portal incorporation
The following are some of the high-level changes done in the Incorporation Forms in Version 3 (V3) when compared to Version 2 (V2):
Simplified process: The process for incorporating a company has been simplified by reducing the number of forms required to be filled.
Introduction of SPICe form: The SPICe (Simplified Proforma for Incorporating Company Electronically) form has been replaced by the SPICe form, which includes various new features like the option to apply for GSTIN and EPFO registration.
Introduction of AGILE-PRO: The AGILE-PRO form has been introduced for obtaining Professional Tax registration, opening a bank account, and obtaining ESIC registration.
Introduction of web-based form: The new web-based form is now available for reservation of name of a company.
Additional details required: V3 forms require additional details related to the company's activities and its promoters, including the details of the directors, shareholders, and proposed business activities.
Auto-generation of PAN and TAN: PAN and TAN are now auto-generated for the company at the time of incorporation.
These are some of the high-level changes made in the incorporation forms in V3 when compared to V2.
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Hi Sohil Sir
The high-level changes done in incorportion forms in V3 when compared to V2 are as follows:
SPICe PART A:
a. NIC code 2008 introduced with option of selecting 3 business activities with 5-digit code.
b. Several checks/business rules/Trademark validations are put in place at FO level to check compliance with The Companies (Incorporation) Rules, 2014
SPICe PART B:
a. Introduction of e-MOA and e-AOA for section 8 companies also
b. INC-3 made e-form and DSC of nominee would be required
c. Bifurcation of capital into different classes to be provided
d. A box to be displayed adjacent to the data entry in the form at FO level, for those fields where it is required to upload attachment such as Identity proof, residential proof etc. to ensure enhancement in BO processing.
e. The requirement to provide INC-14 as an attachment to be done away with by adding it in the ‘Declaration by Professional’.
f. The requirement to provide INC-15 as an attachment to be done away with by adding it in the 'Declaration by all subscribers and directors’
g. The requirement of providing attachment 'Resolution of unregistered companies in case of Chapter XXI (Part I) companies' in SPICe Part B is to be moved to the attachment section of URC1.
h. The requirement to provide attachment ‘Attachment – Part A’ in case SPICe Part A is approved separately to be done away with.
i. Attachments removed and information captured in machine readable format
URC-1:
a. The requirement of providing attachment 'Resolution of unregistered companies in case of Chapter XXI (Part I) companies' in SPICe Part B is to be moved to the attachment section of URC1.
b. Attachments ‘Consent of majority of members’, ‘Consent of at least three-fourth of members agreeing for registration under this part’, ‘Declaration from all the members regarding compliance as per section 8(1)(b) and section 8(1)(c) of the Act and detailed objects of the company’ have been removed and added as declarations in INC-9 form.
c. Attachments ‘Declaration of two or more directors verifying the particulars of all members/partners’, ‘Undertaking by the proposed directors for compliance with requirements of Indian Stamp Act, 1899’ have been removed and added as declarations in URC-1 form.
d. Attachment ‘Certificate from a CA/CS/CWA certifying the compliance with all the provisions of Stamp Act, to the extent applicable’ has been removed and added as declaration under ‘Declaration professional’ in URC-1.
e. Inclusion of additional fields for capturing the publication of advertisement as per Rule 4 of Companies (Authorized to register) Rules, 2014, objection details along with an attachment ‘Copy of objection(s) received from companies along with details of resolution(s) provided, if applicable’ added
INC-9:
a. The requirement to provide INC-15 as an attachment to be done away with by adding it in the 'Declaration by all subscribers and directors’
b. Attachments ‘Consent of majority of members’, ‘Consent of at least three-fourth of members agreeing for registration under this part’, ‘Declaration from all the members regarding compliance as per section 8(1)(b) and section 8(1)(c) of the Act and detailed objects of the company’ have been removed and added as declarations in INC-9 form.
E-MoA and E-AoA: a. Introduction of e-MOA and e-AOA for section 8 companies also.
b. Auto-population of object clause, subscriber and share capital details from SPICe Part A and Part B.