To promote the ease of business among the members, the Professional Development Committee of ICAI has introduced a facility to the Members, who are having Full-time COP to register their Proprietorship Firm online within 24 Hours.
This facility is not for registration of partnership firms. So registration of partnership firms needs to follow the conventional procedure.
I am writing this article only after using this facility and I must say that I am really satisfied as well as impressed by the level of convenience this facility has bought to the procedure of getting the firm registered. This article is meant to express my gratitude towards the members could understand the difficulty faced and took this initiative to help the young professionals to establish their proprietorship firm, saving a lot of efforts and time. Hope that maximum number of members can benefit the most out of it.
This facility is for only those members who are active as per Institute records and having Full-time Certificate of Practice as on date while applying the firm through this facility. Based on member name system will generate all the combination of Firm name available in ICAI as per Regulation 190 guidelines. Member has to select any one name generated by the system, rest all the details like address and other things will be auto fill by the system. Member has the option to update their details where they wish to register the new Proprietorship Firm. If member wants some different name (other than the system generated) then they need to use the conventional method of Firm Name Approval and the Registration.
The procedure is as follows:
1. Sign in to the member's column in https://sdb.icai.org/member/defaul.aspx using the membership number and date of birth and then create a password.
2. Login using the membership number as user id and password generated in Step 1 above.
3. Then scanned copy of one passport size photo and member's signature needs to be attached as per the file size specification mentioned in the first page after login, in order to complete the profile.
3. Then the page shall open various online facilities like Duplicate Membership Card, Duplicate COP, Change of Address and email id, etc. Out of this one option would be Registration for Firm within 24 hours. We can click on this and proceed with the registration. I suggest clicking on "view instructions" and reading it carefully before proceeding with the registration process to achieve successful firm registration in a single go.
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