Private Limited Company
Private Limited Company is the most popular corporate entity that is registered extensively in India. It is governed by the MCA (Ministry of Corporate Affairs) and regulated by the Companies Act, 2013 and the Companies Incorporation Rules, 2014.
IndiaFilings can help you with company registration across India at a very competitive price. The advantages of registering a private limited company are enlisted to the right.
Easy Transferability
As the ownership of a company is represented by shares, the ownership of a company can be transferred to any other legal entity or person in India or abroad easily - in part or whole. The directors can also be replaced to ensure business continuity.
Limited Liability
A private limited company provides limited liability protection to its shareholders. In case of any unforeseen liabilities, it would be limited to the company and not impact the shareholders.
Funding
A company can raise equity capital from persons or entities interested in becoming a shareholder. Entrepreneurs can raise money from angel investors, venture capital firms, private equity firms and hedge funds.
Separate Legal Entity
A private limited company is recognised as a separate entity legally with perpetual existence. It can have a PAN number, bank accounts, licenses, approvals, contracts, assets and liabilities in its unique name.
Company Name Availability
Companies Act, 2013 does not permit registration of identical or similar names (Know more)
Steps to register
IndiaFilings can incorporate a company in less than ten days, subject to government processing times and availability of all documents.
The process for company registration begins with obtaining digital signatures. Your IndiaFilings engagement manager will submit the application and generate a link to complete video eKYC verification. The applicant would have to take a short video and verify OTP to authenticate the application.
Next, the name approval form is submitted. The Government typically provides name approval within 48 hours. Then, legal documents are prepared which need to be signed by the directors and shareholders.
Once the documents are verified, your engagement manager will apply for incorporation with the MCA on the same day. Incorporation approval in about 48 - 72 hours of business days.
Know moreDocuments required
Documents are of utmost importance in the process.In addition to the identity proof, the directors must submit residence proof that is less than three months old.
Companies registered in India must mandatorily maintain a registered office. In case of leased property, the copy of lease deed for the registered office premises along with a NOC from the landlord and EB bill/property tax receipt/water bill copy of the registered office property. In case of property owned by self, copy of the sale deed along with the EB bill/property tax receipt/water bill is required.
In case one of the shareholders or subscribers to the MOA and AOA is a corporate entity (Company, LLP, etc.,) then the certificate of incorporation must be attached along with the resolution passed by the entity to subscribe to the shares of the company under incorporation.
Know moreDocument submission
Identify the 2 directors and submit their documents as given to the below.
- Identity Proof- PAN (Indian Nationals ) or Passport (Foreign nationals)
- Proof of Address- Passport / Drivers License / Election ID / Ration Card / Aadhar ID
- Proof of residence- Bank Statement / Electricity Bill / Phone Bill
Name Approval
The proposed name is applied and obtained from the Ministry of Corporate Affairs. Upto 2 names can be provided. In case of rejection of both names, an opportunity is provided for re-submission of the form with 2 more names.
Digital Signature
Digital signatures must be obtained for the proposed directors of the company. Digital signature is required for signing of the incorporation application. However, digital signature is not required for obtaining the name approval.
SPICe+ form application
On obtaining the digital signature, the incorporation application can be submitted in the SPICe form with the MCA. There is no requirement for obtaining the RUN name approval for submission of SPICe Form.
Company Incorporation
Company is incorporated along with the incorporation certificate, PAN and TAN within 2-3 business days.
Company current account
IndiaFilings has exclusive relationships with top Banks in India wherein we will open a zero-balance current account digitally through our platform. Based on your choice of Bank, we can forward the request digitally to the Bank for opening the company’s current account from the comfort of your home in any city or town in India.
Register your company this month and get a free payment gateway.
Company Compliance
All companies registered in India are required to maintain compliance under various regulations. Failure to maintain compliance can lead to penalty or disqualification of the directors.
IndiaFilings can help you with accounting and maintaining of statutory compliances for the company at a very affordable price point.
Some of the important compliances for companies registered in India are given to the right. Please note that additional forms will also be applicable as per government notification.
Other than these mandatory compliances, there are others that need to be done depending on the company’s timeline. IndiaFilings also assists in increasing authorised capital, changing registered office, change in directors and others.
Know more-
Statutory Auditor appointment
30 days of IncorporationThe board of directors must appoint a practising Chartered Accountant within 30 days of incorporation.
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Commencement of Business (Know more)
180 days of IncorporationThe capital mentioned in the MOA [Memorandum of Association] must be deposited in a bank and commencement certificate must be obtained from MCA.
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Income Tax Filing
30th SeptemberCompanies registered in India must file income tax return each year in Form ITR-6.
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Annual Return
31st OctoberCompanies registered in India must file MCA annual return each year in forms AOC-4 and MGT-7.
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DIN KYC
30th AprilThe DIN KYC procedure must be completed each year for the directors of the company.
