Why Do You Need to Incorporate a Business?

Incorporate a business in India offers numerous advantages and is a crucial step for entrepreneurs. Here are some key reasons why incorporating a business in India is important:

Legal Entity: Incorporation gives your business a separate legal entity status, distinct from its owners. This separation limits the personal liability of shareholders or directors to their investments in the company. It provides a protective shield that safeguards personal assets in case of business liabilities or debt.

Credibility and Trust: An incorporated business carries more credibility and trust among customers, suppliers, and potential investors. Having a legal entity demonstrates a commitment to professionalism and compliance with legal obligations, enhancing the reputation and reliability of the business.

Limited Liability Protection: By incorporating, shareholders' liability is generally limited to their investment in the company. Personal assets and savings are protected from business debts, losses, or legal claims. Limited liability protection provides a sense of security and encourages entrepreneurship without the fear of personal financial ruin.

Access to Funding: Incorporating a business creates opportunities for accessing capital and attracting investment. Investors, banks, and financial institutions are more likely to provide funding or credit to an incorporated entity due to its legal structure and potential for growth. It opens doors for equity financing, bank loans, and partnerships.

Perpetual Existence: An incorporated business enjoys perpetual existence, irrespective of changes in ownership or management. The company's existence is not contingent on the lifespan or withdrawal of its founders or shareholders. This ensures stability, continuity, and the ability to carry on business operations for the long term.

Tax Benefits and Incentives: Incorporating a business in India offers various tax benefits and incentives provided by the government to promote entrepreneurship and economic growth. These may include tax deductions, exemptions, subsidies, or special economic zone benefits, depending on the nature of the business and its location.

Ease of Transferability: Incorporation enables easy transferability of ownership through the sale or transfer of shares. This facilitates business expansion, attracting new investors or partners, and allows for the smooth exit of existing shareholders. The ability to transfer ownership interests provides flexibility and exit options.

Brand Protection: Incorporating a business allows for the registration and protection of the company name, logo, and intellectual property rights. Trademark registration helps prevent competitors from using similar names or infringing on brand identity, safeguarding the business's unique identity and market position.

Expansion and Hiring: Incorporating a business provides a solid foundation for growth, expansion, and hiring employees. It instills confidence in potential employees, who see an incorporated entity as a stable and legitimate employer. This allows for the recruitment of talent and scaling operations to meet growing demands.

Compliance and Governance: Incorporation brings with it the requirement to comply with legal and regulatory obligations. While this may involve some administrative work, it ensures transparency, accountability, and adherence to corporate governance principles. Compliance protects the interests of shareholders, customers, and other stakeholders.

In conclusion, incorporating a business in India offers legal protection, credibility, access to funding, tax benefits, and the ability to attract investors. It provides a solid legal framework, allowing for expansion, brand protection, and perpetual existence. By opting for incorporation, entrepr

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Common Mistakes in Pvt Ltd company Registration

Inadequate planning and research are also common mistakes that entrepreneurs make during the Pvt Ltd company registration process. For instance, entrepreneurs may not properly research and understand the industry or market they plan to operate in. This can lead to incorrect valuation of the business, making it difficult to attract investors and secure funding. Another mistake is not considering the long-term goals and objectives of the business, which can result in issues down the line. Additionally, some entrepreneurs may not take the time to identify potential risks and challenges that could affect the business. Working with a professional firm like Kanakkupillai can help entrepreneurs address these issues and avoid common mistakes in Pvt Ltd company registration process.

Private Limited Company Registration

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What is Private Limited Company?

https://youtu.be/ADD8omyKAcw In India, pvt ltd registration can be completed online through Indilegalonline. A private limited company is a company that  offers limited liability or legal protection for its shareholders but that places certain restrictions on its membership. It is considered a separate legal entity having  perpetual succession, with liability of its shareholders limited to the capital being contributed by them. It provides credibility to business in the eyes of financial institution, supplier and potential clients. As it makes easier for companies to get loans at favourable terms from banks or convincing potential clients while entering into deals. There are different type of business structure in India and type of companies in India, by clicking the link in this sentence, you can know details about that along with private limited company.

