SPICe+

What it means

SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) is the integrated web form on the MCA portal used to incorporate a company in India. In one application it reserves the company name, incorporates the company, allots Director Identification Numbers (DIN) and obtains PAN and TAN. Through the linked AGILE-PRO-S form it also registers the company with EPFO and ESIC, opens a bank account, and where applicable gives GSTIN and state registrations such as professional tax.

How it works

The form has two parts.

• Part A: name reservation. You can propose up to two names. Part A can be filed on its own first, or together with Part B.

• Part B: incorporation details, such as registered office, capital, directors, subscribers and their shareholding, and declarations.

• Linked forms filed with it: e-MOA (INC-33), e-AOA (INC-34), AGILE-PRO-S (INC-35) and, where needed, INC-9 declarations.

• All directors and subscribers need a Digital Signature Certificate (DSC). DIN can be allotted for up to three directors through the form.

• No MCA filing fee is payable for companies with authorised capital up to ₹15 lakh. State stamp duty on the MOA and AOA is still payable and varies by state.

• On approval, the Certificate of Incorporation is issued with the CIN, PAN and TAN.

Example

Two friends in Pune want to start a private limited company with authorised capital of ₹10,00,000 and paid-up capital of ₹1,00,000, held 50:50.

1. Get DSCs for both directors: around ₹1,500 each, so about ₹3,000.

2. File SPICe+ Part A for name approval, with a fee of ₹1,000 if filed separately.

3. File Part B with e-MOA, e-AOA and AGILE-PRO-S. MCA fee is nil because authorised capital is within ₹15 lakh.

4. Pay Maharashtra stamp duty on the MOA and AOA, as computed by the system.

5. After incorporation, each director deposits ₹50,000 into the new bank account as share capital, and the company files INC-20A (commencement of business) within 180 days.

Key points to remember

• A reserved name is valid for only 20 days, so keep Part B documents ready.

• Use a recent utility bill and an NOC from the owner for the registered office address.

• Opening a bank account through AGILE-PRO-S is mandatory.

• Filing INC-20A late attracts penalties and can lead to strike off.

• Name rejection is common for names similar to existing companies or trademarks, so check first.