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ca (India) Hyderabad
REGISTERING A COMPANYRegistration Requirements in detail :
| Procedure 1. |
Present application to the Registrar of Companies (ROC) for availability of company name | ||||||||||||||||||||||||
| Time to complete: | 4 days | ||||||||||||||||||||||||
| Comment: |
To check whether the name is acceptable or available, the entrepreneur can use the website of the Ministry of Company Affairs (“MCA”) – http://www.mca.gov.in/. For any clarification or doubt the office of the Registrar of Companies (‘ROC’), Andhra Pradesh , can be visited . After the name has been finalized, six names in order of preference can be inserted in the prescribed Form 1-A for making the application to the agency notified by the MCA for seeking availability of desired name. The said Form 1A is thereafter forwarded to the office of RoC for further processing While filing Form 1A it should be ensured that:
The status of application filed can be ascertained from the MCA’s website. The Ministry of Company Affairs has laid down guidelines as regards the use of key words in a company’s name. In order to have a key word as part of the company’s name, the following minimum authorized share capital requirements have to be fulfilled: -
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| Procedure 2. | Engross Memorandum and Articles of Association according to the Andhra Pradesh Stamp Act | ||||||||||||||||||||||||
| Time to complete: | 2 days | ||||||||||||||||||||||||
| Comment: |
The Memorandum and Articles of Association is drafted on plain paper and then presented to the Officer of Stamps for stamping. Special adhesive stamps are affixed on the MOA and AOA. The application should be accompanied necessarily by the following: (i) Two Blank Copies of the Memorandum of Association and Articles of Association. (ii) Payment receipt. Ensure that the copies submitted to the Superintendent of Stamps for stamping are unsigned and no promoter or subscriber has written anything on it by hand. The Superintendent returns the copies one of which is duly stamped, signed and engrossed evidencing the payment of the requisite stamp duty. The rate of Stamp duty varies among States. | ||||||||||||||||||||||||
| Procedure 3. | Present the required documents along with the registration fee to the Registrar of Companies to get the certificate of incorporation | ||||||||||||||||||||||||
| Time to complete: | 8 days | ||||||||||||||||||||||||
| Comment: |
The print out of the Memorandum and Articles of Association of the Company on the non judicial stamp paper are to be signed by at least two subscribers, each of whom shall also write in his own hand, his fathers name, occupation, address and the number of shares subscribed for. There will at least be one witness to these signatures, who shall also sign and write in his own hand, his fathers name, occupation and address. Get the following documents prepared:
The fees paid to the Registrar for registration are scaled according to the amount of the share capital of a company as stated in its memorandum. The schedule is as following: For registration of a company whose nominal share capital does not exceed Rs.100,000: Rs. 4,000. For registration of a company whose nominal share capital exceeds Rs.100,000, the above fee of Rs.4,000 with the following additional fees regulated according to the amount of nominal capital:- (a) Rs. 300 for every Rs.10,000 of nominal share capital or part of Rs.10,000 after the first Rs.1,00,000 up to Rs.5,00,000; (b) Rs. 200 for every Rs.10,000 of nominal share capital or part of Rs.10,000 after the first Rs.5,00,000 up to Rs.50,00,000; (c) Rs. 100 for every Rs.10,000 of nominal share capital or part of Rs.10,000 after the first Rs.50,00,000 up to Rs.1 crore; (d) Rs. 50 for every Rs.10,000 of nominal share capital or part of Rs.10,000 after the first Rs.1 crore. The above stated fees are required to be paid in the office of the ROC by way of a Demand Draft/ Treasury Challan. The DD has to be drawn in favor of either the office of the concerned ROC or in favor of the Pay and Accounts Officer, Department of Company Affairs. Schedule of RoC filing fees for the Articles and for the other forms l, 18 and 32:
The ROC will then scrutinize the documents filed by the Company and if necessary the authorized person will on intimation make the necessary corrections under his initials. Obtain the Certificate of Incorporation of the company from the office of the ROC. The company can commence its business on getting incorporation certificate from RoC. The other procedures given below can be done after the business is started. Although the process of electronic filing has begun to take place, as of April 2006, the person incorporating has two choices. He or she can either file the company documents in the traditional manner, or can prepare a soft copy of all forms (which are now available online), save them in a floppy or CD, and take it to the registry where it is uploaded to the new system and filed. Once the electronic system is fully implemented, the goal is that an entrepreneur will be able to incorporate the company from any computer. All documents for company incorporation will be available for electronic filing subject to the condition that the person has obtained a Digital Signature Certificate. To obtain a Digital Signature Certificate an application is required to be submitted with the agencies, which are notified by the MCA. Another new requirement is the Directors Identification Number (DIN); which will be mandatory for every person who is a director on the board of the company. Directors can receive a provisional DIN through the Web. The provisional number is used in the same way as the final number, which will be issued in about 30 days. A person can only have one DIN and it is used for all companies for which he or she is a director | ||||||||||||||||||||||||
