Private Limited Company Registration

Company Registration In India

Private Limited Company Registration is preferred for startups and businesses seeking robust market development. Complying with the Companies Act 2013 and governed by the Ministry of Corporate Affairs (MCA), pick this registration option because it works well for different types of businesses.

Private Limited Company Registration Overview

Meaning of Private Limited Company

Under Section 2(68) of the Companies Act 2013, a private limited company means a company that, by its articles:

• Restricts the right to transfer its shares.
• Limits the number of its members to 200.
• Prohibits any invitation to the public to subscribe to any company securities.

Private limited company registration is required when starting a business and needs a legal structure that you can later grow up to the funding stage. The registration process can be done comfortably anywhere in India with proper documents and security of personal information.

Benefits of Private Limited Company in India

Private limited company registration, has several benefits. Some of the benefits are given below  

☑️Separate Legal Status

Once you register a private limited company, it is considered an artificial person and treated as a separate legal entity. It can possess assets in its name, induce liability, sue, and be sued in its name.

☑️Limited Liability

The liability of a company’s members is limited, which extends only to the face value of the company shares owned by them. So, if the company suffers debt, its shareholders only have the responsibility to repay the amount of shares held by them and not extend to their assets.

☑️Exists Till Eternity

Since a Private Limited Company is an artificial person, it continues to exist until it is wound up. This means that the company shall continue to survive irrespective of death insanity insolvency, or retirement of its founding members, directors, or shareholders.

☑️Special Exemptions

If your company is registered for charitable purposes, like an NGO or any other not-for-profit organization, then the government has certain provisions to grant them tax exemptions under Section 8 of the Companies Act, 2013.

☑️Better Market Capability

Once your business is registered, a company, being a separate entity, has to follow certain rules set by the MCA, which elevates its credibility in the market and builds confidence in its suppliers, clients, and vendors. Higher credibility equals better business.

☑️Minimum Capital

No minimum paid-up capital is required for private limited company registration. Investments completely depend on your business needs.

Process of Pvt Ltd Company Registration in India

In a few steps, let us help you understand this complex of private limited company registration. Follow the process below for the Pvt Ltd company registration.

1. Filling of the Application for Name Reservation

This step involves choosing a unique name for your private limited company and reserving it with the Ministry of Corporate Affairs (MCA). You can use the RUN form to apply for a name reservation. If the name is unique and not already in use, the MCA reserves it for 20 days. You can apply for up to 2 names in a single RUN form.

2. Obtaining Digital Signature Certificates (DSC)

All proposed first directors and subscribers of the company must obtain Digital Signature Certificates (DSC). DSCs are essential for digitally signing and attesting the necessary forms for submission to the MCA.

3. Obtaining a Director Identification Number (DIN)

Once DSCs are obtained, the proposed directors should apply for Director Identification Numbers (DIN) by filling out FORM DIR 3. DIN is a unique identification number for directors, and it must be approved by the Registrar of Companies.

4. Preparation and filing of Incorporation Documents

All first directors and subscribers of the private limited company must provide their individual KYC (Know Your Customer) documents, including proof of identity, proof of residence, and proof of income. These documents are then uploaded to the MCA website as part of the application for the incorporation of the company. Issuance of Certificate of Incorporation

After the successful completion of the registration process, the last step is the issuance of a certificate of incorporation. With zero hindrance, we get your certificate issued on time and you will soon be registered as a private limited company.

All the above documents are then uploaded on the MCA website as an application to the Registrar of Companies for Incorporation of the company.

Documents Required for Pvt Ltd Company Registration in India

The documents required for the registration of a private limited company are compiled below in two manners,the first is personal documents of an individual and the second mentions the address and place of business proof required by the registering authorities  

For Directors

• PAN card and Aadhaar card
• Address proof (utility bills, Voter ID, driver's license, or passport)
• Identity proof (Voter ID, driver's license, or passport)
• Contact details along with email ID
• Passport-sized photographs

For The Company

• Proof of office space (ownership or rental agreement)
• No objection certificate (NOC) from the landlord if the office space is rented
• Address proof of the office space (utility bills)
• Email ID of the proposed company

Please note that the above information is based on general requirements, and it's always recommended to visit the official website of the Ministry of Corporate Affairs in India for the most up-to-date and accurate information on company registration procedures.

Procedure of Pvt Ltd Company Registration in India

• Consultation: Begin with our personalised consultation. Our experts understand your business needs and guide you through the process, addressing your queries.

• Document Collection: Submit the required documents online. We streamline the collection process for a user-friendly and secure experience.

• Application Preparation: Relax as our experts prepare your Pvt Ltd registration application with precision along with full adherence to legal requirements and regulations.

• Submission: Experience a smooth process as we submit your application promptly. Opt for our Fast-Track service for a guaranteed 10-day submission.

• Approval and Compliance: Once submitted, our team diligently handles the approval process. We guarantee compliance with all regulatory norms for a smooth approval journey.

• Documentation Dispatch: Your approved documents are swiftly dispatched to your doorstep, completing the hassle-free Pvt Ltd registration with Taxlegit.

Private Limited Company Registration Fees

Get closer to success with us. Register your private limited company online for an unbeatable fee of just ₹1999/-*. Our budget-friendly solution means a seamless process, expert guidance, and legal compliance. Elevate your business without the hefty price tag—trust Taxlegit to pave the way for your success in the corporate world!

Comparative List of Different Types of Business Structures in India

Why Taxlegit

Private limited company registration in India is a time-consuming and expensive process that requires a lot of care and attention, even if the registration process is now online. Our experienced team at Taxlegit comes to your aid and makes sure this whole process is accurate, adequate, and with minimal hassle. Our team of experts has helped over 500 businesses like yours with successful company registration.

At Taxlegit we ensure you do not get confused between documents, forms, KYCs, etc. Let us handle this while you focus on planning and executing your business.

we can assist you not only with Pvt Ltd Company Registration but also with the ISO certification process ensuring that your business adheres to international standards. ISO certification can open doors to new opportunities and markets, and our experts are here to guide you through the entire certification journey. Contact us today to learn more about how ISO certification can benefit your business.