Zero Registration Fee for Establishment of New Companies
Govt announces no registration charges for newly establishing companies to encourage them.
- (1888PressRelease) August 31, 2018 - By Muneeta Dhiman
On the eve of 69th Republic Day, Government announced some important amendments in the process of company registration to give boost to new startups. The appealing amendment is that companies having authorized capital less than Rs.10 lakh are exempted from registration fee.
Apart from this, Government has launched RUN (Reserve Unique Name) service. A prospective company can reserve its name using this application without obtaining DIN (Director’s Identification Number) and Digital Signature which was mandatory previously. Only one name is required to be given for registration bearing Rs.1000 fee per form submission for name reservation.
In April 2017, new SPICe form was issued that consolidated the entire process in one step. It combined DIN, Name Reservation, Incorporation, PAN and TAN. The provision for filing eMOA and eAOA has been inscribed in the process itself which does not carry any charges. For filing SPICe e-form also, DIN is not required and can be obtained later.
These efforts taken by the government are commendable to encourage to budding entrepreneurs that provided hassle free one-step incorporation process.
For more information visit https://writermuneeta.blogspot.com/
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