Pay as you go grow pricing
All Inclusive Pricing - No Hidden Fee
Basic
₹7899
all inclusive fees
- 3 Class 2 Digital Signatures 1
- 2 Director Identification Numbers
- 1 RUN Name Approval 2
- 1 Lakh Authorized Capital 3
- Incorporation Fee
- Stamp Duty 4
- Incorporation Certificate
- Current Account Opening
- GST Registration
- ESI & PF Registration
- PAN & TAN
- Incorporation Kit
- Hard-copy Share Certificates
- Premium LEDGERS Software 6
- GST eWay Bill Software
- Commencement of Business Certificate
Standard
₹19899
all inclusive fees
- 3 Class 2 Digital Signatures 1
- 2 Director Identification Numbers
- 1 RUN Name Approval 2
- 1 Lakh Authorized Capital 3
- Incorporation Fee
- Stamp Duty 4
- Incorporation Certificate
- Current Account Opening
- Online Payment Gateway 5
- GST Registration
- ESI & PF Registration
- PAN & TAN
- Incorporation Kit
- Hard-copy Share Certificates
- Premium LEDGERS Software 6
- GST eWay Bill Software
- Commencement of Business Certificate
- Bookkeeping
- Financial Statement Preparation
- Annual Report
- Director's Report
- Board Resolution Preparation
- MCA Annual Return Filing
- Income Tax Return Filing
- 1 Year Dedicated Compliance Manager Support
Premium
₹29899
all inclusive fees
- 3 Class 2 Digital Signatures 1
- 2 Director Identification Numbers
- 1 RUN Name Approval 2
- 1 Lakh Authorized Capital 3
- Incorporation Fee
- Stamp Duty 4
- Incorporation Certificate
- Current Account Opening
- Online Payment Gateway 5
- GST Registration
- ESI & PF Registration
- PAN & TAN
- Incorporation Kit
- Hard-copy Share Certificates
- Premium LEDGERS Software 6
- GST eWay Bill Software
- Commencement of Business Certificate
- Bookkeeping
- Financial Statement Preparation
- Annual Report
- Director's Report
- Board Resolution Preparation
- MCA Annual Return Filing
- Income Tax Return Filing
- 1 Year Dedicated Compliance Manager Support
- 6 Months GST Return Filing
- Udyog Aadhar Registration
- Trademark Filing
* Incorporations from Maharashtra state will also receive complimentary Professional Tax Registration.
- Class 2 digital signature from eMudhra with 2 year validity along with ePass 2003 token.
- Upto 4 name options can be given in 1 RUN name approval request.
- Authorised capital is the amount of shares a company can issue at anytime and can be increased further in the future. Paid-up capital is the amount invested by shareholder and can be even Rs.2.
- In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10, 000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable.
- Business Current Account and Payment Gateway powered by ICICI Bank Limited. Subject to terms and conditions of ICICI Bank Limited.
- Premium LEDGERS Accounting Software with GST Portal Integration and eWay Bill Software.
- Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors. IndiaFilings will only be responsible for accounting, preparation of financial statements and filing of returns on behalf of the Company.
- Additional Directors can be added for an additional price of Rs.999 - if DSC & DIN is available. In case no DIN or DSC is available, cost for adding additional Director will be Rs.1999, inclusive of GST.
- Additional authorised capital can be purchased if requried at time of incorporation.
Private Limited Company Bank Account Opening
Open a new or link your existing ICICI bank current account with LEDGERS for seamless bank account reconciliation, account balance check and sending of payments through NEFT / RTGS / IMPS.
Open a new or link your existing DBS bank business account with LEDGERS for seamless bank account reconciliation, account balance check and sending of payments through NEFT / RTGS / IMPS.
Bank Account Opening
Opening a current account for a private limited company is easier when compared to opening of current account for a sole proprietorship firm as a company is a registered legal entity – recognized by law. Therefore, once a company is incorporated, a bank account can be opened in the name of a company with the incorporation certificate of the company and identity/address proof of the Directors.
How do I register a private limited company?
Registering a company is easy through IndiaFilings. A minimum of two people are required to act as directors and shareholders. The director’s PAN card, address proof and bank statement are required along with address proof of the registered office. The entire process takes 10 to 15 days.
What is authorised capital and paid up capital?
Authorised capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorised capital can be increased any time after incorporation to issue additional shares to the shareholders.
What is limited liability protection?
Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, the liability of the shareholders with respect to the company’s liabilities is limited.
How long does it take to register a private limited company?
On an average, the registrations get done within 10 to 15 days. The processing time would vary depending on the time taken by our clients to submit the necessary documents and government processing time.
Can NRIs and foreign nationals or foreign entities register a company?
Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.
Is an address required in India for starting a company?
Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.
How do I check the availability of name for my company?
You can use the IndiaFilings company name availability search tab to search for available names in India. It is important to note that IndiaFilings would just provide available choices, based on identical names already registered.
How will the company incorporation certificate be provided?
Company incorporation certificate is provided as a pdf document by the Ministry of Corporate Affairs (MCA). MCA only provides soft copy of the incorporation certificate.
How do I open a current account?
Once the company is incorporated, a current account needs to be opened in the name of the company for transactions. Your advisor will guide you through the process of choosing the bank that you want to open the account with and get the documents like certificate of incorporation, Memorandum and Articles of Association, board resolution, copy of PAN allotment letter and utilities bill.
Is GST registration mandatory at this stage?
GST registration is mandatory for certain businesses. Companies dealing with e-commerce operations or any other interstate activity and companies with turnover of more than Rs. 40 Lakhs are required to obtain the same. GST registration takes just 3-5 working days with IndiaFilings.
What about the compliance for a private limited company?
A company is required to maintain certain compliances once it is incorporated. An auditor needs to be appointed within 30 days and income tax filing and annual return filing needs to be done every year. Apart from these, mandatory compliances like ‘Commencement of Business’ forms, and DIN eKYC also needs to be done.
