Company Registration is one of the most popular legal entity in India. In simplified terms, its a proper company registration in India with the ministry of corporate affairs and gives you rights doing business anywhere in India or outside. MCA register your pvt ltd company registration and provide to you CIN Number with Certificate of Incorporation. At the end of the process, you have to simply open a current bank account on the Company Name on the basis of Certificate and Start your Company Operations.
Rules Of Registration
1. Require minimum 2 directors or partner in the Private Limited Company.
2. Authorised Share Capital: 1 Lakh Rupees ( It’s just a share proposed value, doe’st not mean you have to invest 1 lakh rupees)
There are numerous advantages to registering a company. By doing so, you enhance the credibility of your business, which can lead to increased consumer trust. Additionally, company registration can provide various benefits that can help your business to grow and succeed.
As defined by the Companies Act, 2013 one must guarantee to meet the checklist requirements without fail for Private Limited Company Registration in India.
A private limited company must have at least two directors, with a maximum of fifteen. A minimum of one of the company's directors must be a resident of India.
The name of your pvt ltd company must be unique. The suggested name should not match with any existing companies or trademarks in India.
There is no minimum capital amount for a Pvt ltd company. A Pvt limited company should have an authorised capital of at least ₹1 lakh.
The registered office of a pvt ltd company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NOC is obtained from the landlord.
Startups in India can gain an edge over non-registered competitors by registering their company. While the process of registration is getting complicated and involves numerous compliance requirements, need not worry as Vakilsearch is here to assist you every step of the way. Our team of professionals can provide comprehensive support for pvt company registration.
The first step of company registration involves the registration of your desired name. To reserve a name for your company, you must first submit a request for name approval to the Ministry of Corporate Affairs (MCA). You may include one or two potential names, along with a description of your business objectives, in your application for name approval. If your first choice is not approved, you may submit one or two additional names for consideration. Typically, the MCA approves name requests within five business days. Our team of experts can help you choose the ideal name for your company and guide you through the government registration process
The MCA in India does not recognize traditional signatures. Instead, all filings with the MCA must include a digital signature certified by an Indian certification authority. Thus, it is mandatory for directors to have digital signatures prior to the company's incorporation. Finxurance will obtain a digital signature certificate (DSC) for the directors through a recognized certification entity. To obtain a digital signature, directors must provide a copy of their identification documents and successfully complete a video KYC process. If a director is a foreign national, the nearest embassy should apostille their passport and other documents for company registration.
After obtaining the necessary digital signatures, submit the incorporation application in SPICe form along with all relevant attachments to the MCA. The application for incorporation includes the company's Memorandum of Association (MOA) and Articles of Association (AOA). If the MCA deems the incorporation application to be complete and acceptable, the company can get the Incorporation certificate and PAN. Typically, the MCA approves all incorporation applications within five business days.
After the process of company registration in India, it is necessary to adhere to various compliance regulations in order to avoid potential fines and legal repercussions. Some of the key post-registration requirements include:
Auditor Appointment: Within 30 days of incorporation, every Indian company must appoint a practising, certified, and registered Chartered Accountant(CA).
Director DIN KYC: Every year, individuals who possess a Director Identification Number (DIN) should undergo a DIN KYC process. During the company incorporation process, the company can get the DIN. This helps to verify the phone number and email address on file with the MCA.
Commencement of Business: The shareholders of the company must deposit the subscription amount specified in the MOA within 180 days of incorporation, and the company must create a bank current account. Therefore, to receive a business incorporation certificate, the shareholders of a company established with a paid-up capital of ₹1 lakh must deposit ₹1 lakh into the company's bank account. They should also file a copy of the bank statement with the MCA.
MCA Annual Filings: Every financial year, the MCA must get a copy of the financial statements from each company registered in India. A corporation that incorporates between January and March may elect to include the first MCA annual return in the annual filing for the following fiscal year. Forms MGT-7 and AOC-4 are the components of the MCA yearly return. The Directors and a working professional must digitally sign both of these documents.
Income Tax Filing: Every financial year, businesses should file an income tax return using form ITR-6. The business should file the income tax before the deadline for each financial year, irrespective of the date of incorporation. The company's income tax return must be digitally signed using the director's digital signature.
Before incorporating a firm, it must meet a specific set of conditions. The following are such conditions:
When selecting a name for a private limited company, there are two factors must be into consideration:
Upon completion of the registration process, the company should give the permanent address of the business's registered office to the company registrar. The registered office is the primary location where business takes place and stores all documentation pertaining to the company.
To verify the authenticity of electronically submitted documents, every business must obtain a DSC. Furthermore, the business needs credentials from such professionals as secretaries, chartered accountants, and cost accountants that engage them for various operations.
The MCA requires proper identity and address proof for private limited company registration in India. The following documents are the requirements for registering a company in India<< /p>
Note: Your registered office need not be a commercial space; it can be your residence too.
It’s cost nearby 10,999/- INR except in some state like Punjab, Kerala and MP State due to Stamp Duty.
GST Registration is optional till the 20 lakh rupees turnover and for north east state 10 lakh rupees turnover. it’s a completely separate registration apart from private limited company registration.
Yes, with the private limited company registration under startup india is possible. simply register your pvt ltd company and register with the startup india portal.
Yes you can run the multiple business under one private limited company. For ex if you deal into the trading of the products and services both then you can mention in your MOA during the pvt ltd company registration.
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