{"id":51773,"date":"2023-01-17T12:09:35","date_gmt":"2023-01-17T06:39:35","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=51773"},"modified":"2024-09-27T10:57:52","modified_gmt":"2024-09-27T05:27:52","slug":"form-inc-29-fast-track-company-registration","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/form-inc-29-fast-track-company-registration\/","title":{"rendered":"Form INC-29 Fast Track Company Registration"},"content":{"rendered":"\n<p>The benchmark for\nEase of Doing Business in a country is often determined by the efficacy of\ncommencing a business in that country. Owing to India\u2019s aim to rise high up in\nthe ranks of the \u201cEase of Doing Business Index\u201d maintained by the World Bank,\nthe Ministry of Corporate Affairs introduced Form INC-29 to fast-track the\nregistration of companies in India. Form INC-29 was introduced in May 2015 with\nthe aim of reducing the number of necessary steps required and the time taken to\nincorporate a company in India. The integrated Form INC-29 has eliminated the\nrequirement of filing multiple forms to incorporate a company and has reduced\nthe application approval time as well as the cost of the incorporation process.<\/p>\n\n\n\n<p>Form INC-29 is a web\nform that has integrated the process to perform many tasks associated with a\ncompany\u2019s incorporation. The Form is submitted with necessary documents, which\nshall include the memorandum of association and articles of association of the\ncompany, details of the subscribers and directors of the company, among other\nthings. A single Form INC -29 can be used to perform the below-mentioned tasks:<\/p>\n\n\n\n<ul>\n<li>Obtaining the director identification\nnumber or DIN for up to three directors.<\/li>\n\n\n\n<li>Approval of the proposed name of the\ncompany.<\/li>\n\n\n\n<li>Filling out the application for\nincorporation of the company.<\/li>\n\n\n\n<li>Application to obtain Permanent\nAccount Number or PAN for the company.<\/li>\n\n\n\n<li>Application to obtain Tax Deduction\nAccount Number or TAN for the company.<\/li>\n<\/ul>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/form-inc-29-fast-track-company-registration\/#Applicability_of_Form_INC-29\" >Applicability of\nForm INC-29<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/form-inc-29-fast-track-company-registration\/#Documents_Required_to_File_Form_INC-29\" >Documents Required to File Form INC-29<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/form-inc-29-fast-track-company-registration\/#The_Process_to_File_Form_INC-29\" >The Process to File Form INC-29<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/form-inc-29-fast-track-company-registration\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Applicability_of_Form_INC-29\"><\/span>Applicability of\nForm INC-29<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Form INC-29 is applicable for the registration of a <strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/company-registration\" title=\"Company registration Online\">private limited company<\/a><\/strong>, one-person company or OPC, producer company,\nor public limited company. However, a Section 8 Company, as per the Companies\nAct of 2013, cannot be registered using the integrated Form INC-29.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_to_File_Form_INC-29\"><\/span>Documents Required to File Form INC-29<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are certain essential documents which are required\nto be filed along with Form INC-29 after they have been duly signed and approved\nby the shareholders and directors of the company. The below-mentioned documents\nand information are required to be submitted along with Form INC-29:<\/p>\n\n\n\n<ul>\n<li>The\nmemorandum of association of a company<\/li>\n\n\n\n<li>The\narticles of association of the company<\/li>\n\n\n\n<li>Any\nauthentic document in support of the proposed company name which shall be\nsubmitted for approval.<\/li>\n\n\n\n<li>The\ninterest of the first directors in any other entities<\/li>\n\n\n\n<li>The\nresolution passed by the promoter company<\/li>\n\n\n\n<li>consent\nof the nominee<\/li>\n\n\n\n<li>Declarations\nfurnished by or on behalf of the shareholders or the directors and a practising\nprofessional like a CA or CS of the company that all requirements pertaining to\nincorporations have been complied with. Declarations are in built-in Form\nINC-29. There is no need to add any separate attachments to the Form.<\/li>\n\n\n\n<li>Affidavits\nfurnished by the subscribers of the memorandum of the company and the first\ndirectors that such person has not been convicted of any offence in relation to\nthe formation, promotion and management of the company, such person is not\nguilty of any breach of duty, or fraud practised upon any company in the last\nfive years, and every document submitted with the registrar contains accurate,\ntrue and complete information which is so to the best of such person\u2019s\nknowledge and belief.<\/li>\n\n\n\n<li>Proof\nof ownership, like a sale deed of the property of the company or a lease deed where\nthe property is rented.<\/li>\n\n\n\n<li>Copy\nof utility bills which must not be older than two months.<\/li>\n\n\n\n<li>Documents\nproviding details as to where the registered office of the company is or would\nbe situated and the address proof of such office. If there is no registered\noffice of the company, then an address for correspondence until such\nregistration is completed.<\/li>\n\n\n\n<li>Information\npertaining to the directors of the company and a proof of identity of the\ndirectors.<\/li>\n\n\n\n<li>Information\npertaining to the subscribers of the company and a proof of identity of the subscribers.