As a legal entity, your company can also enjoy perpetual succession in addition to owning property. For your company to be registered as a separate legal entity, you must incorporate it with the Registrar of Companies (ROC). We will walk you through a simple six-step process for registering your company from the comfort of your home in this article.
Company Registration In India: Guide
A company registration in India provides a number of benefits, such as generating capital, transferring shares, and obtaining tax benefits.
Did you know that you can register your company right at home? Many people imagine that registering an entity on their own is a difficult task. In reality, it is quite simple.
Step 1: Obtain your DSC
Obtaining a Digital Signature Certificate (DSC) is the first step in registering online. Authentic and secure electronic submission of your documents is made through DSC. Depending on your employer, you may need a class 2, or a class 3 DSC. Digital Signature Certificates can be issued by any licensed certifying authority.
Step 2: Get Your DIN
Companies Act Section 153 gives directors a unique 8-digit number called a Director Identification Number (DIN). A DIN must be acquired by all directors of a company pursuant to the Companies Amendment Act 2006. You can apply for a DIN online, and if your application is approved by the Central Government, you will receive your DIN within one month.
Step 3: Register for the MCA Portal
An account for the company’s director must be created on the MCA portal. As soon as the director registers on the portal, he or she can access the SPICe+ form to register the company.
Step 4: Apply For Name Availability
A unique name is essential for your company. It should always reflect what your company offers. Following MCA guidelines is essential when creating a company name. Otherwise, your application might be rejected. With Vaklisearch’s company search facility, you can check if a name you have already chosen is available.
Step 5: Submit Charter Documents
The Memorandum of Association (MoA) and Articles of Association (AoA) are preliminary documents for the registration of a company.
The Memorandum of Association is the organization’s constitution. This document describes how the company is organized and what it does. Furthermore, it explains how it is related to the outside world.
The Agreement of Agreements is like the user manual for a company. All rules and regulations regarding internal affairs are included, including handling financial records and appointing directors.
Step 6: Obtain PAN and TAN
All important transactions require a 10-digit alphanumeric number called the Permanent Account Number (PAN). PAN applications can be submitted online via NSDL’s website or authorized agents.
Tax collectors or deductors are given TANs, 10-digit alphanumeric numbers. Tax withheld from salaries is reported using TAN cards. Those failing to obtain TAN cards will have to pay a fine of $1000/-. Visit the NSDL website for more information.
How Do We Proceed?
Following approval, the company can obtain a Certificate of Incorporation and PAN. With the Certificate of Incorporation, you will be able to open your company’s bank account and begin operations.
If you still find the process confusing, let Vakilsearch assist you in registering your company without hassle.