Explain the following concept:

Simplified Proforma for Incorporating Company Electronically (SPICE)

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As per new rule 38 of Companies (Incorporation) (Fourth Amendment) Rules, only one form like FORM INC-32 (SPICE) needs to be submitted at the time of incorporation.

SPICE is to be filed for applying for:

  • Reservation of Name of Company
  • Incorporation of the new company
  • DIN for Directors
  • PAN and TAN for a new company.
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