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India to reduce time to start business, to launch SPICe+

12
Feb '20
Pic: Shutterstock
Pic: Shutterstock
The Indian ministry of corporate affairs is replacing the existing simplified proforma for incorporating company electronically (SPICe) form with a new web form called SPICe+. The form would save time and cost for starting a business and reduce the number of procedures. It will be applicable to all new company incorporations from February 15 onwards.

The current form, which is used for reservation of name, company incorporation, allotment of director identification number (DIN) and application for permanent account number or tax deduction account number (PAN/TAN), in its new avatar would offer 10 services by three central ministries and departments, the ministry said in a notice on its website.

The online form will have two parts—first for name reservation for new companies and second, for a host of services, including incorporation, DIN allotment, mandatory issue of PAN and TAN, and other tax related regulations. Users may submit both parts together or one after the other.

The new form would offer on-screen filing of data and its real-time validation for a seamless registration.

Fibre2Fashion News Desk (DS)


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