Private Limited Company
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Private Limited Company
Private Limited Company is one of the popular forms of business entities in India. Approximately 90% of companies in India are registered under Private Limited Company. There are more than 150,000 companies are being registered on yearly basis. It is a separate legal entity with limited liability and perpetual existence incorporated now under the Companies Act, 2013.
In technical terms, a private limited company is a privately owned and operated business by small and medium-sized businesses. The company’s liability is limited to its shareholdings; the number of shareholders is restricted to 200; and the company’s directors and shareholders can be the same person or different.
It’s a type of business formation that gives companies a legal identity separate from their owners, directors, and shareholders. As a result, essential services such as the ability to contract in the company’s name and the protection of the owner’s personal assets from company responsibilities are made available.
Requirements to Start a Private Limited Company
Minimum Two Person
At least two people should be the founding shareholders and directors of your company. There might be up to 200 shareholders and 15 directors in the company. A director and a shareholder can both be the same individual.
Resident Director
One of the company’s directors should be based in India. When a person spends more than 120 days in India during the previous fiscal year, he or she is referred to as a Resident Indian. For this purpose, citizenship is irrelevant.
Registered Address
You must produce proof of Registered Office as well as a letter of authorization from the firm’s owner in order to register the company. In the event of difficulty, you may register a company using a communication address; nevertheless, the firm must have its registered address within 60 days.
Capital Requirement
Invest according to the needs of the firm; there are no minimum or maximum capital requirements. The ROC Fee and Stamp Duty, on the other hand, are based on the company’s authorised capital and the location of its registered office.
New & Unique Name
In light of the name standards provided under section 4 of the Companies Act, 2013, the proposed new company’s name must be unique and eligible. Please contact us if you require assistance in choosing on a name for your startup.
ITR 6
Except for Section 8 corporations, this return is for all types of corporations, including public limited companies, private limited companies, and OPCs.
Why Choose Private Limited Company Registration?
There are numerous advantages to registering a business online. Having a registered corporation enhances the authenticity of your business. It is beneficial to your company in the following ways:
- Company listing under MCA records
- Provides protection against personal liability as well as other losses and dangers.
- Directors and Shareholders can be separated
- Low tax rates as compared to sole proprietorship firm
- Increasing the diversity and consistency of capital contributions
- Easily obtains bank loans and good investments from trustworthy investors
- Provides liability insurance to safeguard your company's assets.
- Attracts more customers
- Enhances the ability to become large and expand
Documents / Information Required
The documentation requirements for company registrations are straightforward and practical. Under MCA, you must have the following documents:
For Company
Documents of the Company's Director
- PAN Card of all directors
- Aadhar Card of all directors
- Passport size Photo of all directors
- Address Proof ( Bank Statement, Electricity Bill, Telephone Bill, Mobile Bill. (Anyone, not older than 2 months).)
- Proof of Identity (Driving License, Voter ID card, Passport (Anyone).)
Proof of the Company's Registered Office Address
- NOC form landlord
- Latest electricity OR any other utility bill in the name of the owner
- Rent /Agreement (If Rented)
Steps & Procedures
Complete Roadmap of Process of Private Limited Company Registration.
1
Fill the above Form and make the payment
2
Our Tax expert will reach you soon after query
3
Submit or Upload The Required Documents
4
Will Create DSC & the DIN Number of Directors
5
MOA and
AOA Drafting & Submitted to the ROC
6
Congratulations! You've registered your company. Cert. will mailed
Frequently Asked Question
How do i start a pvt. ltd. company ?
What is Limited liability protection?
You are only legally responsible for a particular amount of a company's debts if you have limited liability. A private limited company, unlike sole proprietorships and partnerships, limits the shareholders' liability for the firm's liabilities. In other words, a company's shareholders' liability is limited to the value of their shares.
What is Authorized capital of a pvt. ltd. company?
Can NRIs and foreign nationals register a company ?
What is the minimum capital needed to form a ptv. ltd. company?
Do you provide services in Chhattisgarh ?
Yes, Fintore India is an online platform that serves all of India. No matter where you do business, all you need is an internet connection on your phone or computer, and we'll take care of the rest.
Do i need to physically present for the process ?
No, you do not need to be physically present for the process; Fintore India is an online catering platform; all you need is an internet connection on your phone/computer and the relevant paperwork, and we can do the task regardless of where you are in India.
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