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Online Company Registration Procedure in India


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Online Company Registration Procedure in India

Did you know that the private limited company is the most popularly adopted and most preferred company structure in India? 
If you’ve been having difficulty understanding the legal nuances that surround the online company registration procedure, you’ve come to the right place. In this article, we'll be listing down the online company registration procedure and shedding light on services which will help you efficiently navigate the process of setting up your very own business establishment. 

STEP 1 - Application for Director Identification Number (DIN)

The foremost step of the company registration online process in India begins once the unique identification number is obtained. As per the Companies Amendment Act 2006, every single director of a company needs to obtain their Director Identification Number (DIN), which is a unique 8-digit number which is issued under the Companies Act U/s. 153. 

To obtain the DIN you will need to handover the following details and documentation of all the intended directors.
●     Full name
●     Father’s name
●     DOB
●     Identity proof
●     Address proof
●     PAN card copy
●     Two photographs 
The DIN-1 form will then need to be duly filled and uploaded after paying the applicable fees. The DIN application form is provided at a fee of Rs. 100 and takes about 24 hours for execution.

STEP 2 - Application For Digital Signature Certificate (DSC)
In the next step, you will require a valid digital signature so that the authenticity of all the documents submitted in the online filing process can be guaranteed. It is compulsory to acquire a Digital Signature Certificate (DSC) as it is the only way of ensuring that the documents are safely submitted electronically. 
The requirements for the application of digital signature comprises the proposed directors’ full name as well as their father’s name, DOB, address proof, PAN card copy, identity proof, and latest photograph.

Ordinarily, this digital certification is valid for a duration of one to two years, and following expiry, it should be renewed once again. The application expenses for obtaining a DSC is around Rs. 800 – 5999 depending on the nature of the company structure, work desired to bid on, and the desired validity period. It takes a total of 2-3 business days to complete the entire process.

STEP 3 - Application For Name Verification

The company should be given a unique name that sufficiently describes the services offered by the business or its line of business. This step is crucial as it creates a branded entity unique from others carrying out business in the same field.

The RUN (Reserve Unique Name) web service is used for incorporating a company name online. But keep in mind, that this service can be used only once and if the proposed name is rejected, RUN cannot be reused. Hence, ensure that the submitted name is unparalleled and meets all the guidelines prescribed by the Ministry of Corporate Affairs.

STEP 4 - Filing Of The eMoa And eAoA

In the next step of the online company registration procedure, the applicants are required to create important charter documents like Memorandum of Association (MOA) and Articles of Association (AOA). The MOA once formulated and registered cannot be amended. Hence it is best if you engage professional services from experts on the field like Vakilsearch to assist in the process. 

STEP 5 - Application For Obtaining PAN And TAN Of The Company

The next step in the online company registration procedure in India is obtaining PAN (Permanent Account Number) for your company. PAN can be obtained either from (UTI) Investors Services Ltd or the National Securities Depository Ltd. (NSDL). The process takes about a week to bear fruit and costs less than Rs. 100. Next, the TAN (Tax Account Number) for your company needs to be acquired from any Assessing Officer of the Income Tax Department. This process takes about a week and costs less than Rs.100.

STEP 6 - Proceed certificate of incorporation by RoC with PAN and TAN

Once all the documentation and filing is concluded and the relevant forms are filed with the concerned department, the RoC issues the incorporation certificate. The certification of incorporation communicates vital details about the company such as its CIN number, the name of the company, date of incorporation, and so on. 

STEP 7 - Opening Of A Current Bank Account In The Company Name

The final and most simple step of the entire procedure. Upon receipt of the incorporation certificate, you must submit a copy of the Incorporation certificate along with the MOA, AOA, and PAN with the account opening form to a bank of your choice and create a current bank account through which the official financial transaction of the company will take place. 

The entire process of the online company registration procedure can be concluded in about 10-15 working days depending on the speed of government approval. However, you don’t need to worry about any of it, just hand over the required documents to the specialists at Vakilsearch and they’ll do the rest. Registering a company has never been this easy nor this hassle-free.

Visit to the following website to know more about private limited company registration
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 

 

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