Private Limited Company Registration
A private limited company is the most credible form of Indian company incorporation. It is best suited for growing startups and businesses looking to raise funds.
Post-screening of provided documents, the company can be set up in 10 working days by directly registering it with the Registrar of Companies (RoC). A private limited company operates as a distinct legal entity to its directors and shareholders; the company is an ‘individual’ in its own right. This means that all the business assets, liabilities and profits belong to the company itself and the shareholders are not wholly responsible for debts incurred by the company.
Being a director of a private limited company is different from being self-employed or operating as a sole proprietor. A director of a private limited company is considered an employee of the company and, in the event of a legal dispute or problems with debt, it is the private limited company itself that is prosecuted or pursued rather than the directors.
Benefits of Private Limited Company
- Limited Liability: As company owners, they are not legally obligated to pay outstanding company debts beyond the value of the shares they hold it in the company and it protects the personal assets (such as a home or savings) of the company owners and this protects them in the event of business failure.
- Professional status: A private limited company is typically seen as a more professional operation than an unincorporated sole proprietorship or partnership. This is due to the transparent nature of the business accounts which, along with the details of the directors and persons of significant influence, need to be made public.
- Protect your business name: When you incorporate your company its name is protected and other businesses cannot use the name or one that is similar.
- Raising capital: You can raise additional capital by selling shares in your limited company to help invest and grow your business. The best part is that investors are also protected from the company failing and their risk is limited to the value of the shares they hold.
- Doing business with other companies: Most larger businesses will not work with unincorporated businesses such as sole proprietor & partnerships, so you may need to operate as a private limited company to provide goods and services to other companies.
Documents Required for Private Limited Company Registration
- Documents required for directors and shareholders:
- Identity proof of directors: All the directors are required to provide their PAN at the time of registering company:
- PAN
- Address Proof: Directors can submit any of the following documents as the residential proof:
- Aadhar Card
- Passport
- Driving License
- Voter Card
- Residential Proof:Latest Utility Bill having the address of the director:
- Electricity Bill
- Telephone/Mobile Bill
- Bank Statement
- Photograph: All the directors should provide their passport size photograph with a white background.
- Passport (in case of Foreign Nationals/ NRIs):
- To become a director/shareholder in Indian Company, all the foreign nationals and NRIs have to submit their passport compulsorily.
- Passport should be notarised by the relevant authorities in the country of such foreign nationals and NRI, else Indian Embassy situated in that country can also sign the documents.
- Submit a residential proof and if it is in some other language than English, attach a notarised or translation copy along with the documents.
- Identity proof of directors: All the directors are required to provide their PAN at the time of registering company:
- Documents required for Private Limited Company:
- Registered Office Proof of the company: Proof of registered office has to be submitted during registration, or within 30 days of its incorporation:
- Proof of ownership if any director owns the place of business
- Rental agreement of the property where the business runs
- Latest Bill of Electricity/Water/Property Tax
- NOC from the Owner of Premises
- Registered Office Proof of the company: Proof of registered office has to be submitted during registration, or within 30 days of its incorporation:
Standard Other Registrations or Licences We Provide
PAN Registration
A PAN or Permanent Account Number is an important document all taxpayers must possess, as mandated in the Income Tax Act of 1961.
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A trademark is a unique symbol or word(s) used to represent a business or its products. Once registered, that same symbol or series of words cannot be used by any other organisation, forever, as long as it remains in use and proper paperwork and fees are paid.
Learn MoreShops & Commercial Establishment Registration
Shop act registration is to be taken compulsorily to start business establishment. Details of personal employed are to be given on yearly basis.
Learn MoreProfessional Tax Registration
Professional Tax Registration is levied by Municipal Corporations of various states in India. People who carry the profession such as CA (Chartered Accountant), Lawyers, Doctors, Business Owners etc need to pay these taxes. The owner of a business is responsible to deduct professional tax from the salaries of its employees.
Learn MoreUdyog Aadhar (MSME) Registration
MSME Registration helps you to receive payment on time from large companies as they have to pay MSME Vendor within 45 days. Plus, you get benefit at the time of taking a loan in form of concessional rate of interest.
Learn MoreGST Registration
Any person or entity supplying goods or services in India above the aggregate turnover limit (INR 20L for Service and INR 40L for Goods) is mandatorily required to obtain GST registration. For certain businesses such as Interstate Supply, E-Commerce Operators registration under GST is mandatory irrespective of turnover limit.
Learn MoreTAN Registration
The Tax Deduction and Collection Account Number (TAN) is required for people who are deducting or collecting tax at source. Anyone paying a salary or commission is required to get a TAN.
Learn MoreFSSAI Registration
Every food business operator (FBO) involved in the manufacturing, processing, storage distribution and sale of food products must compulsorily obtain FSSAI Registration or License. FSSAI Registration is different from FSSAI License in the sense that depending on the size and nature of the business, FBO should obtain the necessary registration or license.
