company registration online in india Archives - Page 5 of 5 - Business , Financial & Legal Consultant In India

March 3, 2019March 3, 2019

What is the commencement of certificate of business?

There used to be a certificate for the commencement of the business. It was put into the full force until the Companies (Amendment) Ordinance, 2018. Under this ordinance until and unless a company has not filed a declaration within 180 days from the Company Registration that company cannot commence their business. This declaration states all the shareholders of the company and have paid the values of shares as what stated in the MOA of the company. So here in this blog we will discuss the format of this declaration, and documents required for this declaration and fees and penalties for complying with the orders.

Format

I am authorised by the Board of directors of the company through resolution Number______ dated_____ to sign this form and thereby declare that all the requirements of the Companies Act, 2013 and the Company Ordinance Amendment, (2018) and the rules made thereunder in respect of the subject matter of this form and matters incidental thereto have been complied with. I further declare that:

Whatever is stated in this form and in the attchments thereto is true, correct and complete and no information material to the subject matter of this form has been supressed or concealed and is as per the original records maintained by the company.
All the requierment attachment have been completely and legibly attached to this form.
Every subscriber to the MOA has paid the values of share agreed to be taken by him.
The company has filed with the Registrar a verification of its registered office as provided in sub section (2) of section 12.

Documents that have to be attached-

COI of the Company
PAN of the company
List of directors and shareholders of the company
Bnak statements of the Directors and shareholders of the company
ID proofs of the same
Receipt proof (if any)

Fee structure of the share certificate

Share capital involved

Fee to be paid

Less than 1 lakh	Rupees 200
1,00,000- 4,99,999	Rupees 300
5,00,000- 24,99,999	Rupees 400
25,00,000- 99,99,999	Rupees 500
1,00,00,000 or more	Rupees 600

What if you don’t comply with the Declaration

Penalty on the company- if the company do not file the declaration then there is a penalty of Rs. 15000/- on the company.

Penalty on directors- the defaulted Directors have to pay the penalty of INR 1000/- per day after the 180 days limit has been passed.

Company removal- if the registrar has the reasonable cause after the 180 days of incorporation then he can also strike off the company from the companies register.

Not filing a declaration according to the new amendment in the year 2018 is a hassle. Therefore to get relief from the hassle you can get in touch with BIATConsultant for further assistance and we can ensure that your company is registered hassle free and also ensures for its commencement declaration.

January 13, 2019

Company Registration is now free of cost

Start ups are the best option for the youngsters to show their talent in the business. India is an exemplary place to start a business with a mob of most business efficient people. India is a country that has become great for investment.

Small business or people with excellent business ideas have many opportunities to incorporate a business with no cost. In this blog we will get to know the process of its incorporation and the step taken by government of India for small enterprise or business to legalise and expand their business.

Free of cost company incorporation

Company registration in India has now become effortless. Here are certain steps which are taken by the Government to make incorporation of companies easy and flexible and they are as follows-

Company can now be registered at zero cost up to an authorized cost of INR 20 Lakhs.
Company name filing will have a procedure.
Digital signature will not be required for company name approval.
Reserve Unique Name (RUN) is a new service that has been launched by the Government.
Director Name Approval (DIN) is not required for company name approval.
Director Identification number (DIN) is required in case of Spice form filing.

Now register all type of companies free of cost

Free incorporation of companies brings transformation that makes things simpler and easy for business in India. All forms of companies i.e. Private Limited company, public Limited Company, One person company etc is free of cost

There are some cost which is required to be paid by people those will register company now. Here are certain points under which some entities will be chargeable with a basic amount and they are follows-

Director Identification Number (DIN) fees of Rs. 500 per Director.
Digital Signature Certificate (DSC) fees of Rs. 600/- per promoter.
State stamp duty which comes around from Rs. 200/- to Rs. 10,000/-.
Professional fees comes around from ( Rs. 5000/- to 14,000/-).
Stamp paper and miscellaneous cost comes around to Rs. 500/- to Rs. 2000/- (depends on the number of members).

Easy steps to claim free of cost company registration

It is very easy to register a company in india if the name chosen by a company is unique and now it is free of cost as well. But you need to follow a basic rule and should hire a professional to guide you in best possible way. Since there is no Direct procedure, therefore it is required for a company or any individual who wants to register its company name should hire a professional as their signatures are required. This process is also less time consuming.

Therefore free of cost company registration is just like a revolutionary step which is taken by Government of India. Business registration is one of the major benefits of country’s wealth. India secures the position in the top 10 economic nation in the world. Things will be built in a better way.

November 28, 2018

What is the role of Company registrar of Companies in the Incorporation process

The Company Registration process in India includes Companies Secretaries, Chartered accountants and some other individuals. In this blog we will discuss the role of Registrar of Companies in incorporation process.

