Private Limited Company

Private Limited Company

699924499

Registering a company is very simple through Taxology. A minimum of two people are required to act as directors and shareholders. The director’s PAN card, address proof and bank statement are required along with address proof of the registered office.

Clear

Description

Online Company Registration in India
heading

Company Registration Number - Online Incorporation Application Procedure, Document Submission, Auditor appointment, Benefits & Compliance.

How does one register a private limited company?

Registering a company is very simple through Taxology. A minimum of two people are required to act as directors and shareholders.

The director’s PAN card, address proof and bank statement are required along with address proof of the registered office.

How long does it take to register a private limited company?

On an average, the registrations get done within 10 to 15 days.

The processing time would vary depending on the time taken by our clients to submit the necessary documents and government processing time.

How will the company incorporation certificate be provided?
heading

Company incorporation certificate is provided as a pdf document by the Ministry of Corporate Affairs (MCA). MCA only provides soft copy of the incorporation certificate.

Private Limited Company is the most popular type of business entity in India. Lakhs companies have been registered in India as of June 2021 and 12 lakhs companies are classified as active. All companies registered in India are governed by the MCA (Ministry of Corporate Affairs) under the Companies Act, 2013.

Taxology helps register hundreds of companies across India. The company registration process can be completed online on Taxology in less than 10 days with assistance from experienced incorporation experts.

Entrepreneurs register a company in India to create a business that is well regarded by customers, suppliers, bankers and the Government. By setting up a company, an Entrepreneur has the ability to create a small or large business that can easily raise capital and scale seamlessly to any size.

The ownership of a company is represented by shares. Thus, the ownership of a company can be shared or transferred to any other Indian or Foreign legal entity or person. The directors of a company are also easily replaceable. Hence, on a company allows an Entrepreneur to easily raise capital and transfer ownership without any hassles.

A private limited company provides limited liability protection to its shareholders. In case of any unforeseen losses, statutory or legal liabilities, the shareholders of the company will not be held responsible. Only the Directors of a private limited company are held responsible in most instances for various statutory liabilities.

A company can raise equity capital from persons or entities interested in becoming a shareholder. Entrepreneurs can raise money from angel investors, venture capital firms, private equity firms and hedge funds. A company can also raise debt financing from banks, financial institutions and NBFCs easily.

A private limited company is recognized as a separate entity with a dedicated PAN. Using the PAN and incorporation certificate of the company, an Entrepreneur can within days open a current account in any bank.

A Step-by-Step Guide to Company Registration Process
heading

Taxology can incorporate a company in less than ten working days, subject to government processing times, approvals and availability of all documents.
  • Collection of information and documents for company registration from client
  • Application submitted for digital signatures to eMudhra
  • Name approval request submitted to MCA (Run Form)
  • Incorporation documents drafted based on the MCA approved name
  • Signing of incorporation documents by all Directors & Shareholders
  • Submission of incorporation documents to MCA for approval
  • Company incorporated with incorporation certificate & PAN
  • Other process or services begin as per customer requirement

Documents required for Company Registration
heading

To register a company, various documents are to be submitted to the MCA as follows:

PAN Card: PAN Card copy of the proposed Directors of the Company will be required for Company Registration.

Address Proof: The address proof submitted must have the name of the Director as mentioned in the PAN Card and the most current address of the Director.

Residential Proof: The residential proof must also contain the name of the Director as mentioned in the PAN Card and must not be older than two months.

Registered Office Proof: In addition to providing identity, address and residential address for the Directors, proof must be provided to validate the registered office address of the Company.

  • The registered document of the title of the premises of the registered office in the name of the company; OR
  • The notarized copy of lease / rent agreement in the name of the company along with a copy of rent paid receipt not older than one month;

In addition to the above, the following must also be provided as proof of registered office:

  • The authorization from the Landlord (Name mentioned in the Electricity Bill or Gas Bill or Water Bill or Property Tax Receipt or Sale Deed) to use the premises by the company as its registered office. This is usually referred to as NOC from Landlord; AND
  • Proof of evidence of any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which is not older than two months

PROCEDURE OF PRIVATE COMPANY REGISTRATION
heading

1- Document submission

Identify the 2 directors and submit their documents as given to the below.
  • Identity Proof- PAN (Indian Nationals ) or Passport (Foreign nationals)
  • Proof of Address- Passport / Drivers License / Election ID / Ration Card / Aadhar ID
  • Proof of residence- Bank Statement / Electricity Bill / Phone Bill

2- Name Approval

The proposed name is applied and obtained from the Ministry of Corporate Affairs. Upto 2 names can be provided. In case of rejection of both names, an opportunity is provided for re-submission of the form with 2 more names.

