Company Registration in India

Article will guide about Company Registration in India including process, minimum requirements and mandatory compliances to be made.

With formation of company comes several statutory compliances which requires mandatory adherence. Compliances of Private Limited Companies/One person Company is less than that of Public Companies. Companies Act, 2013, Income Tax Act and GST Act, have laid out certain annual compliances for companies which has to be adhered to.

All the Compliance forms are available on MCA Portal >> https://www.mca.gov.in/content/mca/global/en/home.html

Minimum Requirements for Company Registration in India

• Number of Shareholders – A minimum number of 2 shareholders are required for company registration. However, for private limited company maximum number of shareholders is caped at 200.  
• Number of Director – A minimum number of 2 directors are required for company registration. Ideally, directors appointed for functioning of company’s operations and shareholders are the owners of the company, but directors can also become shareholders of the company.
• Resident Director – Company have at least one resident director.
• Proper & Eligible Name – Name of the company should not be undesirable and resemble from existing company. Trademark registry should be checked to ensure name does not match with any registered or applied trademark in India
• Registered Address – A registered address should be maintained by company at all times. All the records such as accounts, financials, registers of members, register of directors, register of related party transactions, register of director shareholder must be kept at registered address of the company.

Documents Required for Company Registration

1. KYC documents of all the directors – PAN, Aadhar or Voter ID or passport or driving license
2. Photograph of director
3. Email IDs & Mobile No of director
4. Digital Signature of Directors (DSC)
5. Address proof of director
6. Address proof of company
7. Object clause of Company

Company Registration Process

The following are the steps involved in registering a company in India:

Step 1: Name Approval

Name approval is the first step company registration which is the online process. Go to MCA portal and logon, under the tab MCA services select spice+ form and the click on new application. Spice+ Part A form will open and Select the type of company, enter 2 Name preferences in order of preference, describe objects of the company and click on check form and if everything is in order click on submit and pay the name approval fees of INR 1000 in case of private limited company.

Step 2: DSC of Directors

For filling MCA forms, DSC is mandatory for all fillings of MCA.

Step 3: Incorporation Application Submission

Once the Name gets approved in Spice+ Part A, fill option get enabled on the below mentioned Spice+ Part B form and click on the same. The forms will have to be filled in the sequence listed below:

• Spice+ Part B
• Agile-PRO-S
• Spice+ MOA
• Spice+ AOA
• INC-9

Fill the entire incorporation forms and if the forms are in order as per MCA the Certificate of Incorporation is granted with PAN of the company. The Incorporation forms are mandatorily before submitting should be certified by a practicing CA, CS or advocate.

Private Limited Company Compliances post Company Registration

Important compliances to be kept in mind for Private Limited companies:

Also refer to article to check detailed list of compliances >> https://www.taxledgeradvisor.com/annual-compliances-for-private-limited-companies/

1. Auditor must be appointed within 30 days of incorporation and relevant MCA form should be filed to intimate ROC
2. First Board Meeting should be held within 30 days of incorporation and auditor appointment should be made in the same meeting
3. A Company must have a bank account which should be opened within 180 days of such incorporation and share capital must be deposited in company bank account and obtain a commencement of business certificate from MCA.
4. Share Certificates should be allotted within 2 months from the Date of incorporation
5. Mandatory annual compliances are filling of form MGT-7 & AOC-4 within 60 days from the date of AGM and within 30 days from date of AGM respectively.
6. Income tax return filling is mandatory for companies using form ITR-6. Refer form >>>
7. A minimum of 4 board meetings must be held by company in a year with a gap of not more than 120 days between 2 board meetings.
8. MCA Form Dir-3KYC is mandatory to filled every year on or before 30^th September from closure of relevant year.
9. Compulsory registers must be kept at registered address of the company at all times. They are registers of members, register of directors, register of related party transactions, register of director shareholder and register of transfer.
10. Form MGT-8 is mandatory form if turnover of the company exceeds INR 50 crores or share capital is greater than INR 10 crores. This form has to be certified by Company Secretary.

Company Registration through TaxLedgerAdvisor

Our experts at TaxLedgerAdvisor can obtain Company Registration. The process usually takes 5 to 7 working days. The process is in online mode and no manual process involved.