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Pvt Ltd Company Registration
Pvt Ltd Company Registration is most preferred form of Company Registration in India that offer Limited liability, Separate legal entity and Perpetual succession featureres. If you are planning to start a business in India, I recommend that you register a Pvt Ltd company. It is the most popular form of business entity in India and offers a number of advantages.
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Pvt Ltd Company Registration
A Private Limited Company (Pvt Ltd Company) is a type of business entity that is privately held and owned by a small number of shareholders. It is one of the most popular forms of business entity in India.
A Pvt Ltd Company is a separate legal entity from its directors and shareholders. This means that the company’s assets are protected from the personal liabilities of its directors and shareholders.
The liability of the shareholders of a Pvt Ltd Company is limited to the amount of their investment. This means that if the company goes bankrupt, the shareholders are not personally liable for the company’s debts.
Pvt Ltd Companies are required to register with the Ministry of Corporate Affairs (MCA). The registration process is simple and can be done online. Once a Pvt Ltd Company is incorporated, it is required to comply with certain statutory requirements, such as filing annual returns and holding board meetings.
Requirement for Pvt Ltd Company Registration
- To Incorporate a Pvt Ltd company, you must should have 2 director
- The Name of Company must should be unique and would not resemble to any registered Trademark and Name of Company
- Atleast one director must should be resident of India
- To Incorporate a Private Limited Company. You need to show one registered office.
- To Register a Pvt Ltd company you need to show some capital
Pvt Ltd Company Registration Fees
Basic Package
₹
7,999/-
- Two Digital Signature
- Memorandum of Association
- Articles of Association (AOA)
- COI, e-PAN & TAN
Standard Package
₹
9,999/-
- Basic Package +
- MSME Registration
- Bank A/c opening Support
Premium Package
₹
14,999/-
- Standard Package +
- First Auditor Appointment
- ADT-1 filing
- INC 20A (commencement Filing)
Documents Require for Pvt Ltd Company Registration
Promoter's Documents
- Pan card
- Adhaar card
- Photograph
- Voter ID/ Driving License/ Passport
- Bank Statement/ Utility Bill
Registered Office Documents
- Latest Month Electricity Bill
- No Objection Certificate from owner of Electricity bil
How to Register Private Limited Company
Looking to register your company as a private limited company? Registering your company as a private limited company is difficult as the procedure is complicated and involves many compliances. Do not fear as our experts can help you in every step of the private limited Company Registration. Instead of reading through the entire registration process, you can avail our expert service.
Step 1: Obtain Digital Signature Certificate
Digital signatures are required to file the forms for Company Formation. The registration process is completely online and the forms require a digital signature. DSC is mandatory for all subscribers and witnesses in the Memorandum of Association (MOA) and Articles of Association (AOA).
Step 2: Obtain DIN
DIN is an identification number for a director. It has to be obtained by anyone who wants to be a director in a company. One DIN is enough to be a director in any number of companies. With filing SPICe+, DINs gets issued to the proposed directors who do not have a DIN. Under this process of filing through SPICe+ (INC 32), a maximum of three directors can apply for DIN.
Step 3: Name Availability*
: Reserving the name via Part-A of SPICe+ Form: In an attempt to ease procedures for new as well as existing companies,w.e.f 23 February 2020, the Ministry of Corporate Affairs (MCA) has introduced SPICe+ web service for the incorporation of a company. Part-A of the SPICe+ form allows for ‘name reservation’ with two proposed names and one re-submission (RSUB) while reserving Unique Names for the Companies.
Step 4: Form SPICe+ INC-32
The MCA has introduced Form SPICe+ for the registration of new companies from 23 February 2020. The incorporation under Part-B of the SPICe+ form is also web based and streamlines the incorporation of companies.Upon the name approval, the applicant can click on the link of the approved name (available on the user’s dashboard) and continue to complete the incorporation..
Step 5: e-MOA and e-AOA
e-MoA refers to an electronic Memorandum of Association and eAoA is electronic Articles of Association. These forms have been introduced to simplify the process of Company Registration in India.Memorandum represents the charter of the company while articles of association contain the internal rules and regulations of the company.Earlier memorandum of association and articles of association were required to be filed physically. But now these forms are filed online on MCA portal as a linked form with SPICe+ (INC-32). Both these forms must be digitally signed by subscribers to the Memorandum and Articles of Association.
