New Cost of Company Registration in India

By Trademark Bazaar - 29th January 2018

New Cost of Company Registration in India

A great initiative has been taken by the government of India to remove the government fees levied on the company registration in India. Along with this benefit, certain other initiatives are taken by the government to simplify the procedure for registration of companies. 

Earlier the aspiring entrepreneurs and the startups have to go through a tedious procedure for company registration and bear a substantial cost for it. Whole process starting from obtaining the director identification number to acquiring the certificate of incorporation was time-consuming and troublesome. Applying for the name and then acquiring the name approval from the ministry was a common problem that everybody was facing. 

Initiatives

Considering the apprehensions of the startups and small business government has taken following significant steps to make the company registration process hassle-free and quick-    

1. No government fees will be levied for all the company registrations up to an authorized capital of Rs.10 lakh.

2. A separate procedure is required to be followed for filing a company name.

3. New services known as the Reserve Unique Name (RUN) will be launched.

4. Company name approval will be filed without using digital signatures.

5. DIN will not be required to be a file for company name approval.

6. DIN will be required only while filing the SPICE forms.

Benefits for Startups and emerging entrepreneurs

These initiatives taken by the government will give a great head start to the every emerging company and promote ease of doing business in India. Further, the cost of registration of the company in India will reduce drastically as no government fees will be levied on company registration. Moreover, the simplification in procedure will also significantly reduce the time consumed in company registration process.

New cost of company registration

According to the notification released by the government, the cost of registration of companies in India will reduce drastically. The new cost for the company which a person will need to bear which are as follows:

1.   Government fees nil.

2.   DIN Fees of Rs.500 per Director

3.   DSC Fees of Rs.600 per promoter

4.   State Stamp duty which comes around between Rs.200 to Rs.10,000/- (Rs.10,00 stamp duty is for Punjab).

5.   Professional fees (Comes around from Rs.4,000 to Rs.15,000/-)

6.  Stamp paper and miscellaneous cost come around to Rs.500 to Rs.2000/- (Depends upon the number of members).

Recent from the blog

Maintaining Books of Accounts by Company

BY Trademark Bazaar 21st February 2018

Preparing and maintaining proper books of accounts is essential for any company as it mandatory according to Companies Act 2013. Also, the proper books of accounts are necessary to prepare the accurate financial statements of the company.

VIEW

Importance of Trademark Registration

BY Trademark Bazaar 15th February 2018

If you desire to create a mark of your product in the minds of people getting a trademark is an ideal option for you. The trademark helps you to uniquely identify your product from the others and create a unique brand image. 

VIEW

After Incorporation Compliances for Company

BY Trademark Bazaar 8th February 2018

There are certain annual compliance requirements and other compliances that every business entity is required to fulfill according to the Companies Act 2013. Compliance refers to the set of rules and regulations that must be followed according to the law

VIEW

FACEBOOK
BLOG SEARCH
ARCHIVES
UPDATES

TM Bazaar blog gone social

Get the latest updates of TM Bazaar

Leave a Comment

Do you have any Question? Call us on +91-8882-312-312