Private Limited Company Registration

With the expanding global economy and technological advancements, registering your company has never been this easy! Save time, energy and money.

  • Two DSC & up to two DINs

    The partners must be registered with the MCA

  • Name Reservation

    We will then help you pick a unique name

  • Company Agreement

    We will draft your company's constitution

  • Company PAN & TAN

    We will send in a request to the NSDL


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How to Register Private Limited Company Registration?


Get your Private Company Registration like an arrow from the bow.

Getting your Private Company Registration following all the taxation laws and policies is no longer walking in old boots. Yes, you don’t have to stand in the long queue or to loosen your pocket in the registered office or even in the Income-tax department to pass one file for company registration. The government has eased the road by introducing an online portal for company registration and Income tax filing.

Private Limited Company Registration


With the expanding global economy and technological advancements, undoubtedly company registration has become so easy! Save time, energy and money by reading through our complete guide on how to get Private Limited Company Registration with just one click – but before we can move on to the procedure of the company registration, it’s important to understand what is a private limited company registration and what does company registration entail.

So, Private Limited Company Registration is one of the popular forms company registration due to its loaded advantages both in legal and corporate. It’s is the most profitable way to establish your business in the economic scenario. It requires a minimum of 2 directors and 2 shareholders in order to get Private Limited Company Registration. Due to limited liability, the shareholders can protect their personal assets if the company gets bogged into any financial crisis and demands to clear off the debt. At that point in time, the creditors or the bank can only attach the assets of the company to pay the debt the personal belongings of shareholders will be spared.

Private Limited Company registration is regulated by the Companies Act of 2013 under the hand of the Ministry of Corporate Affair.  In Private Limited Company shareholder can act as a director and vice versa. However, if a corporate legal structure is involved, only the status of a shareholder can be granted. This form is recommended for small or medium-sized businesses that are either run by professionals or owned and managed by families.

How to get Private Limited Company Registration in India?


The following is the private limited company registration procedure-

  • Apply for Digital Signature Certificate which is required to file the forms of company registration. The Procedure to register a company is online and requires DSC.
  • Obtain Director Identification Number as early as possible. You can file your DIN within the SPICe form up to three directors. Or you can just choose not to do any work and can do this only contacting us.
  • Get your name approval by filing RUN from. RUN stands for Reserve Unique name. You can file your name with the prescribed fees.
  • File the Incorporation form i.e. SPICe form on Ministry of Corporate Affair. No ROC fees for incorporation of Company up to the rupees 10 lack of authorized capital is required.
  • File the necessary documents like MoA, AoA, Identity Proof, Address proof, Pan and Tan to go for Private limited company registration.

Documents Required for Private Limited Company Registration


The Private Limited Company Registration process has to be completed online and does not require the physical presence of the directors or shareholders; however, identity and address proof will be required. First three documents to be self-attested by any one director. All documents should be updated, valid, and notarized/apostilled depending on country and, the company must have a registered office in India. Shareholders and directors must submit scanned copies of the following:

  • PAN Card/Passport.
  • Voter’s ID/Driver’s License/Passport.
  • Bank Statement.
  • Passport-sized picture
  • Blank document with the signature of directors only.
  • Utility Bill (either gas or electricity) or Mobile/Telephone Bill.

Note:To register your office, submit scanned copies of the following. Remember, however, that the office can also be the residence of any director.

  • Bank Statement/Utility Bills (gas/electricity) or Telephone/Mobile Bill.
  • Rental agreement that is in English and notarized.
  • No-objection certificate from the owner of the property.
  • Sale Deed or Property Deed in case the property is owned by a director.

Compliances under Private Company Registration


The compliances for Private Limited Company registration are similar to other company registration compliances. The following are the compliances under private company registration

  • Appointment of Auditor - the very first compliance you need to implement is to appoint the auditor in your company right after the private company registration.
  • Annual ROC filing

    a) Annual Returns- the company needs to file the annual returns every last date of September 2018. i.e. 30th December 2018

    b) Financial statement – the company will file the financial statement on every last date of September i.e. 30th December 2018. The financial statement includes the following are-

    • Annual General Meeting
    • Board Meetings
    • Reports of Director
  • Annual General Meeting – the company needs to commence every year an annual general meeting as a mandatory compliance.
  • Board Meeting – the company needs to arrange the board meeting every year in which the major concerned related to the company will be discussed.
  • Reports of director – every year the director will file a report of the director which also known as Director’s Report in the board meeting.
  • Income Tax Report – all private company registered in India are required to file the income tax return in Form ITR 6 or ITR 7. The private company registration needs to follow the taxation policy which is as follows-
  • Private limited company with a total turnover of up to Rs 50 crores during the previous year are taxed at 25% of the total income.
  • Private limited company with a total turnover of more than Rs 50 crores during the previous year are taxed at 30% of the total income.

    In additions to the Income-tax, the private limited company also has to pay income tax surcharge, education cess, and secondary and higher education cess.

  • Maintenance of records, statutory registers etc.
  • And any other compliances directed by the Register of Office.

Advantages of Private Limited Company Registration


The following are the advantages of the private limited company registration

  • Liability is limited – this offers protection to the personal property of the directors in case of financial crisis. The debt will be paid b the finances of the firm not by selling the assets of those involved.
  • Considered a separate legal body – allows the company to operate with a multitude of legal powers.
  • Taking a loan is easy as compared to LLP and OPC.
  • Easy to raise equity funds.
  • Perpetual succession allows the company to exist until dissolved by legal action.
  • Unaffected by demise or departure of any member.
  • Transferability of shares is easy and flexible.
  • One shareholder cannot force a claim over the property owned by company.

Disadvantages of Private Limited Company Registration


The following are the disadvantage of the private limited company registration

  • Set-up costs are comparatively high as compared to LLP and a partnership firm.
  • High statutory compliance.
  • Power and decision-making is shared between the different directors.
  • Shares cannot be transferred without prior agreement.

Conclusion


Hence, we have tried to arrange each thread of the private company registration in this article. Hope you enjoyed it and will come back as a trusted audience to read our next article.

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