Register Your Company with Zero Fee in India

Starting a small company or a startup at the lowest price is now a possibility. It is a significant boost to the economic sector of the country. The Ministry of Corporate Affairs, India had amended the Companies Incorporation Rules, 2014, by reducing the company registration fees to zero. This rule was enforced in the year 2019, which states that now the company is liable to pay only stamp duty charges for company registration. It will be the base for rising startups and small businesses in India, which will immensely boost the economy. 

Highlights of the zero fees registration:

The key features of this form of a company are listed below: 

• The company applying for the zero fees registration has to maintain their status of small companies for at least one year. 
• The authorized capital of the company can be up to Rs. 15 lakh.
• The authorized capital for the company cannot be increased over Rs. 15 lakhs. 
• The stamp duty value would not be reduced or eliminated. The duty on MoA and AoA of the companies will be the same as before. 

 Other costs to be paid for Company Registration

The MCA has waived the company registration fees, but there are other charges which have to be paid by the company. The applicant has to pay the following payments: 

• The Director DIN Fees of Rs.500 
• The promoter DSC Fees of Rs.600
• The State Stamp duty charge, which is in the range Rs.200 to Rs.10000.
• Professional fees around Rs.4000 to Rs.15000.
• Other miscellaneous costs between Rs.500 to Rs.2000.

Steps for Free Company registration in India

Provided below are the steps involved in the process of zero fees company registration:

• The fees will be zero, and the capital amount is up to Rs. 15 lakh.
• The procedure to file company name is separate.
• Company name approval is filed without using digital signatures.
• A Reserve Unique Name (RUN) services will be launched.
• DIN is essential for filing the SPICE forms.
• Once the forms are filed with the attached documents, then the registrar investigates the authenticity of the form.
• Then it is set up for any opposition.
• A certificate of registration is issued under the name of the applicant.

The new company owners, especially for small investors, have numerous tasks to handle in small budget. Hence, registering company with zero fee is an excellent idea for small inverters. These legal firms offer efficient and professional service for clients, making them a priority. The legal firms comprise highly experienced legal team for handling the form filing, and they offer the services at very reasonable prices.