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« ICAI »
 Group to look into the intricacies involvced in areas pertaining to the Disciplinary Mechanism
 Exposure Draft of Amendments to Ind AS 101, First-time Adoption of Indian Accounting Standards
  Requirements for passing Information Systems Audit (Assessment Test)
  Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
 Reconstitution of Group to study the existing norms for the appointments/re-appointments of statutory / internal auditors
 Reconstitution of Group to study and suggest changes in the Guidelines relating to Networking of CA Firms
 Reconstitution of Group pursuant to C&AG’s Report `Performance Audit on Appreciation of Third Party (Chartered Accountants) - Reporting in Assessment Proceedings’ for the year ended March, 2014
 Reconstitution of Group to look into the intricacies involved in areas pertaining to the disciplinary mechanism
 Reconstitution of Group to suggest ways and means for augmenting the income of Chartered Accountants Benevolent Fund

Ease of Doing Business/Use of INC - 29 for Formation of Company.
August, 10th 2015

For ease of doing business, Ministry of Corporate Affairs has introduced a simplified Incorporation Form-INC-29. The form offers a number of advantages over traditional incorporation forms in terms of reduced number of procedures, time taken and the cost involved in getting approval. With this integrated single form, a company can be registered in India, get allotment of Director Identification Number, name availability, incorporation of company and commencement of business. This form can also generate PAN and TAN.

Instead of 8 different forms earlier, now with one single form, setting up of new business would be easier and convenient. 

The relevant notifications for these are available on the MCA website www.mca.gov.in 

Further, the mandatory requirement of having a common seal has also been done away with the amendment in the Act vide Companies (Amendment) Act 2015 applicable from 29th May 2015. Therefore, the members are requested not to insist on such a non-mandatory requirement. If required, the members may advise the companies to amend the Articles of Association to do away with the requirement of having a common seal, if the company so desire. 

5th August, 2015

(V. Sagar)
Secretary, IC
 
 
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