NEW DELHI (TIP): Entrepreneurs keen on setting up new enterprises will be able to incorporate one by filing just one form starting May 1 against eight separate forms earlier, as part of the government’s drive to make it easier to do business in the country.
The corporate affairs ministry will from May 1 have an integrated company incorporation form to make compliance and reporting easier and convenient for corporates. “Name availability, allotment of Director Identification Number (DIN), company incorporation and commencement of business will now be possible through a single form,” said a senior ministry official who sought anonymity. The new form, called INC-29, will be available on the MCA website. This is part of the government’s drive to improve India’s ranking on the globally tracked parameter of ease of doing business. This is a priority area for PM Narendra Modi, who has made it a personal mission to improve India’s scores on this parameter.