Yes, it is true that you can now form a company in India within two working days and that too if already you are having Digital Signatures (as these takes 1-2 working days time to form) with you. This is the another step of the Indian Government to make its Make In India Campaign a huge success and to score out its position in the world bank ranking of ease of doing business in India.
The introduction of INC 29 Form is not only a combination of five forms into one form but also a step which eases out the formation of company in India. This form includes DIN allotment to Directors, name reservation of company, Incorporation, Pan and Tan application.
The government said that with this form entrepreneurs can incorporate a company within 48 hours and the claim is 60-70% correct as far as our experience counts and as if you are as an entrepreneur/startup looking to incorporate a company then this news would be more viable for you but the harsh reality is something different.
There is no doubt that our government has done a far better thing to shorten the company incorporation process. But what happen if some things are left by the Government while making this form and what should government do in order to make India come in top 50 countries in order of ease of doing business.