bkg.co.in

+91-129-4026100


	Home Services Auditing Services Taxation Services Service Tax Matters RBI & FEMA Matters Incorporating Company in India Investment advisory and Planning in India Certification Services Management Auditing & Consulting Services Corporate Financial Services Team Knowledge Bank Calculators GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Instalment RERA Calculator Developers Calculator Home Buyer Delay Interest Home Buyer Refund Bulletins RBI SEBI Notification Circular Income Tax Service Tax Central Sales Tax Excise Matters Customs Company Law Labour Laws FEMA The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT Delhi VAT Maharastra VAT Gujarat VAT Telangana VAT Tamil Nadu VAT IGST UTGST Compensation Cess IBC Regulation Utilities Rates of TDS TDS Rates for N.R.I us 195 Rates of Income Tax Depreciation Rates Companies Act Depreciation Rates Income Tax Act ROC Filing Fees (Cos Act, 2013) ROC Fee Structure (Cos Act, 2013) Cost Inflation Index IFSC Codes MICR Codes Rates of NSC Interest Gold and Silver Rates Rates of Stamp Duty LLP Fees National Industries Classification HSN Rate List Deduction u/s 80TTA Vs 80TTB Links Quick Links Important Links GST/VAT Links Ease Of Doing Business Acts Direct Tax Income Tax Act Wealth Tax Act Income Declaration Scheme 2016 Indirect Tax Service Tax(Finance Act, 1994) Central Sales Tax Act, 1956 The Central Excise Act, 1944 Customs Act, 1962 Entry Tax Act Corporate Laws Companies Act, 2013 Companies Act, 1956 LLP ACT SEBI Act, 1992 VAT Laws Delhi Value Added Tax Act, 2004 MVAT Act, 2002 West Bengal VAT Act, 2003 Tamilnadu VAT ACT, 2006 Karnataka Value Added Tax Act, 2003 Gujarat Value Added Tax Act, 2003 UP VAT Act, 2008 Rajasthan Value Added Tax Act, 2003 Punjab Value Added Tax Act Haryana Value Added Tax Act Telangana VAT Act 2005 Andhra Pradesh VAT Act, 2005 Bihar Value Added Tax Act, 2005 Other Statutes ESI Act, 1948 PF Act, 1952 Profession Tax Act The Indian Partnership Act, 1932 Societies Registration Act, 1860 Competition Act, 2002 Reserve Bank of India Act, 1934 MRTP Act, 1969 Equalisation Levy Act, 2016 Right To Information Act, 2005 FEMA, 1999 Maharashtra RERA RERA, 2016 Insolvency & Bankruptcy Code, 2016 Benami Property Act 1988 GST Laws IGST Act , 2017 CGST Tax Act, 2017 UTGST Act, 2017 GST (Compensation to States) Act Rules Direct Tax Rules Income Tax Rules Wealth Tax Rules 1957 Income Declaration Scheme Rules 2016 Indirect Tax Rules GST Valuation Rules , 2016 Service Tax Rules CST (Delhi) Rules, 2005 CST (Maharashtra) Rules Customs Valuation Rules Cenvat Credit Rules, 2017 Entry Tax Rules Corporate Laws Rules Companies Rules, 2014 LLP Rules, 2009 LLP Winding up Rules, 2012 Cos Unpaid Dividend Rules, 1978 VAT Laws Rules Delhi VAT Rules, 2005 Maharashtra VAT Rules, 2005 West Bengal VAT Rules, 2005 Tamilnadu VAT Rules, 2007 Karnataka VAT Rules, 2005 Gujarat VAT Rules, 2006 Uttar Pradesh VAT Rules, 2008 Rajasthan VAT Rules, 2006 Punjab VAT Rules Haryana VAT Rules, 2003 Telangana VAT Rules 2005 Andhra Pradesh VAT Rules, 2005 Bihar Value Added Tax Rules, 2005 Other Statutes Profession Tax Rules NBFC Deposits Directions, 1998 NBFC & Misc NBC (Advt) Rules, 1977 NBFC Auditor Report Directions, 2008 Delhi Labour Welfare Fund Rules, 1997 Cost records and audit Rules, 2014 Baggage Rules, 2016 Equalisation Levy Rules, 2016 NCLT And NCLAT Rules Insolvency & Bankruptcy Rules Benami Property Rules, 2016 GST Rules CGST Rules, 2017 IGST Rules 2017 Forms Income Tax Forms ROC Forms (Cos Act, 2013) ROC Forms (Cos Act, 1956) Income Declaration Forms Wealth Tax Forms Service Tax Forms Companies Unpaid Dividend Forms NBFCs Forms LLP Winding up FEMA Forms LLP Forms CGST Forms GST Forms Accounts and Records Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Value of Supply News Query Careers Admin Login Email Login Time Sheet Contact Us

FAQ

What is the minimum paid-up capital of a Private Limited Company?
The minimum paid up capital at the time of incorporation of a private limited company has to be Indian Rupees 1, 00,000. There is no upper limit on having the authorized capital and the paid up capital. It can be increased any time, by payment of additional stamp duty and registration fee.

