Private Company Registration in just 7 Days.
Register your company with India's leading platform at just ₹1999 (govt fees + taxes extra).
WHAT IS INCLUDED IN PACKAGE
WHY CHOOSE E-LEGALINDIA?
WHAT IS A PRIVATE LIMITED COMPANY (PVT LTD)?
A Private Limited Company is a privately held small business entity. The liability of members of a private limited company is limited to the number of shares held by that member. A private limited company is governed by Companies Act,2013. Minimum number of shareholders required to start a private limited company is two while the upper limit of members is 200 in accordance with the Companies Act,2013.
If a private limited company faces financial risk, its shareholders are not liable to sell their individual assets i.e. they have limited liability. There must be minimum two directors and maximum 15 directors for a private limited company and a director must be 18 years above in age. A foreign national can become a director of private limited company India.
It is compulsory to add private limited (pvt ltd) to the name of a private limited company India. Minimum paid up capital amount for a private limited company is Rs. 1 Lakh. A private limited company keeps on existing even in the case of death or bankruptcy of its Members.
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Documents required for the registration of Private Limited Company you need to provide the following mentioned documents:
- Share capital amount and proposed ratio for holding share.
- A short description of the company and the business.
- Name of the city where the registered office of the company is located.
- Ownership and sale deed (In case your own premise).
- Identity proof of the Directors and Shareholders (PAN Card).
- Address proof of the registered office (Electricity bill, telephone bill etc.)
- Address proof of the Director or the Shareholder (Voter ID, Passport, Driving license etc.)
- A duplicate copy of the latest electricity bill, telephone bill, or mobile bill for directors.
- Occupation details of directors as well as shareholders.
- Email address of the directors and shareholders.
- Contact details of directors and shareholders.
- Passport size photo of directors and shareholders.
- In case the property is on rent then you need to submit a copy of rent agreement with No Objection Certificate (NOC) from the landlord.
- Affidavits for non- acceptance.
- NOC for a change in the original subscribers of MOA.
- MoA and the AoA subscriber sheets.
- PAN Card of the company.
- In case you are a foreign national subscriber then you need to provide Nationality proof.
A current account is a type of deposit account that helps the professionals and businessmen to run their business. Businessmen can avail various benefits by Online Current Account such as:
- Unlimited transactions
- Customized features
- Online banking services
Online current account reduces the hassle and provides the benefit to complete the banking process anytime and anywhere.
ARE YOU READY TO GROW YOUR BUSINESS?
- Zero Balance Current Account
- In just 5 mins
- Free Current Account Powered by ICICI Bank
- Limited liabilities
The liability of the members of private limited company is limited to their share only as the private limited company is separate legal entity. Limited liabilities means the individual do not have to spend their personal assets for the payment of the liabilities in the firm.
- Legal entity are separate
One of the significant benefits that accompany private limited company is that the organization is a different lawful element according to the law. Because of this difference the individuals from private limited company are responsible just for the activity attempted by them and not by different individuals.
- Easy to form
It is very easy procedure to form or start a Private limited company. As compared to the formation of public sectors the process is very simple.
Private limited company can borrow funds from the debentures as well as the shareholders. Banking and other financial organization provide assets on higher bases rather than other public sectors.
- Several Tax advantages
A private limited company enjoys more tax benefits than public sectors. Here the company pays corporation tax and gets rid from paying higher taxes.
- Get several opportunities
In public sectors you might not receive any such legal entity as compared to the private limited companies.
- Go internationational
Private limited company are the only type of companies which allows for Foreign Direct Investment as other firms or sectors require appropriate licensing and approval from the government for foreign investments.
Private limited company has lifetime existence.
Private limited companies are tangible in terms of relation with the shareholders.
There are few requirements to be known about before initiating a Private Limited Company in India.
- The Private Limited Company should have a unique name for it which will not be equivalent to any other registered trademark.
- It is mandatory for a Private Limited Company to have a minimum two directors.
- As well as it is necessary to keep in mind that the Private limited company should have a minimum of two shareholders.
