Setting up a business in India often involves choosing a private limited company as a preferred option. This structure offers shareholders limited liability protection while placing specific ownership constraints. In contrast, in the case of an LLP, partners oversee the management. Private limited company registration allows for a clear distinction between directors and shareholders.
At IndiaFilings, we offer a cost-effective service to facilitate the seamless registration of your company in India. We handle all legal formalities, ensuring strict compliance with the Ministry of Corporate Affairs (MCA) regulations.
In India, a private limited company is a privately held entity with limited liability, and it ranks among the nation's most favored business structures. This popularity is primarily attributed to its numerous advantages, including limited liability protection, ease of formation and maintenance, and its status as a distinct legal entity. A private limited company enjoys legal separation from its owners and necessitates a minimum of two members and two directors for its operation. Here are the key characteristics of a private limited company in India:
In summary, the attributes of a private limited company in India make it a favored choice among entrepreneurs, owing to its advantageous features and relatively straightforward structure.
A Private Limited Company is one of India's most popular business structures. It offers several advantages and some disadvantages, let us explain.
A minimum of two directors and 200 members are required for Private Limited Company Registration in India, as per the Companies Act of 2013.
Directors must have a Director Identification Number (DIN) issued by the Ministry of Corporate Affairs (MCA).
At least one director must be an Indian resident, having spent 182 days in India in the previous calendar year.
When selecting a name for a private limited company, two factors must be considered:
The name should reflect the principal activity of the business.
After the company registration process, the company must provide the permanent address of its registered office to the company registrar. Business operations occur in this office, and all relevant company documentation is maintained.
Registering a company in India involves a straightforward four-step process:
Every director and shareholder must secure a Digital Signature Certificate (DSC) issued by the Controller of Certification Agencies (CCA). This involves providing essential details such as passport-sized photos, PAN, Aadhaar Card, phone number, and email address. Foreign nationals should also furnish notarized and apostilled documents if applicable.
Obtain a Director Identification Number (DIN) if you intend to be a director in the company. DIN is essential for directors and needs to be provided in the registration form.
Begin by completing the SPICe+ Part A form to secure a unique company name. This entails selecting the company type, class, category, and sub-category, specifying the primary division of industrial activity and offering a comprehensive business description. You'll need to propose two names for approval.
Provide comprehensive information concerning capital, registered office address, subscriber and directors' details, stamp duty, PAN and TAN application, and necessary attachments. Ensure compliance with the Companies Act 2013 and obtain digital signatures from assisting professionals.
Draft the Memorandum of Association (MOA) and Articles of Association (AOA) containing crucial company details. Obtain digital signatures from subscribers and professionals before submitting these documents to the MCA for approval.
Additionally, file the AGILE-PRO-S form to register for GST, EPFO, ESIC, a bank account, and a shop and establishment license (which may be state-dependent).
Upon successful document verification, the MCA will issue the Certificate of Incorporation (COI) with the Company Identification Number (CIN), PAN, and TAN.
For Indian Nationals: Self-attested PAN card copy, passport-sized photo, Aadhaar Card, proof of identity, and address proof.
For Foreign Nationals: Notarized documents, passport-sized photo, passport, and address proof.
Registered Office Documents: Proof of business address, copy of the rent agreement (if applicable), and owner's no objection certificate.
Following incorporation, adhering to post-registration company compliances is essential to streamline company operations and define the roles and responsibilities of directors and shareholders.
IndiaFilings specializes in Company Registration services in India, providing comprehensive guidance and support throughout the registration process. Our team of professionals offers expert consultation tailored to your specific requirements and business goals.
Selecting the appropriate name for your company is critical, and IndiaFilings' experts will aid you in choosing a unique and fitting name that aligns with ROC guidelines. We'll conduct a name availability search and facilitate the reservation of your chosen name, reflecting your business identity.
Compiling the necessary documentation for company registration can be overwhelming, but our experts will handle this task efficiently. We will guide you in assembling all required documents, ensuring accuracy and compliance.
To register a private limited company, directors must obtain a Digital Signature Certificate and Director Identification Number (DIN). We will guide this process to ensure you possess the certifications for seamless registration.
By choosing IndiaFilings for your Company Registration needs, you can be confident that your private limited company registration will be managed professionally and effectively. We aim to simplify the process, allowing you to concentrate on your business objectives while we address the legal requirements. Embark on your entrepreneurial journey with assurance by registering your company through IndiaFilings.
To register a company in India, the first step is to obtain name approval for the business from the Ministry of Corporate Affairs (MCA). This process takes about 24-48 hours. A private limited company name in India must end with the words private limited. One Person Company ends with (OPC) private limited. LLP end with LLP and Section 8 companies can end with words like foundation, association or institution.
A company name proposed to be registered cannot be identical or similar to an existing company name. Also, every company name must include a word that denotes the activity undertaken. For example, in VERVE Financial Services Private Limited - Financial Services denote the activity undertaken. Check Business Name Availability
All trademarks are registered in India with the Office of the Controller General of Patents, Designs and Trade Marks. A trademark application has to be filed under a class that denotes the type of goods or services the brand or logo represents. There are 45 trademark classes and each class represent a distinct type of goods or service.
