Documents Required To Start New Company / Business In India
INC-29 is now the only document required to start a new company or business in India. The ministry of corporate affairs has introduced a major reform that cut downs the number of documents required to incorporate in India from 8 to just 1 [INC-29]. This move is expected to simplify the entire process and make it a lot faster as well. The single form will now be able to let you obtain your DIN (Director Identification Number), check for name availability for your new company and complete other formalities.
Earlier, the process of starting a business in India was lengthy and required you to submit about 8 different forms viz. the DIN application form, new digital signature certificate, name of company (INC-1), registration of the company, MoU, AoA, INC-22 for details of registered office, and DIR12 for every director).
With the availability of just ONE form to fill, I'm sure this is the big step in the right direction to push India up in the list of ease of doing business country-list. As of now, India stands at Rank 142 out of 189 and the government seems to be committed to improving the rank to top 50 in the next 2-3 years.
I'm uploading the form INC-29 to our Downloads section. You may download the form and fill it. If you have questions, opinions or feedback, you may post them in this discussion.
PS: I'm attaching the form for download here, but you are advised to download the form from official website: #-Link-Snipped-#
Earlier, the process of starting a business in India was lengthy and required you to submit about 8 different forms viz. the DIN application form, new digital signature certificate, name of company (INC-1), registration of the company, MoU, AoA, INC-22 for details of registered office, and DIR12 for every director).
With the availability of just ONE form to fill, I'm sure this is the big step in the right direction to push India up in the list of ease of doing business country-list. As of now, India stands at Rank 142 out of 189 and the government seems to be committed to improving the rank to top 50 in the next 2-3 years.
I'm uploading the form INC-29 to our Downloads section. You may download the form and fill it. If you have questions, opinions or feedback, you may post them in this discussion.
PS: I'm attaching the form for download here, but you are advised to download the form from official website: #-Link-Snipped-#
Replies
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Ankita Katdare#-Link-Snipped-# This is really great. I just went through the old list of documents required for starting a company in India and it was magnanimous. I found these:
- VAT Registration
- Service Tax Registration
- Shop Establishment Licenses
- DSC
- Direction Identification Number
- File Form INC 7, DIR 12, INC 22
- Certificate of Incorportation
- etc..
-
Kaustubh KatdareRegistering a business is one thing and getting taxation related documents is other. I'm not fully aware of the changes; but based upon the nature of your business (products, services, traders) and the type of company registered; the number of documents required could be different. If it's a private limited company, one can simply get their Director Identification Number (DIN) first; which is the first requirement before one can form a private limited.
Once the DIN is obtained, company can be registered. The company will also have to make it clear what type of business it will deal with - which is a part of MOA and AOA (memorandum of association) and (articles of association). Upon successful registration of the company with the registrar of the companies; the company will receive 'Certificate of Incorporation', which mentions the CIN aka corporate identity number.
The company may then acquire certificates necessary - logo registration, IP, Patents, Service Tax (if service oriented), Sales Tax (if products oriented) etc.
I think only the company registration part has been simplified and is completely online. I'm sure in future we'll see the process getting down to just a few clicks.
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