Company Incorporation 

The Companies (Incorporation) Amendment Rules, 2024 were introduced by the Ministry of Corporate Affairs (MCA) in India. Here are the key changes:

1. Effective Date: These rules came into force on 16th July 20241.

2. Rule 8A Amendments:

   • Nidhi Companies: The term “Nidhi” has been omitted from clause (p) of rule 8A.

   • Other Omissions: Clause (v) has also been removed from rule 8A

The following paperwork must be submitted by an entrepreneur in order to incorporate their business.

(A) An association memorandum.

(b) The association's articles.

(c) A written commitment to purchase the qualifying shares and the prospective directors' consent to serve as directors.

(d) A contract designating, if applicable, the full-time director, manager, or prospective managing director.

(e) A copy of the letter authorizing the suggested company name that was acquired from the relevant registrar.

(f) A formal legal affirmation from the law certifying that all necessary paperwork and registration criteria have been submitted.

(g) The registered office's precise address.

(h) Verification in writing that the registration cost was paid.

Choose a Business Structure:

• Decide on the legal structure for your startup. Common options include Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP)1.

Check Company Name Availability:

• Visit the Ministry of Corporate Affairs (MCA) website and use the RUN (Reserve Unique Name) service to check if your proposed company name is available2.

Obtain Digital Signature Certificate (DSC):

• All filings under MCA21 e-Governance require a DSC. Choose a certifying authority and follow their process to obtain a DSC2.

Associate DSC with MCA:

• One of the directors (who will sign the forms) must associate their DSC with MCA. Follow the steps on the MCA website2.

Draft Memorandum of Association (MOA) and Articles of Association (AOA):

• Prepare these essential documents that define your company’s objectives, rules, and regulations3.

File SPICE+ Forms:

• Use the SPICE+ form for company incorporation. Part A reserves the name, and Part B completes the incorporation process1.

Conduct Pre-Scrutiny Check:

• Ensure all details are accurate before submitting the forms

The process of incorporating a business and granting a company registration certificate are governed by the Companies Act 2013 (the "Act"). Without the registration certificate issued by the Registrar of Companies (ROC), an Indian company cannot conduct business. When the business complies with the Act's requirements, the ROC will issue the registration certificate.

The founders of the company should use the Ministry of Corporate Affairs ('MCA') website to submit an application for company registration. On February 23, 2020, the MCA introduced a new form for company incorporation called the SPICe+ form. The SPICe+ form is applicable to all newly incorporated businesses as of February 23, 2020. To Know more please visit our blog Company incorporation

No, company incorporation costs are not directly tax deductible against Corporation Tax. However, certain related expenses, such as accountancy fees and drafting incorporation documents, can be deducted. Always consult a tax professional for personalized advice.