Why was Form INC-29 introduced?
Registration of the company is one of the biggest problems faced by entrepreneurs when they are looking to set up a business in India. Various registrations are required for starting a business due to which a number of forms have to be filled. To overcome this hassle, the Ministry of Corporate Affairs has introduced a five-in-one form INC-29. The INC-27 follows the same old procedure but it has reduced the interaction with authorities as multiple forms are clubbed together.
The INC form contains a single application for multiple forms such as such as DIN allotment, incorporation, name reservation, PAN, TAN and ESIC registration. The form is accompanied by the supporting documents which include the details of the directors and subscribers, AoAs, MoAs, etc. Once the documents are filed and the form is processed, the company gets registered and those directors who do not have DIN are issued DINs. Maximum 3 directors can be allotted DIN while registering a company using this form.
Procedure for Registering a Company with the help of INC-29
Follow these steps to get your company registered using INC-29:-
The first thing required to register a company using INC-29 is a digital signature of any one of the directors of the company. To apply for a digital signature, a signed digital signal form along with a self-attested copy of the PAN Card and address proof has to be submitted.
The second step is the preparation of INC-29 Form. The following details are required for filling the INC-29 form:-
- DIN Number:- If the director’s cum subscribers already have a DIN No., they can fill it in the required field, otherwise they have to fill the DIN application in the Form itself and submit the following documents –
- Personal, educational and occupational details.
- PAN No. for Indian Citizens and Passport No. for foreign citizens.
- Email ID of the Director.
- Address details of the Director.
- ID Proof and Address Proof.
- Company Name:- The name of the company should be strictly according to the guidelines for naming a company, as per the Company Act, 2013 as only one name can be provided using the form. If the name is not accepted, the form gets rejected.
- Required Documents:– the following documents are required to be signed and submitted by the directors/subscribers along with the form –
- Memorandum of Association.
- An article of association.
- Affidavit and Declaration by first directors/subscribers.
- Proof of office address.
- Copies of the utility bill of the registered office address which are not older than 2 months
- NOC from the owner if the proposed company name is a filed or registered trademark.