Trademark search can be conducted using the tool above to check if any identical or similar brand or logo is registered or applied for under the same class. If there is an existing application, care must be taken while reapplying to ensure that the application is not rejected by the Trademark Registrar. Trademark Search
PAN is mandatory for Indian Directors.
Passport is mandatory for Foreign Directors or Shareholders.
Aadhaar is mandatory for Indian Directors.
Any document issued by a Foreign Government having photo and address of the Director or Shareholder.
Latest bank statement of the Directors and Shareholders.
Latest electricity bill for the registered office premises.
Latest telephone bill for the registered office premises. Electricity bill preferred.
Latest mobile bill for the registered office premises. Electricity bill preferred.
If the proposed shareholder is another company or legal entity.
If the proposed shareholder is another company or legal entity.
Passport size photo of the Directors and Individual Shareholders.
|Definition||Unregistered type of business entity managed by one single person||A formal agreement between two or more parties to manage and operate a business||A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company.||Registered type of entity with limited liability to the owners and shareholders|
For One Person Company
|Registration Time||7-9 working days|
|Promoter Liability||Unlimited Liability||Limited Liability|
|Governance||-||Under Partnership Act||LLP Act, 2008||Under Companies Act,2013|
|Transferability||Non Transferable||Transferable if registered under ROF||Transferable|
|Compliance Requirements||Know More|
Many small businesses pay lakhs in penalty every year to the Government for late filing various statutory returns. Such penalty or late fee paid is not tax deductible and is a drain on profitability. At IndiaFilings, our mission is to provide the most affordable services to our customers and help them avoid all late fee.To achieve our mission - we have built enterprise grade technology to help you proactively know the upcoming compliance and avoid penalty.Checkout our compliance services below, talk to an Advisor and stop paying unwanted late fees.
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
Every registered entity has to comply with all the compliance obligations after the completion of each financial year. Majorly, it includes the audit of books of accounts, income tax return filing, and annual forms with the MCA.
|Form||Company Compliance||Due date||Penalty|
|COB Filing||Commence of Business Certificate||To be filed before 180 days of company Incorporation||Rs.50,000 for non-compliance|
|DIR 3 EKYC||Any director with DIN||Before 30th September every year||Deactivation of the DIN
A late filing fee of Rs.5,000
Disqualification of the Directors
|Form ADT 1||Appointment of auditor||Within 15 days from the date of appointment of the Auditor||Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.|
|Form AOC 4||Filing financial statements of the company||30 days from the conclusion of the AGM||Late fees will be applicable, with fees ranging from 2 to 12 times the nominal fee, depending on the number of days of delay.|
|Form MGT 7||Annual Returns of the Company||60 days from the conclusion of the AGM|
In addition to the above filings, depending on the type of entity and business activity more compliance filing maybe applicable. Please check with an IndiaFilings Advisor to help you with the compliance for your company.
All Limited Liability Partnerships (LLP) registered in India are required to file statutory returns with the Ministry of Corporate Affairs (MCA) each year. IndiaFilings can help you maintain your LLP Compliance at a very affordable price.
|Form||LLP Compliance||Due date||Penalty|
|DIR 3 KYC||For every designated partners of a limited liability partnership (LLP) with DIN||Before 30th September every year||Deactivation of the DIN
A late filing fee of Rs.5,000
Disqualification of the Partners
|Form 11||Annual Returns||May 30th every year||Late fees will be applicable, with fees ranging from 1 to 50 times the nominal fee, depending on the number of days of delay.|
|Form 8||Statements of Accounts and Solvency||30th October every year||Late fees will be applicable, with fees ranging from 1 to 50 times the nominal fee, depending on the number of days of delay.|
Apart from the aforementioned filings, there might be additional compliance filings that could be relevant for LLPs. Please consult with an IndiaFilings Advisor to assist you with the compliance needs of your LLP.
|Private Limited Company||Annual Return (Form MGT-7)||60 days from the conclusion of the AGM or 28th November 2023 (Which Ever is Earlier)|
|Financial Statements (Form AOC-4)||29th October 2023|
|DIR-3 KYC||30th September 2023|
|Form DPT-3||30th June 2023|
|Form ADT-1||15th October 2023|
|ITR 6 (Non audit case)||31st July 2023|
|ITR 6 (Audit Cases)||31st October 2023|
|GSTR 9||31st Dec 2023|
|Limited Liability Partnership||ITR 5 (Non audit case)||31st July 2023|
|ITR Form 5 (Audit case)||30th September 2023|
|Annual return - Form 11||30 May 2023|
|Financial Statements - Form 8||30 October 2023|
Note : Get in touch with our experts to efficiently handle your compliance filings, whether you are an LLP, a company, partnership firm or a proprietorship. Contact us to ensure your compliance is filed before the due date.
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