What is Form INC-29?
INC-29 is a simplified integrated incorporation form introduced by the Ministry of Corporate Affairs (MCA) in India. It allows businesses to incorporate a company quickly by filing a single form instead of multiple forms.
Who Can Use Form INC – 29?
Form INC-29 was introduced by the Ministry of Corporate Affairs (MCA) in India to simplify the process of company incorporation. It was designed to be used by the following entities:
- New Companies: Form INC-29 can be used by new companies for incorporating a company in India. It allows businesses to apply for the allotment of Director Identification Number (DIN), reservation of company name, incorporation of company, and even apply for PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) in a single form.
- Private Companies: Private companies, which are one of the most common types of companies in India, can use Form INC-29 for their incorporation process. Private companies are privately held and have restrictions on the transfer of shares.
- Public Companies: Public companies, which are companies that are owned by the public and traded on the stock exchange, can also use Form INC-29 for incorporation. Public companies have the option to raise capital from the public through the sale of shares.
- One Person Companies (OPCs): OPCs, a type of company introduced in the Companies Act, 2013, which can have only one person as a member, can use Form INC-29 for their incorporation.
How Can Inc-29 Be Used for Fast Track Registration of the Company?
Form INC-29 was introduced by the Ministry of Corporate Affairs (MCA) in India to facilitate fast-track registration of companies. It combines the steps involved in obtaining Director Identification Number (DIN), Name Approval, and Incorporation application into a single form, thereby simplifying the process. Here’s how INC-29 can be used for fast-track registration of a company:
Steps for Fast Track Registration using Form INC-29:
1. Digital Signature Certificate (DSC):
The first step is to obtain Digital Signature Certificates for the proposed Directors of the company. This is necessary because all the forms related to company registration are filed online and require digital signatures for authentication.
2. Director Identification Number (DIN):
The proposed Directors must apply for DIN. DIN can be obtained by filing Form DIR-3 online. If the Directors already have DIN, this step can be skipped.
3. Name Approval:
The promoters need to propose at least one suitable name for the company. The name should adhere to the naming guidelines provided by the MCA. A maximum of six names can be proposed in order of preference. Form INC-29 includes a section for mentioning the preferred company name.
4. Fill Form INC-29:
Form INC-29 is a comprehensive form that includes details of the proposed company, Directors, and other necessary information. It also includes the Memorandum of Association (MOA) and Articles of Association (AOA) of the company. All required information and documents should be filled out accurately in this single form.
5. Payment of Fees:
The prescribed fees for filing Form INC-29 should be paid online.
After filling out the form and making the payment, the form can be submitted online on the MCA portal.
7. Verification and Approval:
The MCA will verify the submitted form and documents. If everything is in order, the Registrar of Companies (RoC) will approve the application. If there are any discrepancies or additional documents are required, the applicant will be informed, and necessary corrections or additions can be made online.
8. Certificate of Incorporation:
Once the form is approved, the MCA will issue the Certificate of Incorporation. This document officially signifies the creation of the company.
Documents Required For INC-29
The following are the key documents and information required for filing Form INC-29, which combines the process of obtaining Director Identification Number (DIN), Name Approval, and Incorporation application into a single form for company registration in India. Here are the general documents and information typically required for Form INC-29:
1. Memorandum of Association (MOA) and Articles of Association (AOA):
MOA and AOA are essential documents outlining the company’s objectives, rules, and regulations. These documents need to be prepared and submitted with the form.
2. Declaration by Professionals:
A declaration needs to be submitted by a Chartered Accountant, Cost Accountant, or Company Secretary certifying that all compliances have been made.
3. Proof of Office Address:
Documents such as electricity bill, telephone bill, or property tax receipt that proves the registered office address of the company.
4. Identity and Address Proof of Directors:
PAN card and Aadhaar card of all proposed directors. Passport, Voter ID, or Driver’s License can also be submitted as identity proof.
5. Passport Size Photographs of Directors:
Passport size photographs of all proposed directors need to be attached.
6. Utility Bill as Address Proof of Directors:
Documents like electricity bill, telephone bill, or bank statement of directors as address proof. These documents should be recent and not more than two months old.
7. Proof of Name Availability:
The approval of the proposed company name from the Ministry of Corporate Affairs.
8. Digital Signature Certificates (DSC) of Directors:
DSCs of all proposed directors are required for signing the form electronically.
1. Company Name:
The proposed name of the company. Multiple names can be provided in order of preference.
2. Capital Structure:
Details about the authorized and paid-up capital of the company.
3. Director Details:
Information about the proposed directors, including their names, addresses, DINs, and photographs.
4. Shareholder Details:
Information of the shareholders, including their names, addresses, and shareholding percentages.
5. Registered Office Address:
Address of the proposed registered office of the company along with proof of address.
6. Business Activities:
Brief description of the main business activities of the company.
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