New Delhi: In India, the registration of a private limited company can be done onl ine by following the rules set by the Companies Act, 2013. By incorporating a legal entity you gain protection for your personal assets and can easily secure loans from leading banks and NBFCs at favourable terms.
So, have a business idea but don’t know how to register a company? In this article, let’s learn the incorporation process in easy steps.
What is SPICe+ INC 32 form
To register a company online, you need to fill out and upload the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) INC-32 form on the Ministry of Corporate Affairs (MCA) portal. The MCA introduced the SPICe+ form on 23rd February 2020. This form combines multiple services into one online form and makes registration faster.
Be aware that SPICe INC-32 is a linked form and along with it, you are also required to upload SPICe INC-33 and SPICe INC-34 for filing e-MOA and e-AOA respectively.
A step-by-step guide to registering a company online
To get your company registered legally as per the rules set by the Companies Act, 2013, follow these steps:
Step I: Get a Digital Signature Certificate (DSC)
DSC of the Class 3 category is a must for completing the company registration process online. It is used to verify the identity of individuals electronically. When forming a company, the Memorandum of Association (MOA) and Articles of Association (AOA) must be digitally signed by all the subscribers and witnesses.
To get a DSC, you have to approach government-authorised certifying authorities. You can also apply it online, which usually takes about two days. The cost of DSC depends on the service provider.
Step II: Obtain a DIN (Director Identification Number)
A DIN is a unique number assigned to anyone who wants to become a director in a company. One DIN is valid for being a director in multiple companies. There are two methods to apply for a DIN:
| Method I: Apply for a DIN using Form DIR-3 | Method II: Apply for a DIN using SPICe+ INC-32 |
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Step III: Get your company name approved
When registering a company, you must get the name approved first. Here again, you have two options:
Option 1: Reserve the name through Part A of SPICe+ Form
- You can use Part A of the SPICe+ INC-32 form to reserve a name for your company.
- You can propose two names and will have one chance to re-submit (if the first choice is rejected).
- Usually, it gets rejected due to name similarity with an:
- Existing company
- LLP
- Trademark
- It can also get rejected if you are not following the Companies (Incorporation Rules) 2014.
- Once approved, the name is reserved for 20 days.
- Within this time, you must proceed with incorporation by filing Part B of the SPICe+ form.
Please note that no DSC or DIN is required for Part A. You only need an MCA account to file for name reservation under Part A.
Option 2: Apply for name approval and incorporation together (Part A + Part B)
Alternatively, you can also apply for name approval and incorporation simultaneously by filling out both Part-A and Part-B of the SPICe+ INC-32 form. However, in this option, you can only propose one name.
If the name is rejected, you will get one chance to re-submit the same SPICe+ form without paying the fee again. You can make this resubmission from your MCA dashboard using:
- The “name applied for”
or
- “Application number” link
If rejected again, you will need to start the process from scratch.
Step IV: Fill out the Part B of the SPICe+ INC-32 form
After the company name is approved (via Part A), you can proceed with incorporation using Part B. The approved name appears on your MCA dashboard, and you can continue the process directly from there.
Using the SPICe+ form, you can apply for multiple services, such as:
- DIN
- Name Reservation
- Incorporation
- Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) (mandatory)
- EPFO and ESIC registration (mandatory)
- Open a bank account in the name of your company (mandatory)
- GST registration
Fill out the form online and then download the SPICe+ form as a PDF. Sign it digitally using a DSC and submit it on the MCA portal.
Step V: Fill out e-MoA (INC-33) and e-AoA (INC-34)
The e-MoA (Electronic Memorandum of Association) and e-AoA (Electronic Articles of Association) are digital versions of important documents required for incorporating a company in India. These forms are now filed online as part of the SPICe+ (INC-32) process.
All subscribers to the MoA and AoA must digitally sign these forms using their DSCs. Moreover, since these forms are linked with SPICe+, the information entered in SPICe+ is automatically filled into e-MoA and e-AoA. This reduces manual effort.
Step VI: Get your certificate of incorporation
After completing the SPICe+ form process and getting approval, the MCA issues the Certificate of Incorporation and the Corporate Identity Number (CIN). It acts as an official proof of the company’s registration.
Additionally, you are also issued the company’s PAN and TAN. A separate physical PAN card will also be sent by the Income Tax Department.
Finally, your company is set and you are free to do business like becoming a seller on online marketplaces or manufacturing your own goods.
Conclusion
Using the SPICe+ INC-32 form, you can easily register a private limited company online. The process involves:
- Obtaining a DSC
- Applying for DIN
- Getting your company name approved
- Completing the SPICe+ form for incorporation
Once approved, the MCA issues a Certificate of Incorporation along with the company’s PAN and TAN. This makes your business official and legal.