- All members of Private Limited Company should have a digital signature which will be utilized to register a Private Limited Company.
- There should be 1 lakh rupees minimum capital done for initiating a Private Limited Company.
- The process of registering a Private Limited Company is simple, make sure that you have a unique name for your company which will surely help you for quick registration.
- You must avoid any offensive name for your Private Limited Company.
- A Private Limited Company does not hold any relation with the public, they are not allowed to ask for any sort of deposit from the public or public sectors.
- In a Private Limited Company, people are not allowed to transfer shares, which can help to prevent the takeovers of small Private Limited firms from big Public companies.
- It is mandatory for every Private Limited Company to use “pvt.ltd.” after their name.
- A Private Limited Company can consist of 200 members at a time.
- The private limited company is very easy to accommodate.
- Mentioning everything in Memorandum.
- Private Limited Company is a legal entity which is established under Companies Act 2013.
- A Private Limited Company has a never ending existence mean they have no effect if partners changed or died or any such circumstance took place.
- Private Limited Company has to pay corporate tax.
ENTITY COMPARISON GUIDE
|Members||Maximum 1||2-20||2- Unlimited||2-200||1|
|Legal Status of Entity||Not Considered as separate Legal entity||Not Considered as separate Legal entity||Considered as separate Legal entity||Considered as separate Legal entity||Considered as separate Legal entity|
|Members Liability||Unlimited Liability||Unlimited Liability||Liability of its members is limited||Limited to the extent of share capital||Limited to the extent of share capital|
|Registration||Not Compulsory||Optional/ Can be Registered under partnership Act 1932||Registered Under MCA||Registered Under MCA||Registered Under MCA and Companies Act 2013|
|Transferability Option||Not Allowed||Not Allowed||Can Be Transferred||Can Be Transferred||Allowed to only one person|
|Taxation||As in Individual||30% of Company Profit||30% of Profit Plus CESS and Surcharges applicable||30% of Profit Plus CESS and Surcharges applicable||30% of Profit Plus CESS and Surcharges applicable|
|Annual Filings||Income Tax Returns with the Registrar of companies||Income Tax Returns with the Registrar of companies||Filed with the registrar of the company||Filed with the registrar of the company||Filed with the registrar of the company|
WHAT IS INCLUDED IN OUR COMPANY REGISTRATION PACKAGE?
|2-Digital Signature Certificate (DSC)||2-Director Identification Number (DIN)||Company Name Approval By Ministry|
|Articles of association(AoA)||Registration Certificate||Memorandum of association (MoA) &|
|Tax Account Number (TAN)||Permanent Account Number (PAN)|
PRIVATE LIMITED COMPANY REGISTRATION FAQS
It makes small business to grow and get loans on it. It also helps to get many other benefits for the business. How to form a private limited company Two or more people are eligible to form a Private Limited Company. There should be a minimum to directors and two shareholders of the company, the directors of the company can become the shareholders as well.
Anyone can become a director or a shareholder of the company and there is no specific qualification required for becoming the director of the company.
Director Identification Number is issued by the Ministry of Corporate Affairs. Proof of identity and address is required to be submitted along with requisite fee while submitting the application for DIN
The directors have been endowed with the obligation of dealing with the organization in the best productive way. The duty of a director relies on the sort of directorship he holds in the organization. For example, an official chief or an overseeing director has more noteworthy obligation than a non-official director who may hold the directorship as a specialist or expert.
There should be minimum 2 directors and 2 shareholders in a private limited company. The Maximum number of members in a Private limited firm should be maximum 200 members. No governmental recommendation regarding the Minimum Paid-up Share Capital required for incorporation of a private limited company anywhere in entire India, as per the latest Companies (Amendment) Act of 2015. The mandatory requirement of getting the certificate for business commencement has also been repealed by this Amendment Act of 2015. Xerox copies of the PAN Cards of the Directors/Shareholders (Indian Nationals) or Copy of Passport (Foreign Nationals). DINs (Director Identification Numbers) and DSC (Digital Signature Certificates) of the Directors.