The growing Indian economy is luring the foreign investors as well as Indian investors to start the business in this rapid growing nation. To cope up with the increasing rate of incorporations and to ease the business, MCA had constantly come up with some relaxing provisions and also to cut down the average time taken for incorporations. One of such measure is SPICe+.

As name itself mentions, SPICe+ is a simplified and integrated form for all the legal registrations required for starting up a business along with incorporation such as PAN, TAN, GST, ESIC, EPFO, PT and opening of bank account.

THE PROCEDURE THROUGH SPICE+ IS SIMPLER COMPARING TO PREVIOUS VERSIONS, WHICH IS AS FOLLOWS:

1. Acquire DSC of all subscribers;

Note: DSC requirement will be varied if subscribers are non-residents.

2. Apply for reservation of name;

3. Apply for incorporation of the Company;

Note:

a. Reservation of name can be applied even at the time of incorporation.

b. DIN can be applied through incorporation form upto 3 directors

4. Apply for incorporation of the Company;

5. Receipt of Incorporation certificate from RoC;

6. Receipt of e-PAN and TAN;

7. Receipt of other statutory certificates;

8. Co-ordinating with bank branch for opening of bank account.

DOCUMENTS REQUIRED FOR INCORPORATION:

From Subscribers:

1. PAN and AADHAR

2. Certificate of Incorporation and proof of address, in case subscriber is body corporate.

From Directors:

1. PAN and AADHAR;

2. Proof of Identity such as Passport/Voter Identity card/driving license;

3. Proof of Address such as Bank Statement/Electricity bill/Telephone bill/Mobile bill (Director name shall be on such proof)

Note: If subscribers and Directors are non-residents, documents shall be apostillised and notarized.

From Company:

1. Utility bill not older than two months;

2. No-objection certificate from owner;

3. Proof of appointing authorized signatory for GST

From Authorised signatory to PT/GST/ESIC/EPF and opening of bank account:

1. PAN and AADHAR;

2. Soft copy of passport size photo;

POST-INCORPORATION COMPLIANCES:

1. Conduct first Board Meeting within 30 days from the date of incorporation;

2. File form ADT-1 for appointment of first Auditor within 30 days from the date of incorporation;

3. File Form INC-22 for verification of registered office within 30 days from the date of incorporation, in case registered office is not provided at the time of incorporation;

4. File Form INC-20A for commencement of business;

Author Bio

Name: CS Janaki
Qualification: CS
Company: Janaki P & Associates
Location: Bangalore, Karnataka, IN
Member Since: 27 Aug 2020 | Total Posts: 3
Experienced in the industry of Company Law, FEMA Laws, the formation of various forms of business organizations, and registrations thereof. Skilled in Legal Assistance, Corporate Finance, GST, and Intellectual Property Rights. For any queries, you can reach me at contact@csjanaki.com. Website: htt View Full Profile

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8 Comments

  1. Srikar says:

    In documents required from subscribers, it is mentioned as PAN & Aadhar! But as per Rules and drop down options in Spice+ Form, ID proof should be Passport/DL and address proofs should be Bank Statement/Electricity Bill/Telephone Bill. Please correct me these are also required??

    1. CSJANAKI says:

      Yeah it is for subscribers. The drop down opens only if we are applying DIN for directors. I have given documents applicable for directors as well. We require PAN and AADHAR from both subscribers and directors as a part of kyc requirement.

  2. PRAVEEN says:

    Is it mandatory to file form ADT-1 with in 30 days of appointment of Auditor at the time of incorporation of form. can we file form ADT-1 at the time of Agm for Appointment of Auditor for 5 years term ?

    1. CSJANAKI says:

      It is not mandatory to file Form ADT-1 for the first Auditor appointment as per the provisions of Companies Act, 2013. However, Form ADT-1 is structured in such a manner even for reporting the appointment of the first auditor. In this regard, it is recommended to file Form ADT-1 for the appointment of the first Auditor to ensure compliance and transparency.

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