What do you mean by Private Company Registration?
Private Company registration is a service our firm provides. The Private limited company is considered the most popular legal structure option in India. Pvt Ltd. is incorporated under the Companies Act 2013 and it is governed by the Ministry of Corporate Affairs (MCA).
How can one get a Private Company Registered?
You can go through the Private Company registration using our expert services. This whole process usually takes 10-15 days to be through. It would just require you to fill out a 10-minute questionnaire.
What is the cost incurred to get a Private Company Registered?
Our experts at LegalRaasta charge only Rs.6,999 to carry out the process of registration of your Private Company.
What is the process of getting a Private Company Registered?
Step 1: Obtaining Digital Signature (DSC) and DPIN
Step 2: Application of DPIN
Step 3: Name approval
Step 4: Form SPICe
Step 5: e-MoA (INC-33) and e-AoA (INC-34)
Step 6: PAN and TAN application
Which documents are required to get a Private Company Registered?
The following provides a complete list of documents required to get your Private Company registered now:
ID proof and address proof
• Copy of PAN card of directors
• Passport size photograph of directors
• Copy of Aadhaar card/voter identity card of directors
Registered office proof
• A copy of the rent agreement (in case of rented property)
• Electricity/water bill (in case of business place)
• In case of owned property, a copy of Property papers
• NOC by a landlord
What are the primary requirements to incorporate a Private Company?
The pre-requisites to incorporate a Private Limited Company are as follows:
• At least 2 directors and 2 shareholders are required
• The members associated should be 2-200.
• Every director should have DPIN
• A copy of PAN card of the shareholders/Directors or Copy of passport (for NRIs only)
What is the Company Registration Certificate?
Once the filing of the documents is through, the ROC calls the attorney on a specific date for scrutiny and makes the necessary changes in the MoA and AoA filed. After this is done, the Certificate of Incorporation is granted to the company.
After the company is registered, what statutory requirements need to be fulfilled?
After the registration of the company, the following should be fulfilled:
• Current account should be opened within 30 days of PAN registration
• Appoint a Statutory Auditor
• The paid-up capital should be deposited which was mentioned while registration
• Issue and allot shares
Do I need to have a proper office address for registration of private limited companies?
No, there is no such requirement. Any person can start a business at their resident too or in their garage.
What are the different types of Private Companies?
• A company limited by shares
• Unlimited company
• A company limited by guarantee
What is the minimum capital needed to form a Private Limited Company?
You need to have a minimum capital of Rs. 100,000 to start a private limited company. You need not have this amount in hand or your bank account. You can show this amount as the pre-incorporation expense of the start-up. Also, you can show the capital infused in the assets.
Can a Private Limited Company own and carry out multiple businesses?
In case it is mentioned in the MoA and approved by the registrar of the company, then it is possible to carry out multiple businesses. The businesses could be in the same field or different. Though, unrelated activities like event management and fashion designing cannot be registered under the same company.
Can anyone be a director?
There are only 2 conditions for anyone to be a director of the Private Limited Company. These are:
He/she should be 18 years or older
He/she require a DIN (Director Identification Number)
How many directors are necessary for a Private Limited Company Registration?
Your company needs at least 2 directors to register it as a limited company.
Can a Salaried person become the director of a company?
Yes, for sure. You can become the director of any type of company. You need to go through the employment rules if that allows you to do so
What is meant by Limited Liability protection?
You are only responsible for the extent of your investment in the company. Personal assets are not procured in the case of bankruptcy
Is Pvt. Ltd. company eligible to make FDI (Foreign Direct Investment) in India?
Of course. A private Limited Company is eligible to make FDIs in India.
What is Digital Signature?
A digital signature is just like a hand signature, but only in this case, it is used to affix with computerized reports. A DSC provides validity to the signature.
Is it possible to register the company in the residential place?
It is only possible if you provide sufficient proof of it. This address would be where the company receives important information (if any) from the MCA or any other concerned authorities.
What is the Memorandum of Association and Articles of Association?
MoA contains the details of the main, ancillary/ subsidiary, and other objects from the proposed company. And AoA contains the details of the rules and procedures for the routine conduct of the proposed company. AoA also contains the details of the authorized share capital and the name of its first/permanent directors
Are there any annual compliances to be fulfilled by a Private Company?
Multiple compliances need to be fulfilled by a private company and these are:
• The company must appoint an auditor.
• The company should conduct at least one AGM (Annual General Meeting) and at least 4 board meetings (one in each quarter).
• An auditor must audit the books of the company
• Furthermore, a company shall file the form AOC-4 and MGT-7 as a part of annual compliance within the specified time frame.
• There should be the annual filing of the ITR and registrar of the companies
What are the base tax rates for a domestic company?
||Effective tax rate
||(Base rate+ surcharge + CESS)
|Not availing any exemptions or incentives
|Manufacturing companies incorporated after 1st October 2019 and not availing any incentives or exemptions
|Availing any incentives or exemptions
||25%+ surcharge + CESS (4%)
|In any other case
||30%+ surcharge + CESS (4%)
What is the difference between authorized share capital and preference share capital?
Authorized share capital represents the maximum amount of capital that can be raised by the company in the future. Paid-up share capital is the amount raised by the company in the form of shares.
What are the advantages of a Private Limited Company?
• Pvt Companies is easier to grow and expand
• This type of company has greater stability
• It protects the owner’s assets in the case of bankruptcy
• Attracts more clients
• It is easier to procure bank loans and investments from the investors
• It is very easy to sell a Private Limited Company, as there is very little documentation required and the cost involved.
• Only corporation tax is charged (which is usually lower than other forms of taxes)
Are there any hidden involved for registration?
No, there are no extra charges we charge from our clients. Our fee is inclusive of all the taxes and charges involved.
Is the physical presence required of the person/ owner for the incorporation of the company?
The whole process is online. So, a person needn't go anywhere to register it. You are required to send in your documents via email and fill up our questionnaire to get it done.
How much time does LegalRaasta.com take to get the Private Limited Company registered?
Generally, it takes 25-30 days to get it done. But we at LegalRaasta will get your limited company registered within 10-20 days.