<\/li>\n\n\n\n<li>Address\nproof of the directors and all the subscribers of the company.<\/li>\n\n\n\n<li>Copy\nof the PAN card all the directors and all the subscribers of the company.<\/li>\n\n\n\n<li>Any\nother essential document based on the type of the company.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Process_to_File_Form_INC-29\"><\/span>The Process to File Form INC-29<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The following procedure shall be followed by applicants\nseeking to incorporate their company by filling out Form INC- 29;<\/p>\n\n\n\n<ul>\n<li><strong>Step\n1: Obtain A Digital Signature Certificate.<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The very first step involved in filing any\nform on the <strong>MCA<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/home.html\"><strong>[1]<\/strong><\/a><\/sup> website is to obtain\na digital signature certificate or DSC for the directors or the authorized\nsignatories of the company. It is imperative to get the Class III DSC for the\nproposed directors of the company. DSCs shall be granted by a licensed\ncertifying authority.<\/p>\n\n\n\n<p>The digital signature certificate shall be\nobtained by submitting Class III Application for DSC along with address proof\nfor Indian residents and a self-attested copy of the PAN card. Foreign\nnationals and NRIs living in a non-Commonwealth country shall be required to\nget their documents notarized, while those residing in a Commonwealth country\nshall get them apostilled.<\/p>\n\n\n\n<p>It shall be sufficient for one of the\ndirectors or subscribers to obtain a DSC.<\/p>\n\n\n\n<ul>\n<li><strong>Step:2\nCheck The Availability Of The Proposed Name Of The Company<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The next step involves choosing the proposed\nname, which must be selected carefully and in accordance with the norms for\nnaming a company as provided under the Companies Act of 2013. While deciding\nupon a name for the company, the applicant must keep in mind the below\nmentioned:<\/p>\n\n\n\n<ol>\n<li>The applicant must make sure that the\nproposed name is in accordance with the given format according to the\nguidelines of the Companies Act of 2013.<\/li>\n\n\n\n<li>The proposed name must not be similar to the\nname of an existing company or an LLP.<\/li>\n\n\n\n<li>The proposed name should not be an \u201cundesirable\nname\u201d as provided under Rule 8A of the Companies Incorporation Rules of 2014. A\nname shall be undesirable, inter alia, if it contains words which are offensive\nto a specific section of society, if it infringes the trademark of another\nperson or is a prohibited name under any statute or if the name shows a\nconnection to a foreign embassy or consulate or the proposal name is just the\nname of the city, state, country or continent or when the proposed name has \u201cState\u201d\nbut it is not a government company or when the proposed name includes or\nimplies an association or connection with a national hero or a person occupying\na vital position in the Government of India or the proposed name is identical\nto a company which has been dissolved under the liquidation process, and the\nliquidation was conducted two years ago, or the proposed name of the company is\nidentical to that of an LLP which has been struck off since five years or is\nsimilar to an LLP in liquidation or if the proposed name of the company\ncontains the words &#8221; British India.&#8221;<\/li>\n\n\n\n<li>The applicant shall also confirm if any of\nthe subscribers to the memorandum of association of the company are\nalternatively carrying a business as a partnership or proprietorship in the\nsame name.<\/li>\n\n\n\n<li>The applicant must check that the proposed\nname requires an approval from the government or a regulator like the RBI or SEBI.<\/li>\n<\/ol>\n\n\n\n<p>There are certain documents which are required\nto be filed if at all the name resembles the trademark or the name of an\nexisting entity. The documents are mentioned below:<\/p>\n\n\n\n<ol>\n<li>Copy of the board resolution as proof of no\nobjection and using the name of an existing company.<\/li>\n\n\n\n<li>Copy of any direction from the Central Government\nif the name is being changed due to direction which has been received from the\ncentral government.<\/li>\n\n\n\n<li>If the proposed company name resembles or is\nbased on the trademark of an existing entity, an authorization to use the\ntrademark or copier application assignment of the trademark.<\/li>\n\n\n\n<li>Proof of relation<\/li>\n\n\n\n<li>No objection certificate from the partners or\nthe sole proprietor of an entity with an identical or similar name.<\/li>\n\n\n\n<li>No objection certificate from the existing\ncompany.<\/li>\n<\/ol>\n\n\n\n<ul>\n<li><strong>Step:3\nDrafting And Signing The Memorandum Of Association And The Articles Of Association\nOf The Proposed Company<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The name of the company has been approved by\nthe registrar; the applicant is required to provide further details pertaining\nto the proposed company to the MCA. This shall be done by drafting and\nsubmitting the memorandum of association and the articles of association after\ndue attestation.<\/p>\n\n\n\n<p>The memorandum of association and articles of\nassociation of the company must be in conformity with the provisions of the\nCompanies Act of 2013 as is provided under Section 4 and Section 5.<\/p>\n\n\n\n<p>The company&#8217;s memorandum of association and\nthe articles of association must be signed digitally by every person who is\nsubscribed to the memorandum of the company, along with the name, occupation,\nand address of such person.