Getting your private limited company incorporated with MCA

About This Product

Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34)

Features

1. Certificate of Incorporation


2. Permanent Account Number (PAN)


3. Tax payer Identity Number (TAN)


4. Two Digital Signature Certificate


5. Cover Two Director 

More About This Product

A Private Limited Company is a legal entity in its own right, allowing the business owner to keep their assets separate from the business itself. This means that the business owners aren't subject to any personal liability, as their work is undertaken as an agent for the company, rather than as an individual.

In a Private Limited Company, the shareholders are the owners and directors are the managers. However, not all directors' own shares, nor it is workable for every shareholder to run the company. Hence delegation of work among members and owners is important. So the directors are appointed to manage the company.

  • Profits are only shared between shareholders. ...
  • Limited companies are able to raise money by borrowing and through the share issue of ordinary shares .
  • Limited companies must be registered with the Registrar of Companies

In companies, profit is distributed in the name of Dividends based on the percentage of Shares held by them. To share profits means sharing dividend. It will be decided based on the % of the shareholding each of you holds


Information / Documents

Documents of Directors/Shareholder

  1. Passport Size Colour Photograph
  2. Pan Card of All Promoters
  3. Address Proof: Telephone, Gas, Electricity Bill or Bank Statement
  4. Identity Proof: Passport/Voter ID/Driving License


Documents For Registered Address

  1. Proof of Premises: Telephone, Electricity, Water Bill
  2. No Objection Certificate (NOC) From Owner


Frequently Asked Questions

Do I need a Chartered Accountant to register my company

Yes, a chartered accountant is important for a company registration, as it provides general accounting, internal auditing, accounting, outsourcing, income tax advisors, tax planning, etc.


What are the myths of a Private Limited Company?

There are certain myths associated with the Private Limited Company, they are as follows:

  • Private Limited Company is costly.
  • Meeting of shareholders must be conducted frequently.
  • The Tax rates are lower for the proprietorship and Partnership.


What is a Private Limited Company?

A private limited company is an individual legal entity which is separate from that of its officers. A limited company has its own assets and liabilities, profits and losses. The liabilities are limited to the Company. In other words, the officers are protected from financial liability should the company encounter any difficulties. This differs from those of a sole trader or partnership, where the assets and liabilities of the business belong to the individuals.


What are the advantages of trading as a limited company?

Perhaps the most attractive benefit of trading as a limited company is the aspect of limited liability. Essentially this protects the personal assets of the officers should the company run into financial difficulties.

Many of the costs and administrative requirements associated with running a limited company are now not much more than those of a sole trader or partnership. Limited companies also instil added confidence in suppliers and creditors; many large organisations will only conduct business with limited companies.

Finally, the ownership of a limited company can easily be divided up through the sale of shares. The shares can be further used as a means of generating capital.


Does registration of my company name also mean that my trademark is protected?

No. Company law is different from trademark law. You cannot stop someone using a trademark which is the same or similar to yours merely by registering your Company

Why Private Limited Company is the choice for Start-ups?

For the proper execution of the idea choosing the right form of business is important and for start-ups Private Limited is the best option for the following reasons:

  • Legal Compliances
  • Number of people required are low
  • Funding requirements can be fulfilled with the help of shareholders and financial bodies.
  • Limited liability of the members
  • Growth of Business can be done by converting a Private Limited to a Public Limited, but an LLP cannot be converted to a Private Limited hence it restricts the growth.
  • Even though Private Limited Company is expensive but to execute the Big idea into a successful long term business Private Limited Company is the best choice for start-ups.


How long is the company valid for?

Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time.


What are the basic requirements for naming a Company?

First ensure that company name is not similar to any other Private Limited, OPC, LLP or Public limited company. Also, do check If your first is not a registered trademark taken by anybody under the IP Act. Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives. While choosing the name make sure that name should contain the objective of the business like if the objective is I then word is Technology, Technosoft, IT consultancy.


What is PAN?

It is a unique 10-digit alphanumeric identification that is issued to each and every taxpayer, may it be Business, Individual, HUF(Hindu Undivided Family), Trusts, Foreign Citizens and more. This PAN number and the card is issued by the Income Tax Department which is of extreme importance as identity form. This card is used by the Income Tax department to keep a check on the transactions that can carry a taxable component. PAN card id required as evidence/proof/identity and even in transactions that is associated with a high value.


What is TAN?

A 10 digit alphanumeric number is issued by the Income-tax department which is known as Tax Deduction Account Number or Tax Collection Account Number(TAN). Any person who is responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS) needs to have a TAN.


What is DSC?

Digital Signature Certificates (DSC) is an electronic format of a certificate that represents the physical form of a certificate. These are specific certificates which give you authority to access information or services on the Internet or to sign legal documents. It works as a prove for the identity of a person example of certificates can be like a driving license, passport or any membership certificates. It's the same way as the physical documents are signed manually, the electronic documents, like e-forms, are signed by using the a Digital Signature Certificate.


What is DIN?

Director identification number is the unique number that is issued to existing Director or a Future Director of a Company. It is required to be submitted during the procedure for company registration. It is denoted as DIN. Often there are crisis situations when a company is created with money raised from the investors and public, then the director along with all the money vanishes which are not traceable if they don't have a DIN. To avoid such fraudulent cases and maintain a proper record of the company a DIN is necessary.


What is a Stamp Duty?

It is a tax that is demanded on documents. The stamp duty includes majorly the legal documents such as cheques, military commissions, marriage license, receipts and land transactions. When a physical stamp is attached to the document, it is denoted that, the stamp duty had been paid for particular document which was effective legally.