Eligibility for pvt ltd registration in India

Minimum Person Requirement Minimum Two person are required to start a private limited company in India. The same two person can become shareholder and director of the company simultaneously.  However, maximum 200 person can become shareholder in the private limited company. Minimum Capital Requirement Capital of the business is depending on the need of the business and statutory  no minimum capital is required to start the private limited company. However, minimum authorised and subscribed share capital required for the private limited company is One Lakh rupees (Rs. 1 lakh) Unique Name The name of the private limited company should be unique  and should not be similar to the any existing company or trademark. Resident Director Among director, one person must be resident Indian.

Documents required for pvt ltd registration in India​

Identity Proof (Directors & Shareholders) (1) PAN cards for Indian national (mandatory) (2) Passport for foreign nationals (mandatory) (3) Proof of nationality for foreign nationals. (4) Proof of Identity: (Voter ID/ Passport/Driving License) (any one) (5) Resolution of the board of company /LLP for authorisation  of director/partner (6) Passport size photos Address Proof (Directors & Shareholders) Bank Statement,  Electricity /Telephone/Mobile bill) (Not older than 2 months) (any one) Proof of Registered Office (1) Conveyance /Lease deed / Rent agreement etc. along with rent receipts (any one) (2) Copy of utility bills (Telephone/Gas/Electricity bill) (not older than 2 months) (any one) (3) NOC from landlord Other Documents DSC forms (physically signed) Note All the documents in case of foreign director should be additionally complied as follows: (1) Notarised (if residing is commonwealth countries) (2) Notarised and apostiled (if residing in country which is signatory to  Hague convention) (3) Notarised and consularied (if not covered in  above categories).

Procedure for Private Limited Company Registration in India​

- Step 1: Reservation of name of company - Step 2: Take DSC of directors and shareholders - Step 3: Approval of other regulators (if required) - Step 5: Get certificate of registration , PAN and TAN - Step 5: Open Bank Account of Company

Benefits of Private Limited Company Registration in India​

Limited Liability of Shareholder Liability of shareholders of the private limited company are limited only up to the  shares subscribed by them and should not be  personally liable for the debts  of the company  in case company are unable to pay its liabilities. Separate Legal Entity Company legal entity are separate than its shareholders/ promoters. Perpetual Existence Company existence will go for even and its existence will not be affected  by the death of share of transfers to other Capacity to Sue and to be Sued Company can take legal action against another and also other person can take legal action against  company, separate for directors, shareholders and promoters. Ownership of Properties Private limited company can sale, purchase and own the properties  like individual. Borrowing Recognition Companies are more recognized in terms of financial assistance/ borrowing from banks and financial institution rather organization which are not company form of organization

Frequently Asked Questions (FAQ)