3- Digital Signature

Digital signatures must be obtained for the proposed directors of the company. Digital signature is required for signing of the incorporation application. However, digital signature is not required for obtaining the name approval.

4- SPICe+ form application

On obtaining the digital signature, the incorporation application can be submitted in the SPICe form with the MCA. There is no requirement for obtaining the RUN name approval for submission of SPICe Form.

5- Company Incorporation

Company is incorporated along with the incorporation certificate, PAN ,TAN  and GST registration within 2-3 business days.

Company Compliance
heading

All companies registered in India are required to adhereto compliance under various regulations. Failure to maintain compliance can lead to penalty or disqualification of the directors.

Taxology can help you with accounting and maintaining of statutory compliances for the company at a very affordable price.

Some of the important compliances for companies registered in India are given below. Please note that additional forms will also be applicable as per government notification.

Other than these mandatory compliances, there are others that need to be done depending on the company’s timeline. Taxology also assists in increasing authorised capital, changing registered office, change in directors and others.

Company Compliance
heading

1- Statutory Auditor appointment

30 days of Incorporation

The board of directors must appoint a practising Chartered Accountant within 30 days of incorporation.

2- Commencement of Business

180 days of Incorporation

The capital mentioned in the MOA [Memorandum of Association] must be deposited in a bank and commencement certificate must be obtained from MCA.

3- Income Tax Filing

30th September

Companies registered in India must file income tax return each year in Form ITR-6.

4- Annual Return

31st October

Companies registered in India must file MCA annual return each year in forms AOC-4 and MGT-7.

5- DIN KYC

30th April

The DIN KYC procedure must be completed each year for the directors of the company.

Private Limited Company Plans
heading

All Inclusive Pricing – No Hidden Fee

Basic
Rs.6999 All Inclusive Fees
  • Company registration with 2 DSC
  • 2 Director Identification Numbers
  • Memorandum of Association
  • Articles of Association
  • All related government fee & stamp duty*
  • PAN, TAN, ESI & PF registration
  • Bank account opening
BUY NOW
Standard
Rs.16499 All Inclusive Fees
  • Company registration with 2 DSC
  • 2 Director Identification Numbers
  • Memorandum of Association
  • Articles of Association
  • All related government fee & stamp duty*
  • PAN, TAN, ESI & PF registration
  • Bank account opening
  • GST registration
  • Auditor Appointment Support
  • Bookkeeping support for 1 Year
  • Financial statements & Board reports
  • ITR-6 filing for a Company
  • MGT-7 & AOC-4 Filing
  • MCA DIN eKYC filing for Directors
BUY NOW
Premium
Rs.24499 All Inclusive Fees
  • Company registration with 2 DSC
  • 2 Director Identification Numbers
  • Memorandum of Association
  • Articles of Association
  • All related government fee & stamp duty*
  • PAN, TAN, ESI & PF registration
  • Bank account opening
  • GST registration
  • Auditor Appointment Support
  • Bookkeeping support for 1 Year
  • Financial statements & Board reports
  • ITR-6 filing for a Company
  • MGT-7 & AOC-4 Filing
  • MCA DIN eKYC filing for Directors
  • 1 year of GST Return filing
BUY NOW

General questions
heading

Authorised capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorised capital can be increased any time after incorporation to issue additional shares to the shareholders.

Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.

GST registration is mandatory for certain businesses. Companies dealing with e-commerce operations or any other interstate activity and companies with turnover of more than Rs. 40 Lakhs are required to obtain the same. GST registration takes just 3-5 working days with Taxology.

A company is required to maintain certain compliances once it is incorporated. An auditor needs to be appointed within 30 days and income tax filing and annual return filing needs to be done every year. Apart from these, mandatory compliances like ‘Commencement of Business’ forms, and DIN eKYC also needs to be done.

Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, the liability of the shareholders with respect to the company’s liabilities is limited.

Reviews

There are no reviews yet.

Be the first to review “Private Limited Company”

Your email address will not be published. Required fields are marked *