Private Limited Company
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Private Limited Company Registration
Online Company Incorporation in India
Any business person wanting to establish an authenticated entity would prefer a Private Limited Company Registration over others. The predominant reason is that more privileges are given to the Private Limited Companies encouraging the startups to establish a concrete business structure. It is commonly utilised due to its multiple advantages to directors, including limited liability. This implies that in the event of company default, creditors can only seize and sell the company’s assets, not the personal assets of the directors.
Advantages of Private Limited Company
Incorporation Credit Availability
Having a private limited company is more credible.
Simplicity in obtaining financial aid from a bank.
It protects owners from risks, losses, and liabilities.
Increased Value In Marketplace
Increases the number of consumers.
Boost opportunities for massive growth and expansion.
Ease In Transfer Of Ownership
A stronger sense of security and monetary reinforcement.
Separate Legal Entity
independent of its owners and shareholders.
It is eligible for various tax deductions, exemptions & gov schemes
Access to Funding
It has better access to funding options compared to others.
Documents Required for Private Limited Company Registration
The following are the key documents required for private limited company registration in India:
PAN Card of shareholders and Directors. A valid passport is a must for foreign nationals.
Identity Proof of Shareholders and Directors, such as aadhar card and Voter ID / Passport / Driving License.
Director’s Address Proof of Shareholders and Directors, such as the latest Telephone Bill / Electricity Bill / Bank Account Statement.
Passport size photograph
Another requirement is the Passport size photograph of Shareholders and Directors. Here, it is important to ensure that this is the latest.
Business Address Proofs
Business Address Proofs such as the latest Electricity Bill / Telephone Bill of the registered office address
NOC or No Objection Certificate to be obtained from the owner(s) of the registered office
The Rental Agreement must be provided if the company’s registered office is in a rented office/commercial/other rented premises.
Foreign nationals or NRIs must apostille or notarise director documentation.
Checklist for Private Limited Company Registration
Private Limited Company
GST Registration After Private Limited Company Registration
After your Private Limited Company Registration process, you may need to register for Goods and Services Tax (GST), depending on the applicable regulations in your country. GST Registration is typically required for businesses that supply goods or services and meet the turnover threshold set by the tax authorities. However, GST registration is only mandatory if certain turnover limits are exceeded.
Annual General Meeting (AGM)
Holding an AGM within the prescribed time frame, where financial statements, reports, and other matters are presented to the shareholders.
Preparing and filing annual financial statements, including balance sheets, profit and loss statements, and cash flow statements, as per the requirements of the Companies Act.
Audit of Financial statements
Conducting an annual audit of the company’s financial statements by a qualified auditor and filing the audited reports with the authorities.
Appointing a qualified company secretary and ensuring compliance with secretarial requirements, such as maintaining necessary records, filings, and compliance certificates.
Making timely filings with the Registrar of Companies, such as the annual financial statements, annual returns, and other required forms and documents.
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Benefits of Using Makemysales Company Name Search Tool
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