MCA (Ease of Doing Business) : Steps undertaken to ensure the quick registration of companies in India (Press release 30 March 2022)

The Government of India has undertaken a number of steps to ensure the quick registration of companies in India, which are as under:

1. A single integrated new web form called SPICe+ along with AGILE PRO-S has been deployed. This form provides eleven services related to ‘starting a           business’         namely (i) Name Reservation, (ii) Incorporation, (iii) Permanent            Account Number        (PAN), (iv) Tax Deduction Account Number (TAN), (v) Director    Identification Number (DIN), (vi) Employees’ Provident Fund Organisation             (EPFO)            Registration, (vii) Employees’ State Insurance Corporation (ESIC) Registration, (viii)             Goods and Services Tax (GST) number, (ix) Bank Account             Number, (x)    Profession Tax Registration (Mumbai, Kolkata and Karnataka), (xi)             Delhi   Shops and Establishment Registration.

2. Zero fee is now charged for incorporation of all companies with authorized           capital up to Rs. 15 lakh or with up to 20 members where no share capital is      applicable.

3. A Central Registration Centre (CRC) has been set up for name reservation and      incorporation of companies & Limited Liability Partnership (LLP) within 1 day.

4. The LLP Incorporation Form called FiLLiP has also been integrated with Central Board of Direct Taxes (CBDT) to provide PAN/TAN at the time of Incorporation   of         LLP itself.

5.  The Companies (Incorporation) Third Amendment Rules, 2020, now provide for   extension of reservation of name through a simple web service available at         http://www.mca.gov.in.

6. Provisions with regard to incorporation and functioning of One-Person      Companies      (OPCs) have been revised so as to incentivize incorporation of OPCs. Now,        Non-Resident Indians (NRIs) are also allowed to incorporate OPCs. OPCs are        now allowed to convert into private or public companies at any point of time. The       restrictions with regard to maximum amount of paid-up       capital and turnover for             OPCs have also been removed.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha today.