AN INSIGHT INTO PRIVATE COMPANY REGISTRATION!!!

1. A private registration company is, where director and shareholder can be same.
2. Maximum limit on number of shareholder prescribed in Pvt. Ltd Company is 200.
3. Maximum number of Director in a private limited structure can be raised to 15 without any special resolution.
4. Unsecured Loan is allowed from Director and its relatives only.

BENEFITS OF PRIVATE LIMITED COMPANY REGISTRATION

1. Private Limited Company Registration is comparatively fast 10-25 days varying state to state.
2. It’s easy to fetch funding in a private limited company by transferring of shares.
3. A private limited company is easy to convert in a Public Limited company at any stage subject to fulfillment of eligibility criteria.
4. Maintenance of Basic Compliances after registration of private limited company are comparatively simple.
5. There exists no Bar on Turnover and Capital in a private limited company structure unlike in One Person Company (OPC) .

WHY PRIVATE LIMITED COMPANY

1. Easy Funding by equity distribution as same is not available in LLP or OPC
2. Easy adding of Co-founder by sharing equity
3. Best platform for Tax planning
4. Best for long term vision of business
5. Easily recognizable.

WHAT IS PRIVATE LIMITED?

A. Private Limited Company is mode of registration of business set up in India. It gives you a separate legal entity for operating your business with your desired unique name which also get reserved during its registration. A body of central government of India known as Ministry of Corporate Affairs is looking after all affairs of company registration and its regular compliance.

HOW MUCH TIME WILL IT TAKE TO REGISTER PRIVATE LIMITED COMPANY?

A. It normally takes 7-10 working days after submission of all requisite documents . But sometimes it may vary to 10-25 days also which depends of state of registration, as each state has its own Registrar of Companies(ROC) to register private limited company.

WHAT ARE THE ADDITIONAL COMPLIANCE FOR PRIVATE LIMITED COMPANY?

A. Apart from regular compliance of Income Tax, all private limited companies are required to follow all compliance as per Companies Act, 2013. There are several compliance which is applicable after certain compliances. But some annual compliance to be follow by all private limited company i.e.
1. Appointment of Auditor i.e. filing of ADT-1
2. Annual Filing of company i.e. AOC-4(Financial of company) and MGT-7(Annual Return)

WHAT IS MINIMUM CAPITAL REQUIRED FOR PRIVATE LIMITED COMPANY

A. A private limited company required a minimum capital of Rs. 1, 00,000. This amount is supposed to deposit by the shareholder in decided share percentage in the bank account of company. Then the same amount can be used by the company for its operations.

WHAT ARE THE DOCUMENT REQUIRED FOR PRIVATE LIMITED COMPANY REGISTRATION?

A. 1. PAN card of each Director and Shareholder.
2. Photographs of each Director and shareholder.
3. ID Proof and Address proof of Director and Shareholder.
4. Address proof of registered address of Company
Q. Do I need to have an office set up before starting a Private Limited Company ?
A. No, we need an address in India where the registered office of the Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.

WHAT IS AUTHORIZED CAPITAL FEE?

Authorized capital of a Company is the amount of shares a company issues to its shareholders. Companies have to pay the Government an authorized capital fee to issue shares in a Company.

Drafted by:
CS.A.Maniraj.,B.Com.,ACS.,CA(Fin), Independent Director 
Certified CSR Professional., Certified GST Professional.