the link & let a TAXAJ expert procure DIN for you. If you go for Private Limited Company – Registration with TAXAJ, up to 2 DINs are covered in the plan & there is no need to apply for DIN separately.
Step 3: Name Approval
To get the name approval, there are following options:
Option 1: Reserving the name via Part-A of SPICe+ Form: In an attempt to ease procedures for new as well as existing companies,w.e.f 23 February 2020, the Ministry of Corporate Affairs (MCA) has introduced SPICe+ web service for the incorporation of a company. Part-A of the SPICe+ form allows for ‘name reservation’ with two proposed names and one re-submission (RSUB) while reserving Unique Names for the Companies.
In case of rejection of the name due to any similarity of name with a registered company, an LLP or trademark or due to non-adherence of the Companies (Incorporation Rules) 2014, the applicant has to re-file another SPICe+ form with prescribed fee. However, after the approval of the name, it will be reserved for a period of 20 days within which the company must proceed for incorporation by filing Part-B of the SPICe+ form.
Please note that DSC and DIN shall not required for filling of SPICe+ form for reservation of name. Only MCA Account is mandatory.
Option 2: Name approval by filing Part-A and Part-B of SPICe+ Form together: You can apply for the proposed name along with the application for incorporation. Part-B of the SPICe+ enables applying for incorporation. Similar to the earlier SPICe form, SPICe+ also enables combined application for incorporation and name approval. That means the Part-A and Part-B of SPICe+ form can be submitted together. However, only one name can be applied to this form.
In case of a combined application, in case of rejection due to non-approval of the name, the applicant will get a second chance of refilling the same SPICe+ form without any further charges. It means you get two chances of filing the same form without any extra charge of paying Rs. 1000/- both the times. The resubmission of the SPICe+ form (both for standalone name approval and incorporation) can be made using the ‘name applied for’ or ‘application number’ link available on the user’s dashboard.
In case of failure to get the name approved in the second go, you can file the SPICe form again from scratch. This will any day prove to be cheaper than opting for the first option. The whole process including name approval and incorporation takes around 2-3 days
Step 4: Form SPICe+ (INC-32) The MCA has introduced Form SPICe+ for the registration of new companies from 23 February 2020. The incorporation under Part-B of the SPICe+ form is also web based and streamlines the incorporation of companies.
Upon the name approval, the applicant can click on the link of the approved name (available on the user’s dashboard) and continue to complete the incorporation. The Part-B of the new SPICe+ form enables the web based incorporation and serves the following purposes with the benefit of a single application:
The new SPICe+ form facilitates web based entries and real time validation of data making incorporation a seamless and quick process. The details filled in Part-A and Part-B of SPICe+ will be automatically filled in the linked forms AGILE-PRO, eAoA, eMoA, URC1, INC-9 (as applicable).
All these forms have to be downloaded in PDF and digitally signed, and later submitted for incorporation purposes. Upon the filling of the SPICe+ form, the user has to also download the form SPICe+ in a PDF format and affix the DSC to digitally sign the form.
The digital signature of a professional is required to file Form INC-32. The professional must certify that all the information given in the form is correct. The professional can be Chartered Accountant, Company Secretary, Cost Accountant or advocate.
Prior to May 2015, the registration of companies required the filling up of several documents, such as the DIR–3 for acquiring the DIN (Director Identification Number), INC-1 for obtaining a name, INC–7 for registering the company with the Memorandum and Articles of Association, INC–22 for the registered office and finally, Form DIR-12 for the directors. With effect from January 2018, New Process of Name Approval “RUN” notified and e-form INC-1 omitted. INC-7 form omitted.
Now, all of these forms have been merged together in the SPICe+ form and RUN service is available only to change existing name. Only way out for incorporation of Company is SPICe+ form. No ROC fees for Incorporation of Company up to 10 lack of authorized capital.
Step 5: e-MoA(INC-33) and e-AoA (INC-34) e-MoA refers to an electronic Memorandum of Association and eAoA is electronic Articles of Association. These forms have been introduced to simplify the process of company registration in India.
Memorandum represents the charter of the company while articles of association contain the internal rules and regulations of the company.
Earlier memorandum of association and articles of association were required to be filed physically. But now these forms are filed online on MCA portal as a linked form with SPICe+ (INC-32). Both these forms must be digitally signed by subscribers to the Memorandum and Articles of Association.
Step 6: PAN and TAN Application Through this single form SPICe+, you can also apply for company’s PAN and TAN. The system will auto-generate these forms after the submission of SPICe+ form. The Certificate of Incorporation of PLC is issued with the PAN as allotted by the Income Tax Department after approval of the SPICe+ Form. An email containing the Certificate of Incorporation, PAN and TAN will be sent by the MCA. The Income Tax Department will issue the PAN card.
If all the details in the form are duly filled in along with the required documents, MCA will approve the registration and a CIN (Corporate Identity Number) will be allocated. You can also track this CIN online on MCA portal.