What is the procedure in obtaining a name approval for the proposed Company?
An application in form No.INC-1 needs to be filed with the Registrar of Companies {ROC} online through Digital Signature of one of the proposed director. The details to be furnished in the said application are as follows:

1. Alternative names for the proposed company.(The name can be      coined names from the objects of the proposed company or the      name of the directors, etc but should definitely be indicative of the      main object of the company. Justification for the name needs to be      specified along with the application)
2. Names and addresses of the promoters {Minimum 7 for a public      company while 2 for private company}.
3. Authorized Capital of the proposed company
4. Main objects of the proposed company.
5. Names of other group companies.
6. On submitting the application, the ROC scrutinizes the same and sends the approval/objections in about 3-4 days to the applicant through e-  mail.

What is the Memorandum of Association {MOA} and the Articles of Association {AOA} of a company and what is the procedure in this regard?
On receipt of the name approval intimation from the ROC the MOA and the AOA are required to be drafted. The MOA states the main, ancillary/subsidiary and other objects of the proposed company. The AOA contains the rules and procedures for the routine conduct of the proposed company. It also states the authorized share capital of the proposed company and the names of its first/permanent directors. After that MOA and AOA are required to be stamped.
A stamp duty is required to be paid on MOA and AOA. The stamp duty depends on the authorized share capital.

What are the documents required to be executed for incorporation?
The following documents are required to be executed before they are submitted to the ROC:

MOA and AOA - These are required to be signed by the promoters in their own handwriting in presence of a witness stating their full name, father’s name, residential address, occupation and number of shares subscribed for, etc

Form No. INC-7- This is a declaration to be executed on a non-judicial stamp paper by one of the directors of the proposed company or other specifiedpersons such as Attorneys or Chartered Accountant stating that all the requirements of the incorporation have been complied with.

Form No. INC-22- This is a form to be filed by one of the directors of the company informing the ROC the registered office of the proposed company

Form No. DIR-12- This is a form stating the fact of appointment of the proposed directors on the board of directors from the date of incorporation of the proposed company and is signed by one of the proposed directors.

Power of Attorney signed by all the subscribers of MOA authorizing one of the subscribers or any other person to act on their behalf for the purpose of incorporation and accepting the certificate of incorporation.

Filing fees as may be applicable.

How is the certificate of incorporation issued?
After the documents are filed, the ROC calls the attorney for scrutiny and making the corrections in the MOA and AOA filed. On complying with the same, the certificate of Incorporation is issued.

When can the newly formed company start its business operations?
On receipt of the certificate of corporation, the public company has to complete certain other legal formalities such as a statutory meeting {with 6 months}, statutory report, etc. On completion of the said formalities and on filing of the statutory report with the ROC the ROC issues the certificate of commencement of business operations. The Private Company can start its business immediately on incorporation.

How can we comply with legal formalities when we are not stationed in India?
You can give Power of Attorney to a person to appear before ROC to complete the necessary formalities after getting MOA, AOA, Power of attorney and other allied documents notarised by notary public and attested by Indian Embassy/Consulate situated in foreign country.

What other approvals are required for foreign investor in India?
Once the company is incorporated in India, foreign investor has to either intimate Reserve Bank of India{RBI} of the foreign equity or take approval of Foreign Investment Promotion Board{FIPB}.Intimation to RBI or approval from FIPB is dependent upon sector in which foreign investor intends to do business.

How does a foreign company invest in India?

Either through:-

1. Automatic Approval-by the country's Central Bank, the Reserve Bank of India (RBI)
Automatic Approval through Reserve Bank of India is available for all items/activities except o few as given in the Press Note No.4(2006series)
No prior approval required. The company is only required to report to RBI within 30 days of receipt of foreign equity/allotment of shares.

2. Foreign Investment Promotion Board {FIPB} approval is required for all other proposals not eligible for Automatic Approval.

285363 Times Visited

E-37, First and Second Floor Nehru Ground N.I.T, Faridabad - 121001, Delhi-NCR.

+91-129-4026100
We feel happy to talk

mail@bkg.co.in
Write Your Message

Disclaimer