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Business Registration.
A private limited company is a business entity offering limited owner liability. It is apt for a small number of shareholders and allows up to 200 members along with flexibility in shares and shareholdings.
One of the most highly recommended methods for starting a business in India is to establish a private limited company, which provides its shareholders with limited liability while imposing certain ownership restrictions. When it is LLP, the partners will manage it. On the other hand, a private limited company registration allows for directors and shareholders to be separate entities.
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Registering a company in India has become incredibly convenient and accessible. At Vakilsearch, we have simplified the process to ensure a seamless experience, whether you want to register a private limited company or any other business structure. You can gain comprehensive insights into the registration procedure with few essential steps. The online registration system has made the entire process user-friendly and streamlined, eliminating any hassles.
Gather the necessary documents and get them verified for the incorporation process.
Apply for Digital Signature Certificate (DSC) and seek approval for your company name from MCA.
Acquire the second set of required documents and ensure their verification.
Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) for your company.
Upload the completed documents and forms for the final stage of company incorporation.
Selecting a company name involves a creative process influenced by factors like industry, target audience, and personal preference. The capital of a company can fluctuate significantly and is determined by the resources and investments necessary for initiating and running the business.
Within 30 days of company incorporation, every Indian company must appoint a practising, certified, and registered Chartered Accountant(CA).
Every year, individuals who possess a Director Identification Number (DIN) should undergo a DIN KYC process. During the company incorporation process, the company can get the DIN. This helps to verify the phone number and email address on file with the MCA.
The shareholders of the company must deposit the subscription amount specified in the MOA within 180 days of incorporation, and the company must create a bank current account. Therefore, to receive a business incorporation certificate, the shareholders of a company established with a paid-up capital of ₹1 lakh must deposit ₹1 lakh into the company's bank account. They should also file a copy of the bank statement with the MCA.
Every financial year, the MCA must get a copy of the financial statements from each company registered in India. A corporation that incorporates between January and March may elect to include the first MCA annual return in the annual filing for the following fiscal year. Forms MGT-7 and AOC-4 are the components of the MCA yearly return. The Directors and a working professional must digitally sign both of these documents.
Every financial year, businesses should file an income tax return using form ITR-6. The business should file the income tax before the deadline for each financial year, irrespective of the date of incorporation. The company's income tax return must be digitally signed using the director's digital signature.
| Company type | Ideal for | Tax advantages | Legal compliances |
|---|---|---|---|
| Limited Liability Partnership | Enterprises that focus on services or require little investment | Advantage on depreciation | Company tax returns to be pointed ROC returns to be filed |
| One Person Company | Sole proprietors peeking to limit their liability | Tax holiday for first 3 years under Startup India Higher advantages on depreciation No tax on compensation distribution | Business recoveries to be filed Limited ROC compliance |
| Private Limited Company | Companies that have a high turnover | Tax holiday for first 3 years under Startup India Higher advantages on depreciation | Business tax returns to be filed ROC returns to be filed An audit is mandatory |
| Public Limited Company | Companies with a an increased turnover | Tax exemptions under | Business tax returns to be filed. Compulsory Audits |
The MCA requires proper identity and address proof for private limited company registration in India. The following documents are the requirements for registering a company in India:
Note: Your registered office need not be a commercial space; it can be your residence too.
The Certificate of Incorporation is an official document issued by the Registrar of Companies (RoC) upon the successful registration of a private limited company in India. It signifies the legal existence of the company as a separate legal entity.
The Certificate of Incorporation serves as proof of the company’s legal existence and is often required for various business transactions, such as opening a bank account, entering into contracts, or applying for licenses and permits.
Vyapaarease offers a completely online private limited company registration process, allowing you to register your entity without leaving the comfort of your home. Our experts can complete the entire company incorporation process within 14 days.
Vyapaarease company registration package includes:
By following these steps, you can begin the process of forming your own private limited company. It is advisable to seek advice from professionals to make informed decisions and ensure seamless growth.
Legal Proof of Identity and Existence: The certificate proves the company’s identity and existence as a separate legal entity. It includes a unique Corporate Identification Number (CIN) issued by the Ministry of Corporate Affairs (MCA), acting as the company’s distinctive identifier.
The certificate confirms that the company has successfully registered with the Registrar of Companies (RoC), enabling it to initiate operations in accordance with the conditions specified in the Memorandum of Association (MOA).
1. Put into action your organisation's paperwork.
2. Set up a business banking account.
3. Establish a registered office and acquire a Corporate Identity Number (CIN).
4. Hire an accountant and auditors.
5. Develop a website and devise marketing strategies.
6. Attain startup recognition.
7. Register your trademark and apply for GST.
