Private Limited Company

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Simplest and a very popular form of Company Registration in India. Prices Starting from INR 7199/- only.

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Private Limited Company Registration

All you need to know

A Private Limited Company provides its shareholders with limited responsibility and legal protection. In India, a private limited company (PLC) sits in the middle of a partnership firm and a publicly traded company. It can be registered with a least two individuals. A person may hold both the positions of shareholder and director in a private limited company.

Members of a Private Limited Company (PLC) are only liable for the number of shares they really own. When a Private Limited Company in India receives its Certificate of Incorporation, operations can start. Incorporating a PLC takes 15 working days.

Start a company with a minimum of two initial shareholders and directors. The company is permitted to have 15 directors and up to 200 shareholders. Both shareholders and directors may be the same person.

The corporation should have an Indian resident as one of its directors. When a person spends more than 120 days in India over the previous financial year, that person is referred to as a resident Indian. Citizenship has no bearing on this.

You need to provide documentation of the registered office and the owner’s NOC in order to register the firm. In the event of difficulty, you may register a company on a communication address; nevertheless, the company must have its registered address within 60 days.

There is no set minimum or maximum capital need; instead, you should invest according to the needs of your company. However, the authorised capital and the location of the company’s registered office are used to determine the ROC Fee and Stamp Duty.

The proposed new company’s name must meet the name criteria outlined in Section 4 of the 2013 Companies Act, and it must be both original and appropriate. Please get in touch with us if you need assistance; we can offer advice on choosing a name for your startup.

Compliance required by a Private Limited Company

All you should know about necessary compliances

GST Registration

After a private limited company is incorporated in India, it must obtain its GST registration within 30 days. When a business supplies items inside a state or offers goods and services online, or when its annual revenue exceeds INR 40 lakhs or INR 20 lakhs in states that fall under a special category, GST registration is required.

GST Return

Once a Private Limited Company registers for GST, it is required to file GST returns on behalf of the Private Limited Company. Since submitting GST returns is required of all registered taxpayers, including companies. Depending on the type of GST return form you are filing, GST returns can be submitted monthly, quarterly, or yearly.

Accounting

Every Pvt Ltd Co. is required to keep proper books of accounts that accurately and fairly depict the company’s financial situation. Accounting is required for the required statutory audit, annual filing, and IT return filing. The auditor that the company has selected must audit these books of accounts.

Statutory Audit

Every Private Limited Company incorporated under the Companies Act is required to have its book of accounts audited every financial year, regardless of its sales turnover, business model, or capital. As a result, the legislation mandates that the Board of Directors of a Private Limited Company select an Auditor within 30 days of incorporation and undertake an audit of its financial statements each fiscal year after that.

MAT Audit

Under MAT, or Minimum Alternate Tax, the Pvt Ltd Co. is required to have their accounts audited. The goal of the establishment of MAT was to bring “zero tax corporations” that, although having achieved significant book profits and paying out generous dividends, do not pay any tax as a result of numerous tax breaks and incentives granted by the Income-tax Law, into the tax net.

Income Tax Audit

Under Section 44AB, all Private Limited Companies are required to undergo tax audits. The purpose of the tax audit described in Section 44AB is to determine if certain Income Tax Law regulations are being followed, as well as other Income Tax Law requirements. Section 44AB limits tax audits to a maximum of INR 1 crore. (5 crores, at least 95% of which comes from digital transactions.)

ROC Annual filing

Every year, a Private Limited Company is obligated to submit three forms. Regarding the submission of financial statement documents, including the balance sheet, P&L account in form AOC 4, and annual return in form MGT-7, filing is required. Company report to ROC in Form ADT 1 regarding appointment of auditor.

IEC Registration

The Import Export Code must be registered by every Private Limited Company involved in the import and export of products. IE code is valid for all time. Without this code, importers are not permitted to proceed, and exporters are not eligible to receive export benefits from the DGFT, customs, or the Export Promotion Council.