| Procedure 4. | Obtain a company seal | ||||||||||||||||||||||||
| Time to complete: | 3 days | ||||||||||||||||||||||||
| Comment: | Company shall arrange for its Common Seal from the vendor dealing in seals and stamps. | ||||||||||||||||||||||||
| Procedure 5. | Visit the NSDL to obtain a Permanent Account Number | ||||||||||||||||||||||||
| Time to complete: | 15 days | ||||||||||||||||||||||||
| Comment: |
The task of allotment of PAN in Hyderabad has been assigned by the Ministry of Finance, Government of India to Unit Trust of India (“UTI”). The offices of UTI are situated in all the major cities of India. Accordingly, an application can be made at the designated office of UTI in Hyderabad in the prescribed From No. 49A. The Form is available at all the designated offices of UTI and can also be printed from the website of the Income Tax Department. Documents required will be Certitificate of Incorporation issued by the Registrar of Companies and Situation of Registered Office (Form 18) which is filed with the RoC. Related link is www.incometaxindia.gov.in. | ||||||||||||||||||||||||
| Procedure 6. | Obtain a Tax Account Number for income taxes deducted at source from the Assessing Office in the Income Tax Department | ||||||||||||||||||||||||
| Time to complete: | 15 days, simultaneous with procedure 5 | ||||||||||||||||||||||||
| Comment: |
Similarly every person is also required to obtain Withholding Tax Number (Tax deducted at source number (TAN)) within 30 days from the date of first deduction of tax. TAN can also be collected from the agencies notified by Ministry of Finance in this behalf by filing an application in the prescribed From No. 49B Permanent Account Number is required to be submitted along with the application for obtaining the Tax Deduction Account Number. Related link is www.incometaxindia.gov.in. | ||||||||||||||||||||||||
| Procedure 7. | Register for Value Added Tax | ||||||||||||||||||||||||
| Time to complete: | 15 days, simultaneous with procedure 6 | ||||||||||||||||||||||||
| Comment: |
Every company which is liable to pay tax under the Andhra Pradesh VAT shall obtain the Andhra Pradesh Value Added Tax registration. An application for Registration is to be made in Form A-1 with the prescribed fee.
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| Procedure 8. | Registration for Professional Tax | ||||||||||||||||||||||||
| Time to complete: | 1 day | ||||||||||||||||||||||||
| Comment: | |||||||||||||||||||||||||
| Procedure 9. |
Registration under the Employees Provident Fund (Miscellaneous Provisions) Act, 1952 | ||||||||||||||||||||||||
| Time to complete: | 20 days, simultaneous with procedure 7 | ||||||||||||||||||||||||
| Comment: |
The Employees' Provident Fund and Miscellaneous Provisions Act, 1952 provides for the institution of compulsory Provident Fund, Pension Fund and Deposit Linked Insurance Fund, for the benefit of the employees in factories and other establishments. The Act applies to every factory and establishment in which 20 or more persons are employed and which is engaged in any industry as specified. The company would be required to cover its employees under the provisions, once it crosses the limit of 20 employees. An application in the Employer's Registration Form is required to be submitted with the office of the Regional Provident Fund Commissioner, Office of Provident Fund. | ||||||||||||||||||||||||
| Procedure 10. | Registration under Employees State Insurance Act, 1948 | ||||||||||||||||||||||||
| Time to complete: | 14 days, simultaneous with procedure 7 | ||||||||||||||||||||||||
| Comment: |
The Employees' State Insurance Act, 1948 provides for grant of cash benefits to the employees in the recognized contingencies of sickness, maternity and employment injury. It also provides for medical benefit, in kind, to the employees and their families. The Act is applicable to all non-seasonal factories and certain establishment. For registration under the Act, an application in the prescribed Form is required to be made to Regional Office of Employee State Insurance Corporation ESIC Registration is optional if employee strength is less than 20.This procedure can be commenced simultaneously with procedure 7 | ||||||||||||||||||||||||
| Procedure 11. | Register under Shops and Establishment Act | ||||||||||||||||||||||||
| Time to complete: | 4 days | ||||||||||||||||||||||||
| Comment: |
Registration is required to be made under the Andhra Pradesh Shops & Establishment Act, 1953. For this purpose an application is required to be submitted with the Inspector of the area concerned, along with the applicable fee (depending on number of workers working in the establishment) for registration of the establishment. The statement shall consist of the following information:
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