How to register a company in India? Following the steps to register a company in India:- (1) Obtain Digital Signature Certificate (DSC) Digital signatures are required to file the forms on the MCA portal. DSC is mandatory for all the proposed directors and the subscribers of the Memorandum of Association (MoA) and Articles of Association (AoA). We can get DSC on your behalf in just 2 working days. (2) Director Identification Number (DIN) DIN is an identification number for a director and it has to be obtained by anyone who wants to be a director in a company. DIN can be obtained while filing the SPICe+ form, i.e. company registration form. Through SPICe+ form, DIN can be obtained for a maximum of three directors. If there are more directors in the company and they do not have a DIN, the company can be incorporated with three directors and it has to appoint new directors later on after incorporation. The appointed directors can obtain DIN by filing the DIR-3 form since only the proposed directors of an existing company can apply for DIN in the SPICe+ form. (3) Registration on the MCA Portal  SPICe+ form is to be submitted on the MCA portal. The company must also reserve its name by submitting two proposed names in the Part-A of the SPICe+ form. (4) Certificate of Incorporation The Registrar of Companies will examine the application. Upon verification of the application, he will issue the Certificate of Incorporation of the Company. The Certificate of Incorporation is issued with PAN and TAN as allotted by the Income Tax Department. This is basic of how to register a company in India. How many days will be required to register a company in India? Under Companies Act 2013, to register a company in India is very easy and completely online and no physical presence of promoter is required. It takes around 2 to 3 weeks subject to document are completely ready before starting process for register a company in India. How do I check status of my pvt ltd registration? Following are the steps given below for checking the status of the private company registration:- Step 1: Go to the MCA website. Step 2: Go to ‘MCA Services’ tab. In the drop-down click on ‘View Company/LLP Master Data’. Step 3: Enter the companies CIN. Enter the captcha code. Click on ‘Submit’. Now you will be able to view the exact status of your registration process. Whether pvt ltd registration in India is completely online? Do I need to submit my papers anywhere physically? Yes, pvt ltd registration in India is completely online.Today, online company registration in India and other regulatory filings are paperless; documents are filed electronically through the MCA website and is processed at the Central Registration Centre (CRC), a dedicated backoffice for Company and LLP Registration process. Upon completing all registration formalities, the Registrar of Companies’ issues a digitally signed Certificate of Incorporation (COI). Electronic certificates issued by the ministry can be verified by all stakeholders on the MCA website itself. How to Register DSC on MCA? Following are process to register DSC on MCA:- (A) Step by step process to regiser DSC on MCA of Director (1) Click on the 'Register DSC' link available on the MCA portal homepage. (2) On the next screen, click on the 'Director' link on the left hand panel and fill-up your DIN. Please ensure that the DIN is approved and typed correctly. (3) System shall verify that the DIN is valid and approved. If the DIN is filled incorrectly or DIN filled is not approved, system will throw an error message to that effect. (4) Fill-up rest of the particulars and ensure that details filled are as per DIR-3. If the applicant has filed DIR-6, then fill the details as submitted in DIR-6 form. (5) Click on the 'Next' button. The system would verify the details. (6) If the details filled do not match with DIR-3/ DIR-6, as the case may be, for the reason that you do not have your DIN application details, you can get the details from the company in which you are a director. (7) If the details are correct, the system would prompt you to select the DSC (8) Click on the 'Select Certificate' button to browse and select the certificate. Please ensure that the selected DSC belongs to the applicant, whose particulars are being registered (9) System shall validate the DSC. If the selected DSC is already registered against given DIN, system will give an informatory message. If a different DSC is already registered against the given DIN, system will ask if the user wants to update his/ her DSC. (10) Type the displayed system generated text for verification in the box provided. (11) Click on 'I agree' button to agree to the declaration that details furnished are correct. (12) Click on the 'Submit' button to register your DSC. (13) Acknowledgement message is displayed to the user. (14) User can take a print-out of the acknowledgement. (15) The applicant can click on the 'Reset' function to clear the data in the fields. (B) Step by step process to register DSC on MCA by Manager’s/Secretary’s/CEO's/CFO's (1) Click on the 'Register DSC' link available on the MCA portal homepage (2) On the next screen, click on the 'Manager/Secretary/CEO/CFO' link on the left hand panel and fill-up the particulars. Please ensure that the Income tax PAN and other details are as per the information filed in DIN-3 Form. (3) Click on the 'Next' button. The system would verify the details. (4) If the details are correct, the system would prompt to select the DSC. (5) Click on the 'Select Certificate' button to browse and select the certificate. Please ensure ,that the selected DSC belongs to the applicant, whose particulars are being registered. (6) System shall validate the DSC. If the selected DSC is already registered against given PAN, system will give an informatory message. If a different DSC is already registered against the given PAN, system will ask if the user wants to update his/ her DSC (7) 'Type' the displayed system generated text for verification in the box provided (8) Click on 'I agree' button to agree to the declaration that details furnished are correct. (9) Click on Submit button to register your DSC. (10) Acknowledgement message is displayed to the user. (11) User can take a print-out of the acknowledgement.. (12) The applicant can click on the 'Reset' function to clear the data in the