Registrars of Companies (ROC) allocated under Section 609 of the Companies Act enveloping different States and Union Territories, is authorized to register a company in India and guarantees that such firms abide by the constitutional prerequisites under the Act.
The Registrars of Companies in different states chiefly manage:
- The integration of companies,
- Change of name of companies,
- Change of fiscal year
- Alteration of companies from Private to Public and vice versa,
- Eliminating the names of companies and
- Penalty action against companies.
Step 1 - Attain director identification number (DIN) by filling Form DIN-1. The temporary DIN is instantly issued which must then be printed, signed and sent to the Ministry of Corporate Affairs for its consent along with the identity and address proof.
The Identity Proof should contain any one of the following:
- PAN Card
- Driving License
- Voter Id Card
- Driving License
- Voter Id Card
- Telephone Bill
- Ration Card
- Electricity Bill
- Bank Statement
Step 2 - Acquire digital signature certificate to utilize the latest electronic registration system under MCA 21. This certificate can be acquired from any one of the six private bureaus sanctioned by MCA 21. Director of the company is required to submit the recommended application form along with the identity and residence proof.
Step 3 - Cache the company name with the Registrar of Companies (ROC). To attain name consent for the suggested firm, Form No. 1A should be presented to the Registrar of Companies (ROC) of the state citing the address of the Registered Office of the projected firm along with the signature of one of the promoters.
A maximum of 6 proposed names can be presented which are verified by RoC staff for any resemblance with other company names in India. This process takes two days for attaining consent of the name if the suggested name exists and matches to the naming values instituted by the Company Act.
Step 4 - Seal the company credentials at the State Treasury (State) or certified private bank. The appeal for stamping the inclusion certificates should be complemented by unsigned copies of the Articles of Association, Form - 1 and Memorandum and Articles of Association. The firm must make sure that no promoter has written anything nor have signed on the documents which are deposited to the Superintendent of Stamps or to the certified bank for stamping. The price of stamp duty differs from state to state.
The documents should be signed by the firm's promoters after the MOA and AOA have been stamped. Besides the promoter's signature, other information which must be filled in applicant's handwriting is the company's name, description of company's activities and motive, father's name, address, occupation and number of shares subscribed.
Step 5 - Attain the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs. The forms which are required to be filled online on the Ministry of Company Affairs website are: e-form 1; e-form 18; and e-form 32. Along with these papers, copies of agreement of the original directors and signed and sealed form of the Memorandum and Article of Association must be enclosed in Form 1.
Step 6 - Make a seal (applicable for the private limited companies). Making a company seal is not a legal obligation for the firm to be integrated, but firms require a seal to deliver share certificates and other certificates.
Step 7 - Attain a Permanent Account Number (PAN) from a certified franchise or agent allotted by the National Securities Depository Ltd. (NSDL) or the Unit Trust of India (UTI) Investors Services Ltd., as outsourced by the Income Tax Department (National). Each person is entitled to state his or her Permanent Account Number (PAN) for the purpose of tax payment under the Income Tax Act, 1961 and the Tax Account Number (TAN) for submitting tax reduced at source. One can get PAN application from IT PAN Service Centers or TIN Facilitation Centers using Form 49A with the acknowledged copy of the certificate of registration, released by the Registrar of Companies along with the identity and residence proof.
Step 8 - Acquire a Tax Account Number (TAN) for income taxes abstracted at source from the Assessing Office of the Income Tax Department. The Tax Account Number (TAN) is required by anyone accountable for deducting or gathering tax. The prerequisites of Section 203A of the Income Tax Act state that all individuals who subtract or collect tax at the source must submit an application for a TAN. The submission for allotment of a TAN must be registered using Form 49B and deposited at any TIN Facilitation Center certified to accept e-TDS returns.
Step 9 - Enroll with the Office of Inspector, Shops, and Establishment Act (State/Municipal). Under this procedure, a proclamation incorporating the names of employer's and manager's and the establishment's name (if any), postal address, and group must be delivered to the local shop inspector with the pertinent fees.
Step 10 - Enroll for Value-Added Tax (VAT) at the Commercial Tax Office (State). Registration of VAT requires filling up of Form 101. Other credentials which need to be enclosed with Form 101 are:
- Attested copy of the memorandum and articles of association of the company,
- Residence proof,
- Proof of location of company,
- Applicant's one current passport-sized photograph,
- Copy of PAN card,
- Challan on Form No. 210