Step 6: PAN and TAN Application
Through this single form SPICe+, you can also apply for company’s PAN and TAN. The system will auto-generate these forms after the submission of SPICe+ form. The Certificate of Incorporation of PLC is issued with the PAN as allotted by the Income Tax Department after approval of the SPICe+ Form. An email containing the Certificate of Incorporation, PAN and TAN will be sent by the MCA. The Income Tax Department will issue the PAN card.If all the details in the form are duly filled in along with the required documents, MCA will approve the registration and a CIN (Corporate Identity Number) will be allocated. You can also track this CIN online on MCA portal.
Advantages of Private Limited Company Registration in India
Limited liability:
The liability of the shareholders of a Pvt Ltd Company is limited to the amount of their investment. This means that if the company goes bankrupt, the shareholders are not personally liable for the company’s debts.
Separate legal entity:
A Pvt Ltd Company is a separate legal entity from its directors and shareholders. This means that the company’s assets are protected from the personal liabilities of its directors and shareholders.
Increased credibility:
Pvt Ltd Companies are seen as more credible and professional than other forms of business entities, such as sole proprietorships and partnerships. This can help to attract customers, investors, and employees.
Perpetual succession:
A Pvt Ltd Company has perpetual succession, which means that it continues to exist even after the death of its directors or shareholders.
Easy to Transfer:
The ownership of a Pvt Ltd Company can be easily transferred by transferring shares. Ownership transfer is completly online Process.
Schemes & subsidies:
Pvt Ltd Companies are eligible for a number of government schemes and subsidies, such as priority lending from banks & financial institutions.
Private Limited Company Compliances
Once a company is registered in India, various compliances must be maintained from time to time to avoid penalties and prosecution. The following are some of the compliances a company would be required to complete after company registration:
1. Post Incorporation Compliance:
Once Company get registered you need to do certain compliances within stipulated time duration in order to avoid penalty. Here is list of compliances that every newly incorporated company need to do-
- Auditor Appointment: All companies registered in India must appoint a practicing and licensed Chartered Accountant registered with the ICAI within 30 days of incorporation.
Commencement of Business: Within 180 days after incorporation, the business must open a bank current account and deposit the subscription amount specified in the firm’s Memorandum of Association. As a result, if the company is to be formed with a paid-up capital of Rs. 1 lakh, the shareholders must deposit Rs. 1 lakh in the Company’s bank account and file the bank statement with the MCA in order to get a certificate of commencement of business.
Read More about Post Incorporation Compliances >>
2. Annual Compliance:
- MCA Annual Filings: Every Financial year, all companies registered in India must file a copy of their financial statements with the Ministry of Corporate Affairs. If a company is formed between January and March, it can choose to file the first MCA annual return as part of the annual filing for the following financial year. Forms MGT-7 and AOC-4 comprise the MCA yearly return. The Directors and a practicing professional must digitally sign both of these forms.
- Director DIN KYC: Each year, all individuals who hold a Director Identification Number (DIN) – which is assigned during the incorporation process – must complete DIN KYC to authenticate the phone and email address on file with the Ministry of Corporate Affairs.
- Income Tax Return Filing: Each Financial year, all businesses must file an income tax return using Form ITR-6. Income tax returns must be filed on time for each fiscal year, regardless of incorporation date. A company’s income tax return must be digitally signed using one of the Directors’ digital signatures.
Read More about Annual Compliance for Private Limited Company >>
Taxation for Private Limited Companies
The income tax for companies ranges from 15% to 30%, depending on the case. There are two categories of companies as mentioned below.
A. Newly Incorporated Company: A company incorporated on or after 1st October 2019, and that does not claim any other concession, deduction, exemption under the income tax act, the tax rate is as under
| Particulars | Manufacturing Company | Other Company |
| Tax Rate | 15.00% | 22.00% |
| Surcharge | 10% on tax | 10% on tax |
| Cess | 4% on tax & cess | 4% on tax & cess |
| Effective Rate | 17.16% | 25.17% |
B. For other companies: the income tax rate is 25% in case the turnover is less than 400 Crores and 30% in all cases where the turnover is more than 400 Crores. The Surcharge and education cess at applicable rate is charged in addition to the basic income tax rate.
Different forms of Business Registration
