The Modi government is planning to change the rules of company registration. The central government is soon going to change the system of company registration.
In such a situation, if you are also planning to get the company registered, then this news is very important for you. This new system will replace over 50 form filings from web-based to PDF to transform the compliance and statutory filing architecture for businesses.
In such a situation, now people will not have to fill a 50-page form for the registration of the company. Now they will be able to fill the form easily through the software. The government will start this new system from the next month i.e. December 2022. This new form will cover every reporting requirement of a company including reporting of registered office and details of directors of the company, commencement of business certificate and many more.
Will issue public notice
According to media reports, the company may issue public notice for all new applicants during the change of system of registration. With this, during the transfer of this registration system, the process of registration of the new company will be stopped for some time. At the same time, businesses will be given additional time relief to fulfill their compliance obligations so that they do not face any kind of trouble and can complete their work.
This new system will speed up the registration process, this step of the government will speed up the work of the registration process of the new company. In the earlier system, all the work was done manually, due to which the registration of the company took a long time and there were chances of many filing errors. The government is taking the help of IT to speed up this new system.
Government to take help of IT
Revised version of company filing with web-based forms by government likely to employ new IT tools to improve user experience and streamline regulatory oversight of businesses Enables detection of governance irregularities as well as financial stress in the corporate sector.
