SPICe+ Form: Step-by-Step Company Registration Process in India

What is SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus)?

SPICe+ is the integrated web form introduced by the Ministry of Corporate Affairs (MCA) for company incorporation in India. Replacing the earlier SPICe form (INC-32), SPICe+ was launched in February 2020 as part of the government's ease of doing business initiative. It consolidates multiple registration processes into a single integrated form, dramatically reducing the time and effort required to start a business in India.

Before SPICe+, entrepreneurs had to apply separately for company incorporation, PAN, TAN, GST registration, EPFO, ESIC, and bank account opening – each requiring different forms, different portals, and different timelines. SPICe+ brings all these under one umbrella, allowing a company to become fully operational within days of incorporation rather than weeks.

The form is divided into two parts – Part A for name reservation and Part B for the actual incorporation – along with linked forms for MOA (INC-33), AOA (INC-34), and AGILE-PRO-S for additional registrations.

Integrated Services Under SPICe+

A single SPICe+ filing provides the following services simultaneously:

• Company Incorporation: Certificate of Incorporation with CIN (Corporate Identity Number)
• DIN Allotment: Director Identification Number for up to 3 directors
• PAN: Permanent Account Number for the company (from Income Tax Department)
• TAN: Tax Deduction and Collection Account Number
• GSTN: Goods and Services Tax Identification Number (application via AGILE-PRO-S)
• EPFO: Employees' Provident Fund Organisation registration
• ESIC: Employees' State Insurance Corporation registration
• Professional Tax Registration: (in applicable states via AGILE-PRO-S)
• Bank Account Opening: Mandate for opening a current account with the selected bank

Part A: Name Reservation

SPICe+ Part A is used exclusively for reserving a company name. You can propose up to 2 names in a single application, and the approved name is reserved for 20 days from the date of approval.

Rules for Choosing a Company Name

• The name must not be identical or too similar to an existing company or LLP name registered with MCA
• It should not violate any trademark registered under the Trade Marks Act, 1999
• Names suggesting government patronage (e.g., "National," "Indian," "Bharat") require prior approval
• The name must not contain words prohibited under the Emblems and Names (Prevention of Improper Use) Act, 1950
• It must end with "Private Limited" (for private companies) or "Limited" (for public companies)
• The name should reflect the main objects of the company

Tips for Getting Name Approved

• Search the MCA database beforehand to check availability
• Search the trademark registry (IP India) to avoid conflicts
• Choose distinctive, coined, or invented words – they have higher approval rates
• Avoid generic or descriptive names (e.g., "Best Services Private Limited")
• Provide a clear significance/meaning for each proposed name in the application
• Keep a backup second name ready in case the first choice is rejected

Part B: Company Incorporation Details

Once the name is approved (or simultaneously if filing Part A and B together), Part B captures all the information needed for actual incorporation:

Company Details

• Type of company (Private/Public/OPC/Section 8/Producer)
• Category and sub-category of the company
• Main division of industrial activity (NIC code)
• Authorized and paid-up share capital
• Registered office address (state and ROC jurisdiction)

Director Details

• Details of all proposed directors (up to 3 can get DIN through SPICe+)
• Existing DIN (if any director already has one)
• Personal information: name, father's name, date of birth, nationality, occupation
• Identity and address proof details
• Declaration of interest in other companies

Capital Structure

• Authorized share capital (determines stamp duty)
• Number and value of equity and preference shares
• Details of subscribers (initial shareholders)
• Number of shares subscribed by each subscriber

INC-33 (MOA) and INC-34 (AOA)

Memorandum of Association (INC-33)

The MOA defines the company's constitution and scope of operations. It contains six mandatory clauses:

• Name Clause: The registered name of the company
• Registered Office Clause: The state in which the registered office is situated
• Objects Clause: The main objects and other objects of the company
• Liability Clause: Statement that liability of members is limited
• Capital Clause: The amount of authorized share capital and its division into shares
• Subscription Clause: Declaration by subscribers to take shares and associate

Articles of Association (INC-34)

The AOA contains the internal rules and regulations for managing the company's affairs. It covers:

• Share capital and variation of rights
• Transfer and transmission of shares
• Board meetings and proceedings
• Appointment, removal, and powers of directors
• Dividends and reserves
• Accounts and audit
• Winding up provisions

Companies can adopt Table F of Schedule I (model articles for a company limited by shares) or draft custom articles tailored to their specific governance needs.

