What is company registration?

What is Company Registration?

The Companies Act, 2013: Company Registration is also called Incorporation of Company.

Company Registration Process: To start a new company in India, its registration is mandatory. Company registration provides official and legal identity (Benefits of Company Registration). The work of company registration is under the Ministry of Corporate Affairs.

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What are the steps for online company registration in India?

These 7 step are necessary for online company registration in India

1. Director Identification Number ( DIN) : Company registration work starts from DIN. This is an eight-digit number which is issued under Section 153 of the Company Act. Fill and upload the DIN-1 form available on the website of the Ministry and the application for DIN will be submitted as soon as the prescribed fee of Rs 100 is deposited. The DIN of the company will be issued within a day. DIN is mandatory for all directors of the company.
2. Digital Signature Certificate (DSC) : To secure the company registration process and company related work, a digital signature certificate is issued to all companies. DSC can be obtained from agencies authorized by the Controller of Certification Agencies like MTNL, IDBRT, N-Code Solutions, TCS etc.
3. Registration : To fill the e-form on the Ministry of Commerce, register by going to 'New User Registration'. There is no fee charged for this. 
4. Charter Documents : In the process of company registration, the company's charter documents like Memorandum of Association and Articles of Association will have to be uploaded.
5. Company's Name : To authorize the name of the company, a Reserve Unique Number is issued by the Ministry. However, if the process of common name or company registration is not followed, this number is rejected. Four alternative names for the company have to be entered in Form-1.
6. Company Address , Director Registration : During company registration, it is mandatory to fill Form-1 as well as Form-18 and Form-32. Through both these forms, information related to company address, appointment of directors, secretary, manager etc. is filled. Verification takes place for 10 days after form submission, after which the ministry informs for company registration.
7. PAN, TAN of the Company : At the end of the company registration process, PAN (Permanent Account Number) and TAN (Tax Account Number) of the company have to be obtained. PAN can be obtained through Union Trust of India Investors Services (UTI) or National Securities Depository (NSDL) authorized agency. Its fixed fee is Rs 70 and it takes seven days for the PAN to be issued. At the same time, TAN can be obtained from the state income tax department. A fee of Rs 60 has been fixed for this work. This work takes a week.

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