Company Registration India
Private Limited Company Registration India
Most incorporated entities in India are Private Limited Company as it have many benefits compared with other business structures. Companiesinn with over 10 years presents in online made company registration private limited simple and affordable to everybody. Now using our tool anyone can Register Company online. Below are some important points covering what is private company
PRIVATE LIMITED COMPANY
A 'Private Company' is a limited company formed with minimum of 2 members and 2 Directors. Maximum number of members in a Private Company is restricted to 200.
The name of the company should end with the words 'Private Limited'. A 'Public Limited' company is the most common incorporated business organisation in India. It is generally called as a 'Private Company'.
COMPANY NAME
The name of a Private Limited company shall end with the words 'Private Limited'. Proposed Company Name shall comply with the Company Name Availability Guidelines under Companies Act 2013
There are TWO ways for reserving a name for a New Company.
a. RUN (Reserve Unique Name) is an easy and web-based application for reservation of a Company Name. The name approved under RUN Process is valid for a period of 20 days from the date of approval. In one application, Two names can be submitted for approval under RUN process. If the application is rejected, the another Two more names can be submitted again. If that also rejected by ROC office, a fresh application to be filled with fresh filing fee.
b. SPICe (Simplified Proforma for Incorporating Company Electronically) Incorporation Filing process is an integrated single point application for Reservation of Company Name, Allotment of DIN for Directors and Incorporation of a New Company along with allotment of Permanent Account Number (PAN) and Tax Collection and Deduction Number (TAN) to the New Company. Under SPICe application, only ONE name can be submitted for approval.
Before selecting name one must follow New Company Registration Name Availability Guidelines 2019
SHARE CAPITAL
There is no minimum capital (Authorised or Paid up Capital) requirement for registering a company. However, the registration fee payable to the Registrar of companies depends on the different slabs of Authorised capital of the company.
The First Shareholders must bring the subscribed capital to the Company with in 60 days of Company Incorporation and the Company must issue share certificates to the subscribers.
With effect from April 2019 no registration fee will be charged for company registration if the authorised capital is upto Rs.15 lakhs (May 2019)
REGISTERED OFFICE ADDRESS
Registered Office refers to the official correspondence address of a company or its principal place of business. The address of the Registered Office will be used for all official communications of the company.
AGILE Application SPICe for Company Registration
Ministry of Corporate Affairs has introduced AGILE The application (SPICe) for incorporation with effect from 31st March 2019.
AGILE application (SPICe) for incorporation of a company shall be accompanied by a linked e-form AGILE (Application for registration of the Goods and Services Tax Identification Number (GSTIN), Employees’ State Insurance Corporation (ESIC) registration pLus Employees’ Provident Fund Organisation(EPFO) registration) with effect from 31st March 2019, as notified vide the Companies (Incorporation) Third Amendment Rules, 2019 dated 29th March 2019.
With the AGILE application (SPICe) for incorporation, a newly incorporated company can choose the following registrations at the time of Incorporation
- Company Incorporation
- Permanent Account Number (PAN)
- Tax Deductions and Collection Number (TAN)
- Goods and Services Tax Identification Number (GSTIN)
- Employees’ State Insurance Corporation (ESIC)
- Employees’ Provident Fund Organisation(EPFO)
How to Register a Company in India - Steps
Select Packages and place order with CompaniesInn
You will be directed to India's First and the State of the Art E-Lawyering Interview by CompaniesInn . Complete the online Interview and generate Company Registration Documents for execution by Shareholders and Directors.
Submit Executed documents to CompaniesInn
Execute the documents by Shareholders and Directors and submit to CompaniesInn with supporting such as Identity and Address documents, Registerd office Adress Proof and NOC and other additional documents.
RUN Application (Optional)
RUN (Reserve Unique Name) is a web-based application for reserving the Company Name.
The name approved under RUN Process is valid for a period of 20 days from the date of approval. Company Incorporation documents are to be filed within the validity period of Company Name.
Filing of Company Registration Documents with MCA
Company Registration filing consists of preparation and filing of the flowing E-Forms:
1. e-Form INC-32 – SPICe Application
2. e-Form INC-33: e-Memorandum of Association (SPICe MoA)
3. e-Form INC-34: e-Articles of Association (SPICe AoA)
All the documents executed and attested as per documentation requirements has to be attached to the e-Form INC-32 / 33/ 34 and the e-Forms to be digitally signed with the Digital Signature Certificate (DSC) of all the proposed shareholders /representatives.
Verification by the Central Registrar of Companies (CRC)
The CRC verifies the application and if found the documents are in order, the Central Registrar of Companies shall register the Company and issue the following:
1. Company Incorporation Certificate
2. DIN for Directors
3. Permanent Account Number (PAN)
4. Tax Collection and Deduction Number (TAN) to the New Company.
Advantages of Private Limited Company
Business Credibitlity
A limited company is the most accepted business organization in India as its structure is well known to the public.
Limited Liability
Like any other incorporated business, a limited company is a limited liability organization. The owner's liability is limited to the extent of shares held in the company and ends once he pays for the shares.
Protection of Personal Assets to owners
Since the liability of owners is limited, their personal assets are protected against business risk as the company's liability is not the owner's liability.
Perpetual Existence
Assets and liabilities of a company belongs to itself and do not belong to the shareholders. Hence, the company will continue to be in existence even if the owner changes
Can sue and be sued
A limited company is like an artificial person created by law. Like any other person, it can sue and be sued before the court of law. This means that if a company defaults, others can take legal action against the company and likewise, the company can tak
Referance
- Aug 09, 2019