A Step by Step Guide to Register a company In Delhi
India is in the number 3 position at the Startup Index of Nations and Regions. These startups are the oxygen of the Indian economy, which is growing at a fast speed. Are you going to be part of the “oxygen” of the Indian economy? Is your dream of opening a company going to be true? If yes, then first you need to register a company under the Ministry of Corporate affairs.
Company registration is a crucial process. So here is the step-by-step guide for online company registration in India.
Step 1: Apply for the Digital Identification Number
The first step towards registering your company is to obtain a Digital Identification Number. It is a unique 8-digit number assigned by the Ministry of Corporate Affairs to the company’s director in India. Through DIN, the details of the director are maintained in a database.
Digital Identification Number is person-specific, i.e. even if a person is director of two companies in India, he will have a single Digital Identification Number.
The requirements of Digital Identification Number include:
- Father’s name
- ID Proof
- PAN card copy
- Address proof
- Two photographs of all the proposed directors
The application form is available on the website of the Ministry of Corporate Affairs for online company registration in india. The business owners need to fill the form and pay the applicable fees of INR 100. The application form takes one day for execution.
Step 2: Apply for Digital Signature Certificate
For the company registration in Delhi NCR, a Digital Signature Certificate is essential to prove the authenticity of online documents. It is used to access information or sign documents digitally in an insured way.
The requirements for the document in Digital Signature Certificate is the same as Digital Identification Number.
The Controller of Certification Agency issues the Digital Signature Certificate. The Digital Signature Certificate is unique for every business and should not be shared with other businesses. The Digital Signature Certificate is valid for one or two years. After that, the company needs to renew it again.
The fees to acquire Digital Signature Certificate is INR 800 – INR 5999, depending upon the type of organization. The application form takes 2-3 days to execute.
Step 3: Filing for a New User registration
It is necessary to get yourself registered on the Ministry of Corporate Affairs portal for the company registration in Delhi NCR. The portal does not charge any amount for registering on it.
Fill in the relevant details and register yourself on the portal.
Step 4: Filing for Charter Documents
To register a company, the applicants need to create two charter documents. These are Memorandum of Association and Articles of Association.
- Memorandum of Association defines the relationship of a company with the shareholders and the objectives for which it has been established. No amendments can be made in the Memorandum of Association after filling it once.
- Articles of Association defines the company’s purpose. It lays out the rules and regulations that need to be accomplished within an organization. It also includes the process of appointing directors and the handling of financial records.
Step 5: Application for company’s name
The applicant must choose a unique proposed name for the company registered by the Registrar of Companies. The name of the company should define the goals and purpose of the company.
The Ministry of Corporate Affairs has recently initiated Reserve Unique Name. It only can be used once. While online company registration in India, the applicant has to remain careful while choosing the company’s proposed name. If the applicant fails to provide a unique proposed name to the company or fails to comply with the rules of the Company Incorporation Rules, then Reserve Unique Name gets rejected. However, in case of rejection, the applicant can apply for a new Reserve Unique Name by paying the required fees.
Step 6: Registration of other details
After the successful application for the proposed company name, the applicant has to register the name and address of the company. The company has to also issue the notice for the appointment of directors and secretary.
It is mandatory to provide four alternate names of the company too in the application. This application form takes 8-10 days to get scrutinized by the officials. After its thorough scrutinization, the company name gets approved.
Step 7: Acquiring of PAN and TAN
It is the last step to register a company. In this step, the applicant needs to acquire PAN (Permanent Account Number) from an authorized member of the Union Trust of India. PAN is utilized by the Income Tax Department to track all the financial transaction of the company. PAN is mandatory even when your company does not come under tax charging. The process takes a week with a minimal amount of INR 70.
The last step also includes the acquiring of TAN (Tax Account Number). It is issued by the assessing officer of the Income Tax Department of the state. It is a 10-digit alphanumeric digit, required by every person responsible for deducting tax at source (DTS) or collecting tax at source (CTS). It also takes a week to get issued with a charge of INR 60.
Company registration gives your company a new direction. It provides a legal assistance to the company. It also provides the benefits like free transferability of shares and limited liability.
So follow the above steps, register your dream company and become your boss at your own company.
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