Its Republic Day gift to New startups
Ministry of Corporate Affairs has completely made fees charged by the central government for the new private limited company almost zero.
The only limitations are the company-authorized capital should not exceed Rs. 10,00,000.
Only state government stamp duty should be paid for new private limited company registration.
Fees for MOA, AOA, and Spice are completely waived.
Estimated company registration costs other than professional fees.
1. Stamp papers charges – Rs. 100 (Tamil Nadu)
2. Notary Charges – Rs. 500.
3. Stamp Duty – Rs.520 (Tamil Nadu).
4. Digital Signatures for two directors – 1200 / Director.
Another welcoming move is the RUN service for company name approval, there is no need to upload forms and add a digital signature.
This move was towards significant steps to rank India in the top 50 countries in ease of doing business.
Already MCA had reached a milestone of NEW private limited company registration in one day with pan and TAN.