Learn MorePrivate Limited Company Registration Process
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01
Finalisation of Private Limited Company Name
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02
Verification of Documents
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03
Digital Signature Certificate for Private Limited Company Directors
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04
Director Identification Number for Private Limited Company Directors
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05
Name Approval Application
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06
Incorporation- SPICe+ Form Application (E MOA, E AOA, SPICe+ INC32)
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07
Certificate of Incorporation
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08
PAN Registration for Private Limited Company
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09
TAN Registration for Private Limited Company
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10
Bank Account Opening
Post-Incorporation Company Compliance
- Board Meeting First Board Meeting is required to be held within 30 days after Incorporation. There should be Four board meetings conducted in one calendar year. 1/3rd of the total number of directors or minimum 2 whichever is greater should be present at the meeting. The gap between two Board Meetings should not be more than 120 days.
- Auditor Appointment To protect the interests of the shareholders, every Private Limited Company is required to appoint the First Auditor within 30 days of Incorporation of Company. Any individual who can review and verify accounting data and recognised as a Chartered Accountant (CA) under the Chartered Accountant Act 1949
is considered to be an auditor. - Commencement of Business Declaration of commencement of business in Form 20A within 180 days from the date of Incorporation of the company.
- Statutory Audit of Books of Accounts by the Auditor A regular statutory audit by the Auditor (Chartered Accountant) must be conducted to assess the
company’s financial stability. The bookkeepers shall be liable for any fraudulent representation made in the books of accounts. The audited financial report shall be submitted to the Registrar of the companies. - Annual General Meeting It is mandatory that one Annual General Meeting is organised every year. The gap between two AGMs should not be more than 15 months. The purpose of AGM is to discuss the financial statement, the appointment of an auditor, declaration of dividend, remuneration, business performance etc.
- Income Tax Annual Return A Private Limited Company must file Income Tax Return by filling e-form MGT-7 on or before 30th November and failure to file will attract a penalty of Rs. 10,000. The Annual Income Tax Return is filed in 60 days from conducting annual general meetings. The Annual Income Tax Return is calculated for the financial year with effect from 1st April to 31st March.
- MCA Annual Return Every Private Limited Company is required to file its Balance Sheet along with the statement of Profit and Loss Account and Notice of AGM, Director Report and MGT-9 in this form within 30 days of holding of AGM.
- DIN KYC Every year, DIN KYC procedure must be completed for the director of the company. Each DIN has lifetime validity and no changes can take place in it. According to the amendment made in 2019 each person possessing a DIN has to file Form DIR-3 KYC every year to keep the DIN active.
Find the Perfect Price
for Private Limited Company Registration
(All Taxes Inclusive, Transparent Pricing)
Plan feature |
Basic |
Plus |
Pro |
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₹ 8499 | ₹ 15999 | ₹ 29999 | |
Features | |||
Consultation |
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Government Fees & Stamp Duty1 |
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2 DSC2 , 2 DIN, 1 Lakh Authorised Capital, 1 RUN Name Approval3 , PAN and TAN |
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ESI & PF Registration |
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Incorporation Fee & Certificate |
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Commencement of Business Certificate |
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GST Registration |
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Current Account Assistance |
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Board Resolution |
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MCA Annual Return & Director’s Report |
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MSME Registration, if applicable |
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Shop & Establishment Registration, if not factory |
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GST Return (GSTR-1 or 3B)5 |
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3 months up to 30 entries |
6 months up to 100 entries |
Bookkeeping & Accounting |
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6 months up to 700 entries |
TDS Return |
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6 months up to 100 entries |
Professional Tax Registration |
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Income Tax Return & Financial Statement6 |
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Payroll |
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ESI & PF Return |
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Disclaimer:
- Govt Fees & Stamp duty charges for 2 directors & INR 1 lakh Authorised Capital are included in the package except for the states of Punjab, Madhya Pradesh and Kerala. For exception States, more than 2 directors & 1 Lakh authorised capital, the additional duty is payable by the client as per below:
- Kerala: Rs. 3156/-
- Madhya Pradesh: Rs. 7681/-
- Punjab: Rs. 15025/-
- Additional Directors can be added for an additional cost of Rs. 999; if DSC & DIN are available. In the case of DIN or DSC is not available, the cost for adding additional Director will be Rs. 1999, all-inclusive.
- Additional authorised capital of more than 1 lakh if required can be obtained by paying the applicable professional & Govt fee.
- Class 2 digital signatures of 2-years validity with ePass token.
- Up to 2 name options can be given in 1 RUN name approval request.
- Fee not included for Foreign national / Body Corporate as director or business needing RBI/SEBI approval. The additional fee is payable by the client.
- Turnover of up to 12 Lakhs per quarter or 30 entries.
- Statutory Auditor (Chartered Accountant) fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors. Companies are required to get their account audited by a Chartered Accountant, even if the company is not working or is currently having no turnover then also the Annual Statutory Audit is mandatory.
- Above packages are applicable where the annual turnover is below Rs. 50 lakh in Service based business and Rs. 1
crore in case of Goods.