Incorporation cost reduced for Startups

 

The Ministry of Corporate Affairs has brought further Amendments in its Incorporation rules. MCA vide notification dated 29th December 2016 has modified its incorporation rules.

SPICe

 

Major highlights of its notification

 1. Spice Forms are mandatory for incorporation (with upto seven subscribers) from 1st January, 2017.

 2. The Filing Fees has been reduced from Rs 2000 to Rs 500.

 3. Number of re submission has been reduced from three to two.

 4.  Form INC-2 is deprecated

 5. INC-7 shall be used for incorporating Part 1 Companies and companies with more than seven subscribers.

 6. The revised INC-7 shall be made available on the portal for filing purposes with effect from 15th January, 2017.

 

The entire notification can be read notification-29-dec-2016-compaies-incorporation-fifth-amendment-rules-2016

 

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