fields (C) Step by step process to register DSC on MCA of Practising Professional's  (1) Click on the 'Register DSC' link available on the MCA portal homepage (2) On the next screen, click on the 'Practising Professional' link on the left hand panel and fill-up the particulars. Please ensure that the details filled as per the records of your professional institute. (3) Click on the 'Next' button. The system would verify the details from the records provided by the concerned professional institute. (4) If the membership or enrolment number is wrong or details filled do not match with the records provided by the professional institute, system will throw an error message to that effect. If you do not have the details as recorded by your Institute, you can get the details from your Institute. (5) If the details are correct, the system would prompt to enter the income tax PAN. (6) The applicant is asked to verify and confirm the PAN. On confirmation, the system would prompt to select the DSC. (7) Click on the 'Select Certificate' button to browse and select the certificate. Please ensure that the selected DSC belongs to the applicant, whose particulars are being registered. (8) Type the displayed system generated text for verification in the box provided. (9) Click on 'I agree' button to agree to the declaration that details furnished are correct. (10) Click on the 'Submit' button to register your DSC. (11) Acknowledgement message is displayed to the user. (12) User can take a print-out of the acknowledgement. (13) The applicant can click on the 'Reset' function to clear the data in the fields. What are some common compliances after pvt ltd registration? Following are some of the compliances would be required to complete after private company registration:- (1) Auditor Appointment: All companies registered in India must appoint a practicing  Chartered Accountant within 30 days of incorporation as statutory auditor of company. (2) Director DIN KYC: All director on the Board of company must complete DIN KYC each year to validate the address, phone and email address on record with the Ministry of Corporate Affairs (MCA). (3) Commencement of Business: Within 180 days of incorporation, the company must open a Bank Current Account and the shareholders must deposit the subscription amount mentioned in the MOA of the company and and file the bank statement with the MCA to obtain a commencement of business certificate. (4) MCA Annual Filings: All companies registered in India must file a copy of the financial statements with the Ministry of Corporate Affairs (MCA) each financial year. MCA annual return consists of Form MGT-7 and Form AOC-4. (5) Income Tax Filing: All companies must file an income tax return using Form ITR-6 each financial year. Who is Company Registrar or Registrar of Companies (ROC)? Company Registrar or Registrars of Companies (ROC) appointed under Section 609 of the Companies Act covering the various States and Union Territories are vested with the primary duty of registering companies and LLPs floated in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the Act. These offices function as registry of records, relating to the companies registered with them, which are available for inspection by members of public on payment of the prescribed fee. The Central Government exercises administrative control over these offices through the respective Regional Directors. However, states like Tamil Nadu and Maharashtra, have more than one ROC. Some ROCs have jurisdiction of two or more states/UT like Chennai ROC has jurisdiction of Tamil Nadu state and UT of Andaman and Nicobar Islands. The Registrar of Companies also certifies that LLPs (Limited Liability Partnerships) comply with the legal requirements contained in the Limited Liability Partnership Act, 2008. What is Director Number (DIN)? The Director Identification Number (DIN) is an identification number for a director and it has to be obtained by anyone who wants to be a director in a company. The DIN of all the proposed directors of the company along with the name and the address proof are to be provided in the company registration form. DIN can be obtained while filing the SPICe+ form, i.e. company registration form. SPICe+ is a web-based company registration form, through which DIN can be obtained for a maximum of three directors. If there are more directors in the company and they do not have a DIN, the company can be incorporated with three directors and it has to appoint new directors later on after incorporation. What is Digital Signature Certificate (DSC)? A Digital Signature Certificate (DSC)  is  a secure digital key  that certifies the identity  of the holder issued by a certifying authority. The DIN of all the proposed directors of the company along with the name and the address proof are to be provided in the company registration form. DIN can be obtained while filing the SPICe+ form, i.e. company registration form. What is Private Limited Company? “Private company” means a company having minimum authorised and subscribed capitalof Rs. 1 Lakh  and which by its articles (a) restrict the right to transfer its shares (b) except in case of one person company, limits the number of its members 200.  Shares jointly held will be treated as a single member. (c) Prohibits any invitation to the public to subscribe for any securities of the company. (d) Minimum 2 person  are required to  start the private limited company in India. The same two person can become shareholder and director simultaneously. However, maximum 200 person can become shareholder in the private limited company in India. Who are owners of the private limited company? The shareholders of the company are owners of the company. What are capital requirement to start a private limited company? Capital of the business depends on the need of the business and statutory no minimum  capital is required to start the private limited company. What are capital requirement to start a private limited company? Capital of the business depends on the need of the business and statutory no minimum  capital is required to start the private limited company. Who are eligible to become director? Any individual who is 18 year  old or above, can become  member of the private limited company. Individual can be resident Indian, foreigners or NRI. Read the full article

