How to Register a Private Limited Company?

 

Introduction to SPICe plus Form

The Government of India through its Ministry of Corporate Affairs, introduced the integrated web form that is SPICe Form ( stands for Simplified Proforma for Incorporating Company Electronically)  to form/incorporate a company in India with an aim promote ease of doing business.  It has very much simplified the Companies Incorporation process in terms of cost, time and procedure.


The MCA further improved and simplified the process of Company incorporation by introducing an advanced version of SPICe form that is SPICe plus Forms in the year 2020. It is considered as one of the major initiatives of government towards the ease of doing business.

As discussed, it is an integrated web form available on the MCA portal. It offers following 10 business related services in one form only.

1.     Company Name Reservation

2.     Director Identification Numbers for directors

3.     Company Incorporation

4.     Pan: Permanent Account Number

5.     TAN: Tax Deduction/Collection Account Number

6.     GSTIN: Goods & Services Tax Identification Number

7.     ESIC Registration

8.     EPF Registration

9.    PTRC: Profession Tax Registration Certificate (Maharashtra/ Karnataka)

10. Opening of Bank Account in company’s name

 

Steps-wise Online Process of Private Limited Company Incorporation

STEP1: Obtain DSC of all proposed directors

The first step of incorporation of Private Limited Company is to acquire a Digital Signature Certificate for all the proposed directors and subscribers of the company.

Since the SPICe+ Form is a web forms thus they are required to be electronically signed through DSCs. As the name suggests, Digital Signature Certificate is a secured and authentic way to sign the SPICe forms electronically.

STEP2 : Login to MCA Portal

Thereafter, all the steps are undertaken on the MCA portal only.

·         Firstly, open the MCA portal through Link https://www.mca.gov.in/.

·    Next, click on the login option listed on the MCA Portal. Then, if the user is already registered on the portal then he shall enter the login credentials and thus, login to portal. Whereas, if the user is the first time user then he shall sign-up on the MCA Portal by clicking on the Register option. Fill all the required details and remember your login credentials for next time, one can also note down the MCA portal login credentials for future.


 

 

·     Registration or login on the MCA is a mandatory step to avail the paid services offered by them. Incorporation of Company through SPCe + form is a paid service, thus, it requires registration or login to the portal as the case may be.

Thereafter, go to the MCA Services and select SPICe + option available under the Company Services. It will redirect the user to the application page whereby the user will see two options that are- New Application and Existing Applications. Click on the New Application to form a new private limited company.



 STEP3: Fill SPICe + PART A Form for Name Reservation

The SPICe+ Form is divided into two parts that are PART A and PART B. Part A is specifically a Name Reservation Form while Part B is an Incorporation form and has 4 linked forms. Both the parts can be filled and submitted at the same time and the entire Form filling process of company incorporation can be completed at once. 




On the contrary, the user can submit both the forms one after another. It means that the user will firstly fill and submit the PartA form along with the requisite fee attached to it. Then the name reservation shall be under consideration before the MCA Authorities. When the Part A fulfills all the criteria of company name then the MCA will grant or reserve the name for 20 days in which the next Part B form is required to be submitted for obtaining Incorporation Certificate.



 As many of us do not know how to fill SPICe + Part Form so here is the guide, follow the following steps -

1. Type of Company– Firstly, select the type of company from the drop-down option. Following options will be shown –

·        Section 8 Company

·        Producer Company

·        Nidhi Company

·        New Company

·        Conversion of Firm to Company

·        Conversion of LLP to Company

In case of New Private limited company, the user is required to select New Company option.

2. Class of Company– It is also a drop-down option whereby three options will be shown that are Public Company or Private Company or One-Person Company. Select the option accordingly.

3. Category of Company– select the category of company whether it is a company limited by shares or company limited by guarantee or an unlimited company.

4. Sub-Category of Company– Select the sub-category of company whether it is a

·        Union Government Company or

·         State Government Company or

·        Non-Government Company or

·        Subsidiary of Company incorporated outside India or

·        Guarantee and association company

      5. Main Division of Industrial Activity of the Company- It depends upon the main object of the Company. For example if a company will undertake agriculture business then it will be 01. List of main division can easily be searched on Google.

     6. Summary of Object- Thereafter, the user is required to write the summary of the objects to be pursued by the company after incorporation. It is written in a box and limited content can be given here. One can attach a pdf of complete main object through the attachment symbol given below.

    7. Company Names – Lastly the person is required to give name of the proposed company. 2 names can be proposed at once in a preferential order.

    Next, click on auto-correct option once the mandatory details are filled. It basically does the preliminary research that whether there is any prima-facie mistakes in the form or/and that the proposed name is available or not.

If yes, then click on the save button to save the form for future or submit the form and pay the required fee of Rs. 1,000/-. User can also make the payment later. Form will be submitted on the successful fee payment.

A popup of confirmation alert will appear asking to either submit the form only for name reservation or to proceed for incorporation. User can opt accordingly. 




STEP4: Fill SPICe + PART B for Company Incorporation 

Let’s suppose user has opted to proceed for incorporation then the user has to fill the Spice+ Part B form.

