Now register your company in a day in India

The Ministry of Corporate Affairs is rooting for a change in the process of registering companies in India, and if successful, would reduce the time to reserve the name of company to half a day, while taking one third of a day to incorporate a company.

In February, it took two days to incorporate a company while the time was reduced to one day in March, indicating the speed at which the ministry is working.

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The new rules implemented for speedy incorporation includes as many as 26 rules being automated, five procedures mixed into one and deletion of several rules, so that the number of companies incorporated can be increased.

It was after MCA tied-up with the Central Board of Direct Taxes in February 2017 that over 20,000 companies received their Certificates of Incorporation within a day, while also getting their hands on other important documents like the Corporate Identity Number (CIN), Permanent Account Number (PAN) and Tax Deduction Account Number (TAN).

(Image source Clip Art Fest)