Procedure To Register Private Limited Company

A private limited company is the most popular business enterprise in India, it is the best option for startups because the private limited company registration cost is quite reasonable and the benefits are very huge. The benefits of private limited are limited liability which means the directors and shareholders are not personally liable for any debt or loss incurred by the company, the company has its own and separate identity which makes it different from its stakeholders, the company can hold property on its name including trademark, the company can sue any other person or party, the company is in existence even after the changes in its shareholding and directorship, there is no need to file any renewal application once it is registered. Minimum 2 people are required to start the company with no capital requirement. As it is regulated by the Ministry of Corporate Affairs it gains the trust of the investors including banks and financial institutions and it is easy to get financial support from them. After registration, the company has to do all the compliance as mentioned in the companies act, income tax act, and other applicable act few compliances are Director KYC, Income Tax Return (ITR), conducting board and shareholders meeting, auditor appointment, ROC filing, etc. if the company fails to do compliances, then the company and directors are liable to pay penalties. So it is always better to do the compliance on time.

Documents Required For Private Limited Company Registration

Director and shareholder

• 1. PAN
• 2. Aadhar card
• 3. Id proof (voter id/ driving license/ passport); anyone
• 4. Address proof (bank statement/ electricity bill/ mobile bill/ telephone bill); anyone

Office Address Proof

• 1. House tax receipt or sale deed if owned and rent agreement if the property is rented
• 2. Utility bill (gas bill/ electricity bill/ mobile bill/ telephone bill); anyone
• 3. NOC from the person whose name is mentioned in the bill

NOTE: All the address proof as mentioned above must be latest and should not be older than 2 months.

Procedure To Register Private Limited Company

1. 1. Name Approval: The first step to start the company registration process is with the name reservation application and once it is approved it is valid for 20 days only. The name should be unique and not identical with the existing company or LLP, the approval is always dependent upon the registrar.
2. 2. DSC: The incorporation form cannot be filed until it is signed by the digital signature or DSC it is equivalent to the physical signature. In preparation for DSC, there is certain verification which the applicant has to be made and it is mobile, email and video verifications.
3. 3. Preparation of Documents: After the name is approved by the registrar the documents shall be drafted and signed by the directors of the company. These documents will be submitted to the registrar as an attachment of the form.
4. 4. Filing of Final Form: Once all documentation is completed the final stage left which is the submission of the final form to the registrar and it will be submitted along with all the relevant documents.
5. 5. Issuance of Certificate: If the registrar is satisfied with the forms and documents then he will grant a certificate of incorporation and along with that they will issue PAN, TAN, and DIN of the directors.

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