Private Limited Company
Registration
Step 1: Acquiring DSC or Digital Signature Certificate of Each Director of Proposed Company
The first step is to apply for the Digital Signature Certificate or the DSC of Each Director of the proposed company. This is according to The Information Act of 2000, which demands valid digital signature on all documents submitted. Affixing a DSC on each document is the safest way one can authenticate and sign each documents, on behalf of the company.
Step 2: Acquiring the DIN or Director Identification Number
Every director of the proposed company must obtain a Director Identification Number (DIN), which is mandatory for company registration. DIN is valid for a lifetime and can be used for directorship in multiple companies. To obtain a DIN, the director must submit the DIN-1 e-form on the MCA portal. If any personal details, such as address or contact information, change in the future, they can be updated by filing the DIN-4 form.
Step 3: Applying for Company Name Registration
In this step, you apply for the company name and register the company with its official address, directors, managers, and company secretary details. Form 1A is used to check and reserve a new company name or change an existing one. The proposed name must follow MCA guidelines, be unique, and reflect the company's business activities. If the first name application is rejected, you get one more chance to submit new names without additional fees. Further rejections require a fresh application with applicable fees.
Step 4: Applying for Incorporation of company
In a final step, following forms are submitted online to MCA for requesting MCA to issue a final certificate of registration: Form DIR-12, INC-7 & INC-8
Step 5: Apply for PAN, TAN in Name of New Company
Along with the Incorporation Certificate of a registering Company, MCA now also allots PAN and TAN of the new company.
Step 6: Open Current Account in Bank
We provide help in preparing necessary Board Resolutions for opening the Current Account of the company with any Govt./ Private Bank.
Step 7: File Intimation to ROC about Appointment of First Auditors of Company
This is another crucial statutory requirement to appoint the First Auditors of the company, within 1 month of incorporating a new company and Filing the relevant Form with MCA, to intimate the ROC about appointment of First Auditors of the company.
Inclusions in this package
- Digital Signatures Certificates (DSC) of 2 Directors
- Director Identification Nos.(DIN) of 2 Directors
- Company name approval certificate
- Digital copy set of MOA & AOA
- Incorporation certificate
- Company Stamp, PAN & TAN Nos. intimations
- Filing of Auditor Addition Form ADT-1
- Assistance in opening current account in Bank
Time Involved in the Process
Usual time involved is between 08-10 working days in incorporating a new company
Documents Required for Private Limited Company Registration
- Self-certified Copy of Pan Card of all Directors– 2 copies
- Four Colored passport size photograph of each Director
- Copy of any utility bill or bank statement in name of Directors.
- Mobile & Email of all Directors
- 2-3 proposed Name & Objects of Co
- Copy of Business proof of premises, where company will be registered
- Self-certified Copy of Address Proof all Directors– 2 copies - Any one of Passport/Voter id/Driving license/Aadhar card
- In case of rented premises- Rent Agreement + Latest electricity bill in name of landlord + NOC.
- In case of owned premises- Copy of Sale Deed + Latest electricity bill in name of Owner
FAQ
How many Directors and Shareholders are required for starting Private Limited Company?
Minimum 2 Directors and 2 Shareholders. Can be even family members or relatives or friends. Should be major
What is the minimum authorized and paid up share capital with which pvt co. can be started?
Rs 100,000
What significance is of authorized and paid up share capital?
- Fees payable to ROC depends upon amount of authorized capital. In case authorized capital is less and Private Limited Company requires more money in the business, then it will have to increase its authorized share capital.
- Authorized capital signifies maximum capital which can be raised by company. Paid up capital signifies how many shares have been actually held by shareholders and paid for by its shareholders. Paid up capital can be less than authorized share capital
Once company is registered India what other formalities are required before starting operations?
Once a new company is incorporated, it has to open its current account in bank and deposit paid up share capital money.
And thereafter obtain the GST Registration for your type of Business operations,
What are the periodical compliances which need to be done by Private Limited Companies? Do Simplitax helps in same?
Normally, a Pvt. Ltd. company has to do following compliances:
- Accounting or Book keeping [On daily basis]
- GST returns to be filed online on monthly basis
- TDS returns of Salary paid and vendor payment is to be filed quarterly, if applicable
- Tax audit has to be got done by CA and audit report needs to be collected.
- Balance sheet and Profit and Loss account and other financials need to be prepared and maintained.
- Minimum 4 Board meetings need to be held in one year
- Minimum 1 AGM needs to be held in a year
- Other secretarial compliances like maintaining minute book, registers, sending notices etc.
- Income tax return of pvt ltd co. needs to be filed online annually by 30th September
- ROC returns (approx. 2-4 in nos.) need to be filed annually within 30 and 60 days of AGM
- Other need based compliances
- Advance tax needs to be paid periodically
Do I need to file returns and do other compliance even if there are no operations in the company?
Yes, you need to file NIL returns, prepare balance sheet and profit and loss account and also get auditor’s certificates.