PRIVATE LIMITED COMPANY REGISTRATION

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PRIVATE LIMITED COMPANY REGISTRATION

Private Limited Company Registration

Most popular form of business in India is Private Limited Company which is governed by Ministry of Corporate Affairs. When private ownership is used to form a business entity, that entity is called private limited company. Private Limited Company can have minimum 2 directors but up to maximum 15 directors. Minimum number of shareholders in private limited company is 2 which can be extended up to maximum 200. There are no restrictions on foreign nationals to be directors or shareholders in private limited company. Most of the startups and growing businesses prefer to register private limited company so that they can easily raise funds from investors.

Why Choose Private Limited Company?

Separate Legal Entity i.e. Company and members are considered as separate person.
Perpetual Succession i.e. business will survive forever even after disability of the directors or shareholders.
Limited Liability i.e. only company asset will be disposed off in case of repayment of liabilities. Personal assets of director or shareholders will not be held liable to set off the liabilities.
High Credibility i.e. Annual statutory audit is mandatory in case of company.
Easy to register and manage the company.
Easy to wind up.
Easy to transfer and distribute the share of company.
Always attract the investors, banks, NBFCs for fund raising.

How we work

1. Complete our simple questionnaire Form
Click HERE. You are required to fill all your details in questionnaire form.
2. Get a Call from us
Our Authorized Representative will call you and explain the full process.
3. Submission of Documents
You need to submit relevant documents (list provided by us)
4. Digital Signature
Apply for Digital Signature (DSC) and Director Identification Number (DIN)
5. Name Approval
After obtaining DSC and DIN, Apply for Private Company Name approval and verification
6. Drafting and filing of documents
Drafting and filing of documents (MOA and AOA etc.) for incorporation with ROC and also apply for PAN and TAN
7. Congratulations
After incorporation of company, we will provide you Certificate of Incorporation and Digital Signatures along with PAN and TAN

Frequently Asked Questions

What are the minimum Requirements for Private Limited Company?

Must have minimum 2 directors.
Must have minimum 2 shareholders.
At least one director must be resident of India.
Minimum Rs. 1 Lakh Capital Required.
Unique Name of the Company.
Digital signatures and DINs for all the directors.

Note: As per Companies Amendment Act 2015, there is no minimum requirement of paid-up capital of the company. Therefore minimum requirement of Rs. 1 lakh has been removed and now company can be registered with even Rs. 1000 as capital.

Factors to be considered while choosing a company name?

Name should not be offensive or illegal.
Must contain the word “Private Limited” at the end of the name.
Should not be similar or identical to an existing company, business or trademark.
Name of the company should be suggestive about the business.

Some other guidelines for picking up a name of the company are also issued by MCA.

Difference between authorized share capital and paid up share capital?

Authorized share Capital: It is the maximum amount of shares which can be issued by a company to its shareholders.

Paid-up Share Capital: It is the actual amount of capital for which the company has issued shares to the shareholders and payment has been received by the company.

What is Memorandum of Association (MOA) and Article of Association (AOA)?

MOA of the company is a legal document which contains all the fundamental objectives, aims and scope of powers of the company. AOA of the company describes all the rules and procedures to regulate the internal affairs of the company.

What are the compliance requirement for Private Limited Company?

Post Incorporation and Regular Compliances:
The company is required to fulfill the below requirements once after registration-

PAN and TAN Application
Bank Account
Within 180 days of incorporation, Capital amount must be deposited in bank account and certificate of commencement of business must be obtained from ministry of corporate affairs (MCA).
ESI registration is mandatory by law if the company has more than 10 employees.
GST registration subject to Minimum threshold Limit for GST registration
TDS Returns are to be filed quarterly if the company deducts TDS.
GST returns are to be filed regularly if GST registration has been obtained.

Annual Compliances:
The company is required to fulfill the below requirement annually irrespective of the fact whether the company has started its operations or not-

1. Minimum 4 Board Meetings and 1 annual general meeting as prescribed by Companies Act 2013
2. Maintain Proper Books of Accounts
3. Appointment of Auditor
4. Statutory Audit by a practicing chartered accountant
5. Income Tax Return
6. Annual Filings (Form AOC-4 for Financial Statement and Form MGT-7 for Annual Return) to Registrar of Companies.
7. DIN KYC procedure for all the directors every year

However Tax audit may be applicable on the basis of turnover and other criteria specified by Income Tax Department.

PRIVATE LIMITED COMPANY REGISTRATION