Role of Company Registrar

Registrar of Companies has very important role to play in Incorporation of Companies. All documents are sent to the Registrar of Companies only. He decides everything like whether Company’s name can be incorporated or not. There are three Categories which are divided in to 3 parts and they are as follows:-

Document Accumulation– Once Registrar receives all the documents and application, then he will cataloguing it responsibly for future assessment.

Document Assessment- Once the Registrar receives all the documents then he will check whether all the documents are in order or not. And for Document assessment he will check whether all documents are present or not. And whether the documents are as per the rule of Ministry of Corporate Affair. And he will check that whether the application is filed right or not.

The certification- Once the Registrar checks every document that whether all the documents are present or not and all the documents are on record or not. And after checking all documents he will decide whether to certify the company or not. After certification of the company, documents are given to the Applicant. Only Chartered Accountant and Companies secretaries and some other people are authorised to apply for Incorporation of the Company. Because they are the experts and will advice you on correct things.

In BIATConsultant there are team of experts which can guide you in Company incorporation process.

November 26, 2018

What Is Said To Be Dormant Status Of The Company

Dormant status of the Company

The concept of Dormant Company came into existence in India with Companies Act, 2013. And it basically is formed as a sleeping or inactive company which is made for the future perspective. There is not any specific clause in the companies Act but it is mentioned in section 455 of Companies Act, 2013. And under this section the types of companies which are formed for future references is being discussed.

Inactive company does not carry any business operations or has not made any significant accounting transaction during the last two financial year. Companies must have not filed any financial statements or Annual returns during the last two financial years. Companies who have fails regarding mandatory annual requirements, those companies are also referred as a Dormant Company.

Here are some Rules regarding Dormant Company

MSC-1- Application for seeking- Application for obtaining a status of a Dormant Company can only be obtained through a special resolution Approval and through issuing a notice to all the Shareholders. There should not be any kind of dues i.e. tax dues or any outstanding loans, then only the status of a Dormant Company can be obtained.

MSC 2- Certificate of Registrar- Registrar will issue the Certificate.

MSC 3- Return of Dormant Company- By filing return the financial position of the Company can be seen. And the returns of the Company should be filed by the Chartered Accountants who are in Practice.

MSC 4- Application for Active Status- If a Company wants to get its Active Status then it can simply move an application for the revert of the status along with the requisite fees.

MSC 5- Certificate of Application status- In this certificate of Application status is being issued.

There are some rules which specifies that a Company cannot remain inactive for more than 5 consecutive years i.e. there are some rules given in which it is clearly written that a Company cannot remain inactive for more than 5 Consecutive years.

And is registrar has doubt that being a Dormant Company some transactions have been issued then the registar can take necessary steps or action to revert the status of an inactive company to a Active Company.

Want to register a company in India ? Hire #1 business consultant in India – BIATConsultant .

September 19, 2018September 19, 2018

Step By Step Procedure to incorporate a company in India

If you are thinking to start a new Company but is confused regarding its procedure then in this blog we will be discussing the procedure for its incorporation. Read our detailed guidelines for company registration procedure in India

Steps for Incorporating the Company-

As we have already told you that there are several things which you are required to follow. So here is the list of things or step by step procedure to be followed while incorporating:

Step 1: Choose the name of the business- This step is perhaps the most important step which is need to be done. Firstly name of the company is t be chosen on which your business will rely, so ame of the company should be unique which gives lasting impression to your consumers. Before applying for the name, the Registrar should check its availability that whether that name is available or not otherwise it can get rejected by the Government after applying for ts name.

This step entails the location of your company- Every sort of Company needs to have its physical location associated with it. It is necessary to identify the location on which you need to do your business. And make sure to check the company incorporation cost, the taxation law and other corporate laws in the place you seek to start your company at.

Select the type of incorporation- It is necessary to decide the kind of company which you need to register. There is Private Limited Company, Limited Liability Partnership, Nidhi Company, Section 8 Company and others. So chose the type of business you do and then decide upon the type of entity that you want.

Name of the Directors of the Company- This step is one of the important step. When you are naming the Directors then make sure that they can manage the affairs of the Company. These Directors are going to be responsible or running the business of the Company.

Decide the tps of shares you need- The type of share depends on how you chose to incorporate your company. But make sure that the share you chose should be right one. You will also need to decide that to who you are assigning the share.

Getting Access to the Certificate of Incorporation- In order to fully incorporate your Company you need to take the certificate of incorporation. Once you get certificate, it will entail Company’s Name, purpose, location and information of the company like about its Director and its Shareholders.

The Last Step- The last step involves filing the Articles of Association and and submitting it to Registrar of Company wit the required fees. Thi can be done either offline or online. For Offline process you need to consult either Chartered Accountant or Companies Secretaries. For offline process, you need to take help of Attorney as well.