, New Start your company rules launched by Ministry in India (Pros) and (Cons) ~ CS GAURAV SHARMA

January 26, 2018

New Start your company rules launched by Ministry in India (Pros) and (Cons)


CONS:-
1. ONLY 1 NAME IS ALLOWED

2. NO RE SUBMISSION OPPORTUNITY

3. FEE OF 1000 FOR EACH SUBMISSION

4. IN CASE OF INC-1; 12 NAMES CAN BE SUBMITTED SINCE ONE RESUBMISSION WAS ALLOWED WITHIN A FEE OF 1000

5. PROBABILITY OF NAME REJECTION WILL INCREASE  WHICH LEADS TO MULTIPLE SUBMISSION THROUGH RUN SERVICES WITH A FEE OF 1000 EACH TIME

6. STAMP DUTY IS NOT EXEMPTED & IS REQUIRED TO BE PAID AS PER THE CAPITAL

7. JURISDICTION OF SPICE FORM AFTER NAME APPROVAL WILL BE IN THE HANDS OF ROC WHERE THE  REGISTERED OFFICE OF THE CO. IS PROPOSED TO BE SITUATED


PROS:-
1. NO DIN IS REQUIRED

2. NO PRIOR DSC IS REQUIRED

3. INC-32 FEE INCLUDING THE REGISTRATION FEE FOR SMALL CO. & OTHER CO. IS NIL UPTO A CAPITAL OF 10 LACS

4. THIS WILL LEAD TO A SMALL COST REDUCTION OF 2800 FOR SMALL CO. AND WILL BE COMPENSATE VIA RESUBMISSION(S) IN RUN SERVICES; IF IT TAKES MULTIPLE SUBMISSION FOR APPROVAL OF NAME


5. BIG COST REDUCTION OF 36000 FOR INCORPORATION OF  NON SMALL CO. UP TO 10 LACS CAPITAL




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