Private Limited Company registration is the most popular legal structure option to start businesses in India. Private Limited Company is the most beneficial & Popular corporate separate legal entity in India. Private limited company registration is governed by provisions the Companies Act, 2013.
To register Private Limited company, Minimum 2 directors and 2 shareholders are required. The directors of a private limited company have limited liability to creditors of company . In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors of company.
It is very important to register your company as Private Limited as a registered company have various advantages from financial and legal compliance point of view.
New Startups prefer private limited company registration as it allows foreign funding to be raised easily.
Private Limited Company Registration can be effectively completed by DhanTax (Business Consultant) in Delhi NCR,Kolkata, Mumbai, Bengaluru, Chennai & Bikaner,Tripura and other Indian cities.
If you want to register your own private limited company then you can consult with DhanTax.
DhanTax expert team will help you with new company formation procedure and Annual Compliance of Company.
You need to fill our simple company registration form and submit documents for formation of a company.
After submitting your documents we will provide you with DSC and DPIN.
Details provided by you will be verified and then we shall apply for name approval.
We will create all the required documents and file them with ROC on your behalf.
Once your company is incorporated, we shall send you all the documents and DSCs.
Separate Legal Entity:- Shareholders & Directors of a company have no personal liability to the creditors of a company for creditor’s debts. Hence, Private Limited company is separate legal entity.
Non-interrupted existence :- Private Limited company is not affected by the death or departure of any directors or any Shareholders but Company continues to be in existence irrespective of the changes in membership. Perpetual succession is one of the most important advantages of a company
Free & Easy transferability of shares:-Shares of company limited by shares are easily transferable by a shareholder to any potential shareholder.
Borrowing Capacity:-A company enjoys better funding for borrowing of funds. Company can issue debentures to debenture holders and take loan from lender as secured loan as well as unsecured loan.
First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.
You need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.
Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement and
It typically takes 15- 25 days to form a Private limited company and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.
Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.
The name of your company is very important. It is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company.
The name should be concise and not be too long. People should be able to pronounce it easily and they should be able to remember your company’s name the first time they hear or read it.
The name of your company should be related to your business. It should fit the company’s branding. For example, Infosys refers to information systems or IT technologies.
Name of your company should not be same or identical to an existing company or trademark. You can go to search.legalraasta.com to check if your company name is identical to others. You should ideally avoid plural version e.g., “Flipkart’s” or changing just letter Case, spacing or punctuation marks in an existing company name.
The name of your company should end with the suffix “Private Ltd” in a case of a Private limited company and “LLP” is a case of a limited liability partnership.
The name of your company should not be against law. It should not be abusive or against the customs and beliefs of any religion.
AOA means Articles of Association. These are the bylaws or rules based on which important matters like main business of the company or meetings is decided. These are standard legal documents prepared by Company Secretaries during registration of the Company.
Capital means investment made by shareholders into the company.
Authorised capital is an amount up to which company can issue shares. Authorised capital is mentioned during incorporation of the company based on which ROC registration fees and stamp duty is paid.
The Authorised capital is mentioned in the Memorandum of Association of the Company under heading of “Capital Clause”. It is even decided prior to incorporation of the Company.
The Authorised capital can be increased at any time in future by following necessary steps as required by law.
Paid up capital is a amount of money received by Company for which Company will issue shares to the shareholders.
Director Identification Number (DIN) is a unique identification number required for a person to become a director of a company. DIN is issued by ROC office (Ministry of Corporate Affairs)
It is similar to a PAN Card number.DIN is to be mentioned in documents while appointing a person as a director of a company.
A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.
Company name is very important part in registration of company. The company name is divided into 3 Parts:
1) Keyword (brand name like TATA or Flipkart)
2) Activity word(i.e. showing nature of business like Software)
3) Business Type word (i.e. Pvt. Ltd. or LLP). For Incorporation of company, the suggested name should not match with existing companies or trademark.
Once the company is formed, it will be valid till it is officially dissolved/surrendered. No renewal or fees is required.
However, every year companies have to do Annual Compliances related with ROC.
DhanTax can incorporate a Private Limited Company within 20-30 days.
The time took also depends on relevant documents provided by the applicant and speed of approvals from government.
To ensure speedy registration, please pick a unique name for the proposed Company and make sure you have all the required documents prior to starting the registration process.
You need to start the company with a minimum capital of Rs. 10,000. However, you need not pay this amount to the bank.
You can also show that the capital has been utilised as the pre-incorporation expenses of the startups e.g, private limited registration expenses.
You can also show this capital has been infused in form of assets such as computers etc.
No, There is no requirement of a proper office.
You can even register your company at your residential address.
It is perfectly legal to start the company at your house.
Previously, I have used multiple offline & online CAs/ Lawyers. but DhanTax clearly provided me the best service with reasonable price and fast. Annual Company compliance service provided to my company is awesome.
They picked up and organised us, to the level that astounded me. Today we are experiencing a 24% growth and world wide coverage. We don’t have stress regarding company legal & Taxation compliance. DhanTax is providing us best services.
I will highly recommend DhanTax for newly startups given its quality support & best Services.
972 total views, 1 views today