<\/p>\n\n\n\n<ul>\n<li><strong>Attach\nEssential Documents With Form INC-29<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The next step involves attaching essential\ndocuments as mentioned above after they have been duly prepared and signed by\nthe directors or subscribers of the company.<\/p>\n\n\n\n<ul>\n<li><strong>Filing\nForm INC- 29<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Directors or subscribers of a company who do\nnot possess a Director Identification Number or DIN, then the DIN for such\ndirectors shall be applied for under Form INC- 29. The following information\nand submitting the requisite documents as mentioned below:<\/p>\n\n\n\n<ol>\n<li>Information pertaining director or subscriber,\noccupation and education of such person.<\/li>\n\n\n\n<li>If the director is an Indian citizen, then\nthe PAN of such director<\/li>\n\n\n\n<li>Contact details, email ID and address of the\ndirector<\/li>\n\n\n\n<li>Identity proof of the director like the Aadhaar\ncard, voter ID, PAN card<\/li>\n\n\n\n<li>Address proof of the director like an Aadhaar\ncard, utility bills or bank statements<\/li>\n\n\n\n<li>Scanned copy of the passport-size photograph\nof the director<\/li>\n<\/ol>\n\n\n\n<p>If the proposed directors or subscribers\nalready have their director identification number or DIN, then the same shall\nbe entered in the appropriate field.<\/p>\n\n\n\n<p>The Form must be filed accurately and\ncarefully along with the applicable stamp duty. The stamp duty shall be\ndetermined by the authorized share capital of the company and also the state in\nwhich the company is being registered.<\/p>\n\n\n\n<ul>\n<li><strong>Verification\nOf The Application By The Registrar Of Companies<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Once the Form has been duly filled, attested\nand submitted along with the requisite documents, the application and the\ndocuments shall be verified by the registrar of companies or the ROC. If the ROC\nfinds any errors or shortcomings in the application or documents, the applicant\nshall be notified of the same and shall also be granted an opportunity to rectify\nthe mistakes or deficiencies.<\/p>\n\n\n\n<ul>\n<li><strong>Issuance\nOf Certificate Of Incorporation<\/strong><\/li>\n<\/ul>\n\n\n\n<p>If the registrar is satisfied with the\nsufficiency of the documents and the application submitted by the applicant, then\nthe former shall grant a certificate of incorporation to the applicant\u2019s\ncompany within 7 to 8 days. A digital certificate shall be mailed to the\ndirectors of the company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The process of incorporation of a company can often be a daunting task as it involves adhering to multiple compliances and submitting application forms and documents as per the norms of the Ministry of Corporate Affairs. To advance ease of doing Business in India, the Ministry of Corporate Affairs introduced Form INC-29 integrated Form to file for incorporation of a company. This revolutionized and revamped the process of incorporation of a company as it reduced the number of forms which were earlier required to be filed and also minimized the time it took to approve the application. The integrated Form has streamlined the incorporation process as now Form INC-29 can be filed to carry out five tasks like obtaining DIN for three directors, approval of the proposed name of the company, filling out the application for incorporation of the company, application to get PAN for the company, application to obtain TAN for the company. This is in line with India\u2019s view to rise up on the Ease of Doing Business Index maintained by the World Bank.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>: <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-avail-a-company-registration-certificate\/\">How To Avail A Company Registration Certificate?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The benchmark for Ease of Doing Business in a country is often determined by the efficacy of commencing a business in that country. Owing to India\u2019s aim to rise high up in the ranks of the \u201cEase of Doing Business Index\u201d maintained by the World Bank, the Ministry of Corporate Affairs introduced Form INC-29 to [&hellip;]<\/p>\n","protected":false},"author":47,"featured_media":51774,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[3015],"acf":{"service_id":"1"},"authorName":"Sherin Jose","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-4-e1668575330329.jpg","authorDescription":"Sherin has degrees in Law and English Literature from the University of Delhi. She is adept at legal research and writing and enjoys discussing and analysing important legal developments. Her primary interests lie in Corporate, FinTech and IPR Law and she is always on the lookout for exploring new developments in the area. She is an avid reader who loves classics and contemporary fiction. She likes to travel, bake and obsess over cat videos in her free time.","postViews":2893,"readingTime":7,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51773"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=51773"}],"version-history":[{"count":3,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51773\/revisions"}],"predecessor-version":[{"id":66427,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51773\/revisions\/66427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/51774"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=51773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=51773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=51773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}