The Power of MCA's New e-form AGILE-PRO-S: Simplifying Business Registrations
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In today's fast-paced business landscape, efficiency is key. The Ministry of Corporate Affairs (MCA) recognized this need and took a significant step forward with the introduction of the Companies (Incorporation) Fourth Amendment Rules, 2021. Among the changes introduced is the new e-form AGILE-PRO-S (Form INC-35), which promises to streamline the process of business registration in India.
Understanding the Companies (Incorporation) Fourth Amendment Rules, 2021
The Evolution of AGILE-PRO to AGILE-PRO-S
The Companies (Incorporation) Fourth Amendment Rules, 2021, mark a pivotal moment in the journey of business incorporation in India. One of the notable changes brought about by these rules is the replacement of AGILE-PRO with AGILE-PRO-S (Form INC-35) in Rule 38A of the Companies (Incorporation) Rules, 2014.
Inclusion of Shops and Establishment Registration
With the introduction of AGILE-PRO-S, the scope of services has been expanded to include Shops and Establishment Registration. This means that companies can now complete the registration process for GST, EPFO, ESIC, Professional tax, opening of bank accounts, and Shops and Establishment Registration in one go.
Notification by the MCA
The MCA issued a notification on the Companies (Incorporation) Fourth Amendment Rules, 2021, detailing the changes and providing guidelines for compliance. This notification serves as a crucial reference point for businesses navigating the new regulations.
Exploring the New e-form AGILE-PRO-S
Key Features
The new e-form AGILE-PRO-S serves as an all-in-one solution for various registrations required by newly incorporated companies. From GSTIN to Shops and Establishment Registration, this form covers it all.
Mandatory Requirement for SPICe+ Companies
All companies incorporated through SPICe+ since February 23, 2020, are required to use the AGILE-PRO-S form for opening their bank accounts. This ensures uniformity and efficiency in the registration process.
Compliance with Rule 38A
The filing of AGILE-PRO-S is governed by Rule 38A of the Companies (Incorporation) Rules, 2014. This rule outlines the procedures for applying for various registrations, including GSTIN, EPFO, ESIC, Profession Tax, opening of bank accounts, and Shops and Establishment Registration.
Navigating the Process
Documents Required
To file the AGILE-PRO-S form, companies need to provide proof of their principal place of business, along with other supporting documents such as property tax receipts, rental agreements, and proof of identity/address of authorized signatories.
Step-by-Step Procedure
Filing the e-form AGILE-PRO-S involves several steps, including accessing the MCA portal, filling in details related to business activities, uploading mandatory documents, digitally signing the form, and submitting it for processing.
Applicable Fees
No fees are required for filing the AGILE-PRO-S form, making it a cost-effective solution for newly incorporated companies.
FAQs (Frequently Asked Questions)
Who needs to file the AGILE-PRO-S form?
The form is mandatory for companies incorporated through SPICe+.
What services are covered under AGILE-PRO-S?
GSTIN, EPFO, ESIC, Profession Tax, opening of bank accounts, and Shops and Establishment Registration.
Are there any fees associated with filing the form?
No, the filing of AGILE-PRO-S is free of charge.
What documents are required for filing AGILE-PRO-S?
Documents such as proof of principal place of business, property tax receipts, and rental agreements are required.
Can existing companies avail of AGILE-PRO-S?
No, the form is applicable only to newly incorporated companies through SPICe+.
What is the purpose of digitally signing the form?
Digital signatures ensure the authenticity and integrity of the submitted documents.
Is AGILE-PRO-S compatible with all web browsers?
Yes, the form can be accessed and filled using any standard web browser.
How long does it take to process the AGILE-PRO-S form?
Processing times may vary but typically take a few days.
Can the AGILE-PRO-S form be submitted offline?
No, the form must be filed electronically through the MCA portal.
What happens after the form is submitted?
The form is processed by the Registrar of Companies, and upon approval, the requested registrations are issued.
Conclusion
The introduction of the new e-form AGILE-PRO-S represents a significant leap forward in the realm of business registration in India. By consolidating multiple registrations into a single form, the MCA has simplified the process for entrepreneurs and promoted ease of doing business in the country.