The passion of being a startup is growing at a fast pace. For being a startup you require the passion, you should be ready to take few risks, need to be focused and you need to do what you know well. Desire of being your own boss and doing innovations attracts people to become a startup.    Many who desire to be a startup, drops out their idea just because they see many hurdles at the first step. Incorporating and commencement of a company, seems very long and hectic procedure. I heard few of them saying that all their passion will end till the company gets ready for doing business. Wake up startups!!! If you are still in the nightmare of starting a company then you should open your eyes and look what we have here for you. No doubt starting a company was very hectic. Remember this was past. Mark my word… today incorporating a company is easy and takes no time. Even earlier, we extended our hand for incorporation through our article Company registration simplified-Now register in 48 hours in India. Ministry of Corporate Affairs (MCA) being supportive for startups has taken many steps to ease them. Laws and Rules that were very stringent earlier are now startups- friendly. Before the changes made we had to take a notepad and write long procedure for incorporation. What after there are changes in this process? Now, you can count the steps on your fingers. You do not believe this. Then you must compare both the procedure i.e., before and after the amendments made by MCA. Before Amendments:

1. Apply DSC
2. Apply DIN
3. Get name approval
4. Prepare MoA, AoA, Affidavit
5. Get a declaration from subscriber
6. Prepare attachments like INC 8, INC 9, INC 10, DIR 2- Get notarized and attested
7. File INC-7, INC-22 and DIR-12 with attachments
8. After this, you will get Certificate of Incorporation (COI)
9. Apply for PAN/ TAN
10. File INC-21 for commencement of business
11. Submit COI and challan of INC-21 for opening Bank Account
12. Start your business

 Now, after amendments follow these few steps:

1. Apply DSC
2. File INC-29 with few attachments
3. Receive Certificate of Incorporation (COI)
4. Apply PAN/ TAN
5. Open Bank Account with COI and acknowledgement of PAN/ TAN
6. Start your business hassle free

You must have noticed that after amendments it is just half of the process we used to follow earlier. Time has gone when incorporation process took around 20 days and with long list of form to file. At that time startups used to get so much confused with the Forms that they gave up in the middle of incorporation. However, in the above list, you will find lesser number of forms. In addition, you can incorporate your company just in 48 hours. If all your papers are in place then 48 hours is enough to get started with your passion. You do not need to hold your temper with complexities of incorporation. In other words we can say, get started with company registration… now or never. This is the right time to enter corporate world. The way to corporate world has been simplified to the extent it can be. The major highlights of easy incorporation may be summed as:

1. INC-29, a consolidated form
2. No notarization and attestation required in INC-10 (attachment in INC-29)
3. Removal of Commencement Form – INC-21
4. No minimum capital requirement

Form INC-29 introduced as a consolidated form for allotment of Director Identification Number, Name of Company and Incorporation of a company. In addition, a separate queue is present at the back office of the MCA for the processing of INC 29. You are also given an option to alter the draft MoA and AoA attached with this e-form later by filing INC 30 & 31. Please note that the regular route for incorporation is still valid. Therefore, startups have the 2 options for incorporation: the regular route and the fast track route. MCA has removed the Commencement Form i.e., INC-21 from the procedural list of incorporation. Removal of this form has undoubtedly shortened the process. Before these changes, startups had to wait for commencement certificate that took maximum time of the whole procedure. Now, as this is no more in our incorporation process thus, time consumed for incorporation has dropped down to a very low level. Not to forget about the capital requirement hurdle that stopped many startups to grow. There were many startups who did not require the minimum capital for their business. However, due to the regulations they had to arrange the extra fund for their incorporation. Failure to this they had to pull back themselves from the path of startup. Considering all these issues, MCA has now, removed the hurdle of minimum capital requirement (Read more at: Start-ups be ready to enter the corporate world.. No minimum capital required to incorporate). So, arrange only for the required fund. Do not take the burden for excess fund. A year back, Narendra Modi showed us dream of economic reforms for startups. These are the major steps to fulfill the dream. These measures have simplified the procedures to a great extent that will surely compel startups to think twice before they fly outside India. The new reform will hold the Indian startups to start their business in India. With such an ease of incorporation, many startups have put forward their step in the direction of incorporation. Do not lack behind, come forward with your passion, Taxmantra is always there for startups. Government has made the path easy; we will put our contribution by making it hassle free for you. You all just need to contact us at info@taxmantra.com or visit us at company registration. __________________________________________________________________________________________