TM Registration

The name or brand name is not completely protected by registering a Private Limited Company with a name. The only way to ensure complete protection for a business name is to register it as a trademark. You can obtain ownership of your Pvt Ltd Co. name, brand name, logo, etc. by registering a trademark.

Pvt Ltd Company Registration Fees

Choose Your Package

₹ 7199

2 Digital Signature Certificates
2 Director Identification Numbers
1 Name Approval Application
Stamp duty on INR 1 Lakh Authorized Capital
Company Incorporation using SPICe+
Copy of e-MOA & e-AOA
E-PAN
E-TAN
2 e-copies of Share Certificates
ESIC Registration through SPICe Plus
PF Registration through SPICe Plus
Bank Account opening (feature) through SPICe Plus

₹ 9999

2 Digital Signature Certificates
2 Director Identification Numbers
1 Name Approval Application
Stamp duty on INR 1 Lakh Authorized Capital
Company Incorporation using SPICe+
Copy of e-MOA & e-AOA
e-PAN
e-TAN
2 e-copies of Share Certificates
ESIC Registration through SPICe Plus
PF Registration through SPICe Plus
Bank Account opening (feature) through SPICe Plus
GST Registration
INC-20A Filing

Popular

₹ 25999

2 Digital Signature Certificates
2 Director Identification Numbers
1 Name Approval Application
Stamp duty on INR 1 Lakh Authorized Capital
Company Incorporation using SPICe +
Copy of e-MOA & e-AOA
e-PAN
e-TAN
2 e-copies of Share Certificates
ESIC Registration through SPICe Plus
PF Registration through SPICe Plus
Bank Account opening (feature) through SPICe Plus
GST Registration
INC-20A Filing
SSI/MSME Registration
Trademark (1 application 1 class) (start ups, proprietorship & small business)
1st Income Tax filing upto turnover of Rs. 20 Lakhs
1 Year TDS Filing upto 500 entries
25 Copies of MOA
25 Copies Of AOA
10 Copies of Share Certificate
Company Seal
1st Annual Filing upto turnover of Rs. 20 Lakhs
Form ADT 1 (Auditor Appointment in AGM)
Form AOC -4 (Form for filing financial statement and other documents with the Registrar)
Form MGT -7 (Form for filing annual return by a company)
DIR 3 e-KYC of 2 Directors
Accounting and Book Keeping (up to 50 transactions)
2 e-copies of Share Certificates

Documents Required for Private Limited Company registration

Quick Checklist

Photograph of all the Directors
PAN Card of all the Directors
ID Proof of the Directors (Driving License/Passport/Voter ID)
Electricity Bill or any other utility bill for the address proof of the Registered Office.

Specific Requirements

A Private Limited Company must have a registered office in India. Documents like bank statement or electricity bill should be recent.
A utility bill, rent agreement or sale deed and an NOC (Non-Objection Certificate) from the landlord with his / her consent to use the office as a registered office of a company must be submitted as well.

Advantages of a Private Limited Company

Points to make your decision easy

No Minimum Capital

A Private Limited Company can be established without a minimum amount of money. Only Rs. 10,000 can be used to form a Private Limited Company as total authorised share capital.

Separate Legal Entity

The assets and liabilities of a Pvt Ltd Co. are distinct from those of the directors since the company has its own legal identity in the eyes of the law. They both count differently.

Limited Liability

Members’ personal assets won’t be used to settle the company’s debts if it experiences financial difficulty for whatever reason because their liability is limited.

Fund Raising

Except for Public Limited Companies, a Private Limited Company is the only type of firm that can raise money from venture capitalists or angel investors in India.

FDI Allowed

100% Foreign Direct Investment is permitted in Private Limited Companies, meaning that any foreign business or foreign individual may directly invest in a Private Limited Company.

Builds Credibility

A public database contains the company’s information. As it’s simple to verify the information, this raises the company’s reputation.