In another move to make doing business in India easier, the government on Friday launched the single-form registration for new businesses, reducing red tape in incorporation of businesses from the currently required up to eight forms.
"Versions of e-forms INC-7 and INC-22 are modified w.e.f 1st May 2015. Stakeholders are requested to plan accordingly," the corporate affairs ministry said in a notice on Labour Day.
Entrepreneurs now need to only fill out one form -- INC-29 -- to start a business, which will make compliance and reporting easier.
Currently, even for a single-person company, the forms required include INC-1 for approval of the name of the company, INC-7 for registration of the company along with memorandum of association and articles of association, INC-22 for intimation of registered office, DIR-12 for each director, and separate ones for allotment of director identification number (DIN) and digital signature certificate.
