Company registration has always been a major hassle for people who are looking to start-up their own business in India.With so many procedures, it has always been a lengthy task with not much an ease to complete the process. The newly introduced INC-29, a five-in-one form introduced by Ministry of Corporate affairs (MCA) in May 2015 has come a long way in improving this scenario. This presentation guides you through all the procedures one needs to go till one is officially ready to set up a small business and the relevant documents required for the same.

1. How to kick-start your small business in India?
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2. Overview
At Biz2Credit we understand one’s dreams to run and grow their business. Business
owners are getting a strong support from the current government.
India has been ranked 142nd on the Ease of Doing Business Index and 158th on
Ease of Starting a Business. The newly introduced INC-29, a five-in-one form
introduced by the Ministry of Corporate Affairs (MCA) in May 2015, is helping
improve it further.
There are phases in a business cycle when one seeks financing fuel for the growth
of a small business.
In this presentation we will be focusing on how to get one’s small business running
in India.

3. Procedure 1
• Obtain a Digital Signature Certificate from MCA-authorised agency
• Time to Complete: 2 to 5 days
• Cost to Complete: INR 1,500
* Any one of the proposed directors must obtain a Class-II Digital Signature Certificate (DSC) from an MCA-authorised agency
to use the electronic filing system of the MCA 21.
** There are six vendors in all, including Tata Consultancy Services, e-Mudhra and n-Code. The rates of each vendor differs
vastly, from INR 400 to INR 2650. Charges include the cost of a physical USB token and the certificate itself.
*** It takes 2 to 5 days to complete this, mostly depending on how long it takes to courier your documents to the vendor.
**** The applicant needs to submit the completed Class-II form, self-attested copy of PAN card or, in case of foreign
nationals, a copy of Passport, and self-attested copy of Voter ID/ Ration Card/ Driver’s License/ Latest Utilities Bill/ AADHAR
Card.

4. • Preparing INC-29
• Time to Complete: 1 to 3 days
• Cost to Complete: Company secretary fees
* As soon as you get your DSC, you can file INC-29.
** The INC-29 is an 8-page form requiring several pieces of information and documents, some of which require a Company
Secretary’s signature, to be submitted in one go.
*** In case of errors in your form, resubmission is allowed only once, after which you will have to pay form filing fees again
and apply for a refund on the government fees you’ve paid. So please note the documents you need to have in order to
prepare the INC-29 and the attachments.
Procedure 2

5. For Director Information Number Application:
• Up to three directors can apply for the Director Information Number (DIN) through INC-29; the
rest, if any, may do so separately.
• The DIN is the number through which the MCA identifies directors of companies.
Obtaining a DIN involves the submission of the following documents:
1. Scanned copy of Passport-sized photograph.
2. Scanned copy of PAN card (Passport if foreign national) and Driver’s License/ Voter ID/ Latest Utility Bill.
Both should be self-attested.

6. For Name Approval
While the old process lets you to submit six options for your company name, in order of preference,
the INC-29 allows you to give only one option. Understanding the MCA’s naming guidelines, it is
critical to ensure that your form is approved in the first attempt. Rules you need to follow for this
purpose:
• Ensure that your company’s proposed name has not already been taken on mca.gov.in.
• Ensure that there is no registered trademark in the same name by checking at ipindia.nic.com. If
there is one, you can get an NoC from the trademark owner authorizing you to use it.
• Ensure that the first half of the name is unique. Avoid geographical references, adjectives,
abbreviations and generic terms. Also, the words bank, exchange and stock exchange require
approval from RBI and SEBI.
• Ensure that the second half describes the sector you’re in.
Once you’ve decided on a name, describe the significance of the name in one to two sentences. You
need to fill it in the form itself.

7. For Memorandum and Articles of Association
• The Memorandum of Association (MoA) and Articles of Association (AoA) need to be attached to
the INC-29.
• Should contain the signature of Company Secretary.
• The MoA will also contain the main objects of your business.
• You would also need to attach an affidavit from all subscribers through Form INC-9 (available on
mca.gov.in).

8. For Registered Office Verification
• All companies must have a registered office address.
• This does not have to be a commercial space.
• It can even be the home of a director. But the details need to be provided, along with a copy of
the Rental Agreement along with an NoC from the owner (if rented property) and sale deed (if
property is owned).

9. For Appointment Letters and Declarations
• A number of attachments need to be submitted along with the application.
• It should be self-attested, but a Company Secretary must give a separate declaration toward your
company verifying the authenticity of all the declarations.
The required attachments include:
• Letters of appointment of directors, CEO, managers
• Declaration by first director in INC-9
• Declaration by appointee director and managing director in Form DIR-2.

10. Procedure 3
• Filing INC-29
• Time to Complete: 1 day
• Cost to Complete: INR 2000 + authorised capital fee + stamp duty
Points to Remember:
1. If you have all the papers in order, you can now file the INC-29.
2. Once you file the form, you will be directed to pay the fees and stamp duty to a payment
gateway.
3. The fees will change according to the authorized capital fee and the stamp duty will vary
according to your location.

11. Procedure 4
• Issue of Incorporation Certificate
• Time to Complete: 2 days onwards
• Cost to Complete: Does not apply
Once you receive this certificate, you can follow the old steps listed below from Procedure 6 (Make
a Seal) onwards.

12. Procedure 5
Get the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs
(National)
Points to Remember:
• Electronically Fill in these forms on the website of the Ministry of Company Affairs:
• e-form 1; e-form 18; and e-form 32
• The fees for registering a company can be paid online by credit card or in cash at certain
authorized banks.
• One copy of the Memorandum of Association, Articles of Association, Form 1, Form 32, Form 18
and the original name approval letter, consent of directors and stamped power of attorney must
be physically submitted to the Registrar of Companies.

13. Few of the other things to start up a complete setup
1. Make a seal (Private).
2. Obtain a Permanent Account Number (PAN) from an authorized franchise or
agent appointed by the National Securities Depository Ltd. (NSDL) or the Unit
Trust of India (UTI) Investors Services Ltd.
3. Obtain a Tax Account Number (TAN) for income taxes deducted at source from
the Assessing Office in the Mumbai Income Tax Department.
4. Register with the Office of Inspector, Shops, and Establishment Act
(State/Municipal).
5. Register for Value-Added Tax (VAT) at the Commercial Tax Office (State).
6. Register for Profession Tax at the Profession Tax Office (State).
7. Register with Employees’ Provident Fund Organization (National).
8. Register for medical insurance at the regional office of the Employees’ State
Insurance Corporation (National)

14. That’s It!
You are all set to kick-start your venture!
However, your need for finance does not end here. From time to
time, you will need capital for staying afloat, buying new
equipment or business expansion.
Trust the Biz2Credit platform for all your business funding needs.

15. At Biz2Credit, we offer a paperless, fast, transparent
and easy loan application process.
Loan seekers using our online platform get the
privilege of a dedicated Case Manager to help them
at every stage of the loan application process.
Visit www.biz2credit.in to get more details.
Helping Small Businesses Grow