Private Limited Company is a company that is owned by non-governmental organizations. A private company does not offer its shares to the general public for subscription. The liability of these members is limited to their own shares. These limitations are defined under Companies Act, 2013

Most Pocket-friendly Cost of Registering a Pvt Ltd Company in India

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Pvt Ltd Company Registration in Ahmedabad

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How to do Private Limited Company Registration

            Private Limited Company Registration

1. What Is A Company Registration

Registering your company with the Ministry of Corporate Affairs is company registration. You can register your company under a number of different categories like Public or Private but we’ll be discussing the later here. Moreover, how to carry out a Pvt Ltd Company registration?

2. What Is A Private Limited Company?

A Private Limited Company is a company with two or more members. Private Limited Companies are the most common incorporation in India. Subsequently, they’re also the most popular. Furthermore, in a Pvt Ltd company, there cannot be more than 200 partners. Free trade of stocks cannot be carried out of such a company.

3. What Is A Pvt Ltd Company Registration?

The Ministry Of Corporate Affairs allows companies to register as per their ownership. One of those registrations is for a Pvt Ltd company. To sum up, a Pvt Ltd company registration allows you to carry out business across India and the world.

4. Documents Required For The Incorporation Of A Private Limited Company

PAN Card of the company directors

Address proof of the directors.

A Simplified Proforma for Incorporating Company Electronically (SPICe)

A Memorandum of Association of Company (MoA)

An Article of Association (AOA)

Passport of the director in case he/she is a foreign national

Registered office proof of the company office

Identity and address proof of all the shareholders of the company

If another incorporation is a shareholder of the company then the incorporation certificate of the company has to be presented for the incorporation of a Private Limited company.

5. How To Carry Out A Pvt Limited Company Registration?

Firstly, you’ll need to get Digital Signature Certificates for your Directors. DSCs as they’re commonly known as are required when you fill online forms for the Ministry of Corporate Affairs.

Secondly, you’ll have to obtain a Director Identification Number (DIN) from the Ministry of Corporate Affairs. DINs are valid for a lifetime unless surrendered or withdrawn.

You’ll need to make a reservation for a name. This can be done by filing e-form INC-1. Subsequently, you’ll have to list down 6 names in preferential order.

Lastly, once you’ve gathered the above-mentioned documents and permissions you’ll have to make an online application and pay the fee for Pvt Limited company registration.

6. How Taxolawgy Helps You?

Firstly, we give you access to the best experts in the industry.

Secondly, it’s not expensive at all

The process is based on minimum paperwork

Lastly, it’ll be hassle-free for you

7. Guidelines To Follow While Carrying Out A Name Reservation

The name you apply with should be easy to spell and remember

The should provide a distinct identity to the company

Furthermore, it should be short & simple

Moreover, the name should adhere to public policy

The name you choose should not trigger any copyright or trademark of an already existing name or entity.

8. How Long Is This Registration Valid For?

Pvt Ltd company registration is valid as long as the company is in succession and inherited by someone. Furthermore, the company also has to meet with its annual compliances.

9. What Is A Pvt Ltd Company Registration Fees

A Pvt Ltd company registration fees can range anywhere from INR 6K to 20K depending on your consultant. If you’re looking for cheaper options, we at Taxolawgy can connect you to the cheapest and the best experts out there.

10. Time Taken For Registration

It normally takes around 2 to 3 weeks to register a Pvt Ltd company. But, if you’re in a hurry you should take help of an expert.

11. Why Choose Taxolawgy?

Firstly, we give you the best services at affordable prices.

Easy to use online services.

Also, reduced time through minimum paperwork.

12. Pvt Limited Company Registration Done

When your Pvt Ltd company registration is complete you’ll get a Certificate Of Incorporation (COI). The COI has the PAN number printed on it. Furthermore, you’ll be eligible for all the benefits of an incorporated company.

Register Private Limited Company online in shortest possible time and minimum fee.No hidden fee,guaranteed satisfaction,expert CA/CS assistance.

Process of PVT Ltd Company Registration

This article will help you to deeply understand the registration process for a private limited company and to set up a private limited company in India. Step 1: Apply for DSC & Din NumberStep 2: Apply for the name availabilityStep 3: Do the file e-MOA & AOA

Read More Step- https://govinddigi.medium.com/what-is-the-process-of-pvt-ltd-company-registration-242fffe71e46

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Pvt. Ltd. Company Registration in India Online

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