AGILE-PRO-S Form

AGILE-PRO-S (INC-35) is a linked form filed along with SPICe+ Part B that provides additional registrations:

• GSTN: Application for GST registration (temporary GSTIN allotted, permanent after verification)
• EPFO: Registration under the Employees' Provident Funds Act (mandatory if employing 20+ persons)
• ESIC: Registration under the Employees' State Insurance Act (mandatory in notified areas)
• Professional Tax: Registration in states where applicable (Maharashtra, Karnataka, etc.)
• Bank Account: Mandate for opening a current account with a selected bank (DPIIT initiative)

Timeline and Government Fees

Typical Timeline

• DSC procurement: 1-2 working days
• SPICe+ Part A (Name Reservation): 2-3 working days for approval
• SPICe+ Part B (Incorporation): 3-5 working days after submission
• Total timeline: 7-10 working days (with all documents ready)

Government Fees

• Name reservation (Part A): ₹1,000 (resubmission: ₹1,000)
• Incorporation fee: Based on authorized capital – ₹0 for up to ₹15 lakh, scaled fees above
• Stamp duty: Varies by state (e.g., Delhi: 0.15% of authorized capital for MOA + AOA)
• DSC: ₹1,500 – ₹2,500 per director (from certified agencies)
• Professional fees: ₹5,000 – ₹15,000 (if using a CS/CA for filing)

Common Mistakes to Avoid

Based on our experience handling hundreds of incorporations, here are the most common errors that delay the process:

• Incorrect DSC: Using an expired DSC or DSC not linked to the correct PAN/DIN
• Name rejection: Proposing names too similar to existing trademarks or companies without conducting proper searches
• Address proof issues: Utility bill older than 2 months, or NOC not matching the rent agreement details
• Subscriber mismatch: Signatures on INC-33/INC-34 not matching the specimen attached with SPICe+
• Object clause errors: Selecting incorrect NIC codes that don't align with the stated objects in the MOA
• Director DIN issues: Applying for DIN when the director already has one (results in rejection)
• Capital structure confusion: Declaring paid-up capital more than authorized capital
• Incomplete AGILE-PRO-S: Missing bank details or incorrect GSTN information leading to partial processing
• Non-payment of stamp duty: Forgetting to pay state-specific stamp duty, which holds up the certificate

Post-Incorporation Steps

After receiving the Certificate of Incorporation, companies must complete these steps to become fully operational:

• Open bank account: Visit the selected bank with the COI, PAN, and board resolution within 6 months
• File INC-20A: Declaration for commencement of business within 180 days of incorporation (for companies with share capital)
• Appoint statutory auditor: Within 30 days of incorporation by the Board (ratified at first AGM)
• Issue share certificates: Within 60 days of incorporation to all subscribers
• Maintain statutory registers: Set up Register of Members, Register of Directors, Register of Charges, etc.
• Hold first board meeting: Within 30 days of incorporation
• Complete GST registration: Verify and complete the GSTN application (if business requires GST)
• Obtain trade licenses: Municipal/local body licenses as applicable for operating from the registered office
• MSME registration: Register on the Udyam portal if qualifying as Micro, Small, or Medium Enterprise

Conclusion

The SPICe+ form has truly revolutionized company registration in India, compressing what used to be a multi-week, multi-agency process into a streamlined digital experience. With proper preparation of documents, correct name selection, and accurate form filling, a company can be fully incorporated and operational within 10 days.

At Deepa Sharma & Associates, we handle the entire SPICe+ filing process – from name availability search and DSC procurement to form filing and post-incorporation compliance setup. Our experience with hundreds of successful incorporations ensures that your application is processed without unnecessary queries or rejections.

Ready to incorporate your company? Contact us for a hassle-free registration experience.