1.     The first and foremost detail requires to be filled is to select whether the Articles of Association (AOA) is entrenched or not.

2.     Subsequently, choose whether the company is having share capital or not as per the nature and type of the company. If the company is having share capital then enter the details of capital structure of the company, that are total authorized share capital and subscribed capital.

Check all the details filled on the first page then click on save and continue button.



  

3.     Enter the correspondence address, Phone Number with STD code and Email Id of the company. You can also provide Fax detail as it is optional.

·        Next, when the correspondence address of the company is also the registered address of the company then click on yes against it.

·        Then, user has to choose the name of the office of Registrar of Companies from the drop-down option, although it will automatically be shown as per the company address. 


Again, the user has to check the details and then click on save and continue button to proceed on the next page of the form.

4.     Enter how many directors and/or Subscribers having or not having valid Directors Identification Number (DIN). Again, save and continue to next page.


5.     Thereafter, provide the details of the Subscribers and directors mentioned in the following picture. 


6.     In the next page, details of stamp duty are required to be filled. You just have to click on the pre-fill button then it will fill the details by own.

However, you should write 0 in the total amount of stamp duty paid option as no stamp duty has been paid yet. Save and continue to next page. 




7.     Provide the PAN/TAN information in the next page that is area code, AO type, Range code and AO No. respectively. Then select the source of information and enter the Business/Profession code according to the business nature. Click on save and continue button to proceed further. 


8.     Now, attach the following mandatory documents accordingly. 

Copy of utility bills (not older than 2 months)

Utility Bill (Electricity/ Water/ Telephone Bill) +

Rent Agreement (Notarized) +

NOC from Landlord

Proof of identity & residential address of subscribers

Identity Proof – one can provide any of these documents as ID Proof that are Voter ID / Passport / Driving License

+

Address Proof – one can provide any of these documents as address Proof that are Bank Statement/ Electricity Bill/ Telephone Bill/ Water Bill

Proof of identity and address of Applicant I

Identity Proof – Voter ID / Passport / Driving License

+

Address Proof – Bank Statement/ Electricity Bill/ Telephone Bill/ Water Bill

Proof of identity and address of Applicant II

Identity Proof – Voter ID / Passport / Driving License

+

Address Proof – Bank Statement/ Electricity Bill/ Telephone Bill/ Water Bill

Optional attachment

[Passport Size Photograph + PAN card + Aadhaar Card ] of both Applicant 1 and Applicant 2

 

 

 


Subsequently, click on save and continue and select the verification box accordingly. Enter the details of CA/CS/ Cost Accountant/ Advocate in practice in the declaration box only.


 Thereafter, click on the prescrutiny. It will show the prima facie errors in any in the form. Save button will be enabled on the successful prescrutiny, then click on the save and then submit button.

STEP5: Fill other forms linked with SPICe + PART B

As the SPICe + part B is submitted, other linked forms that are AGILE Pro, MOA, AOA and INC 9 will be shown in the Application then these forms can also be filled.

·        AGILE Pro form is an online application form linked with SPICe + forms for obtaining GSTIN, ESIC registration, EPFO Registration, Profession tax registration and opening of bank account while applying for Company Incorporation.

However, it is optional to apply for GSTIN therein so when GSTIN is not applied therein then only three documents are required as attachments that are Identity proof, Address proof and signature on the blank page of the authorized signatory. These documents must be same as are attached in Part B form.

·        After this, Fill in the SPICe MOA and SPICe AOA Forms according to the nature and object of the company.

·        INC-9 is a consent form that the proposed directors are qualified to become directors of the company under the Companies Act, 2013.  It is a prefilled form, no details are required to be filled therein.

STEP6: Download and upload the digitally signed forms 

Once all the SPICe + forms are correctly filled and submitted, download all the forms by clicking on the download symbol. Thereafter, all the forms shall be digitally signed by the required directors, subscribers and professionals.


The key point to note here is that the size of each form in pdf shall not exceed 6 MB. On verifying this note, the last step is to upload the digitally signed forms on the portal. For uploading, login on the portal, click on the workspace then on upload e-form option given on the right corner. Click on the normal forms, as the SPICe form has 4 linked forms so select the linked forms and then click on upload linked forms for 4 times. Thereafter, browse the forms and submit in the following order –

1.     SPICe + Part B 2. SPICe MoA 3. SPICe AoA 4. AGILE Pro 5. INC-9.



Thus, a SRN that is Service Request No. will be generated as the forms are successfully uploaded on the portal. Then make the payment, a consolidated challan will be generated for form, MoA, AoA, PAN and Tan and a separate challan for stamp duty will also be generated. User can check the status of company incorporation through SRN in the MCA Services.

 

Usually, MCA takes 5-7 days to check the forms and to approve the forms, when the forms are approved user will receive Incorporation Certificate, PAN and TAN in the mail only.

 

Conclusion

The MCA has substantially and significantly changed and simplified the process of Private Limited Company Incorporation. Nevertheless, there are many technical points which need to be kept in mind while filling and uploading Incorporation forms.

If you are looking for a professionals’ help for incorporating a company then team of Manthan Experts is the right choice.

Click Here to Private Company Registration

               

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