A private limited company is incorporated through the SPICe+ form on the MCA portal. It needs at least two directors and two shareholders, and at least one director must have stayed in India for 182 days or more in the previous calendar year.
SPICe+ combines name reservation, incorporation, DIN, PAN and TAN, and through AGILE-PRO-S also EPFO, ESIC, professional tax and a bank account. The memorandum and articles of association are filed electronically with it.
After incorporation, the company must file a declaration of commencement of business in Form INC-20A within 180 days, after the subscribers have paid for their shares. The first auditor is appointed by the board within 30 days.
Key points
- Minimum two directors and two shareholders; no minimum capital
- DSCs needed for directors and subscribers
- INC-20A within 180 days of incorporation
- First board meeting within 30 days of incorporation
- Statutory audit every year, regardless of turnover
General information only, not professional advice. Section references are to the Income-tax Act, 1961; corresponding provisions of the Income-tax Act, 2025 apply from 1 April 2026. Thresholds and dates may change by notification.
