Private limited company( Pvt. Ltd.)
Register your startup company as private limited with Gadrlegal Darbar Private Limited at the lowest Fees. Gadrlegal Darbar is an (Ministry of Corporate Affairs) & MSME registered company in India. Our experienced (10 Yrs+) CA/CS will draft & complete all the documentations on the same day.
Private Limited Company in India is one of the popular forms of business entities. Approximately 90% of companies in India are registered under Private Limited Company. There are more than 150,000 companies that are being registered on a yearly basis. It is a separate legal entity with limited liability and perpetual existence incorporated now under the Companies Act, 2013.
Required Documents
01
Passport Size Photograph
02
PAN Card
03
Registered Office Proof Copy of Electricity Bill / Water Bill / Gas Bill
04
Copy of Aadhaar Card
05
Address Proof
06
No Objection Certificate
Benefits that Legal Darbar provide to make a better Private Limited Company
Limited Liability
If a private limited company was in financial trouble and had to close, shareholders would not risk losing their personal assets.
Helpful in Startup India Registration
Under the Startup India scheme you can avail lot of the benefits like raise the funds, subsidy for the trademark registration etc.
Easy Transferable Ownership
It is easier to subscribe or leave the membership of the company. Also it is easier to transfer the ownership.
Selling the Business
As business Corporation value will be based on the business, not the owner, therefore making it easier to sell the company.
Succession
The company shall continue to exist till it's wind up in accordance with the provisions of the relevant law.
Raising Money
As per Companies act 2013 a company can sell shares to the public or can accept deposits from public and can therefore raise money easier than other business structure types.
Separate Property
A Company as a legal entity is capable of owning its funds and other properties. The property of Company is not the property of its shareholders.
Better Governed
Companies are governed by the companies Act, 2013 and have to follow various other regulatory procedures during the course of its governance.
Taxation
Companies are often taxed at a lower rate and are provided with better taxable benefits as compared to other forms of business organization.
Compliances for a Private Limited Company in India
To obtain a compliance certificate for private limited company registration, several key factors must be considered. These include:
2 board meetings in a calendar year with 1/3rd of the total number of directors or a minimum of 2 directors. The minutes are to be recorded.
An AGM is required to be conducted every year and there should be a gap of 15 months between each of the two AGMs.
Appointment of the Auditor within 15 days of the incorporation of the company through Form ADT-1 to the RoC.
Legal Darbar will helps you to make a better Private Limited Company which is a type of business that is held by stakeholders or shareholders privately. It is a popular legal structure for businesses in many countries which is common whole over the world including India. It will work under the guidelines of the Companies Act, 2013 in India which offers wide range of advantages, including LLPs protection, separate legal identity, and ownership restrictions to the shareholders. A (Pvt.Ltd.) can own properties, contracts, and it is responsible for its own debts. It typically takes a few days or a couple of weeks, depending on the documentation completeness.
Key aspects of a Private Limited Company:
- (LLP) Limited Liability Protection: The liability of shareholders is limited to the amount unpaid on their shares. Personal assets of shareholders are not at risk for company debts.
- Separate Legal Entity: Every company has its own legal identity which is separate from its shareholders and directors.
- Ownership Restrictions: The private limited company shares cannot be freely transferred without the permission of other shareholders. This will make ensure that the control will remains same or within in a small group.
- Members required: It needs minimum of 2 and a maximum of 200 members/shareholders (except employees or ex-employees who were shareholders).
- Board of Directors: A minimum of 2 directors are required, and at least one of them must be a from Indian residence.
- Requirement of capital: For starting a private limited company there is no need of a capital but for authorized capital is usually ₹1,00,000.
Legal Darbar will provide the best features for private limited company:
- Credibility: It efficiently enhances credibility with customers, suppliers, and investors.
- Ease of Fund the raising: It will raise funds from investors and banks more easily as compared to other business.
- Taxes: Some of the companies are eligible for various tax exemptions and deductions.
- Control on decision making: It will make control over decision making because ownership is limited to shareholders.
- Increase in Scalability: It provides a support over long-term growth and expanding structure.
Legal Darbar follow the Registration process in a very understandable way:
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- Make sure to obtain Digital Signature Certificate (DSC) for the directors.
- Then after DSC you can apply for Director Identification Number (DIN).
- Then choose a Company Name which should be unique and check for availability cases.
- After that File a Incorporation Form with the registrar of companies (ROC) which includes the Memorandum of Association (MOA) and Articles of Association (AOA).
- And at last make sure to obtain a Certificate of Incorporation when the ROC application approved.
Documents Required by Legal Darbar for Private limited company (PVT. LTD):
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- Documents required for Directors:
• Proof of Identity issued by the government only:
o Aadhar card (India)
o Passport
o Voter ID
o Driver’s license
• Recent proof of address showing your residence:
o Utility bill (electricity, water, etc.)
o Bank statement
o Rent agreement
o Aadhar card copy
• Passport-sized photographs of the directors and shareholders:
• Unique identification number(UIN): Obtained from the Ministry of Corporate Affairs (MCA) in India given to the directors and shareholders - Documents required for the Company:
• A document which outlines the company’s objectives and scope of activities which defines the relationship between the company and its shareholders called MOA (Memorandum of Association).
• A document that defines the internal regulations and management of the company called Articles of Association (AOA).
• A document used to verify the address where the company will be located called Registered Office Proof Identity.
o A rental agreement
o A utility bill in the company’s name
• A NOC ( no objection certificate) from the property owner is required. - Additional Documents (if needed):
• Passport
• Foreign Director Documents
• Bank Account Proof
- Documents required for Directors:
FAQs for Pvt. Ltd.?
A private limited company (Pvt Ltd) in India requires at least two members to established. The maximum number of members is 200.
The GST registration minimum threshold limit is determined by the type of business and its location. Businesses with a turnover of less than ₹40 lakhs for goods and ₹20 lakhs for services need not register for GST.
For filing Income Tax Returns (ITR) for a Private Limited Company in India, you need to use Form ITR-6.
ITR-6 is applicable for companies other than those claiming exemption under section 11 (i.e., income from property held for charitable or religious purposes).It must be filed electronically on the Income Tax e-filing portal with a digital signature certificate (DSC).
To check the availability of a company name, go to legal darbar site and use our online “search bar name availability tool”, where you can input your desired company name to see if it’s already registered with the state; you should also check for trademark availability to avoid potential legal issues.
Yes, NRIs (Non-Resident Indians) and foreign entities can register a company in India; they can establish private limited companies, public limited companies, or Limited Liability Partnerships (LLPs) subject to the Foreign Direct Investment (FDI) policy guidelines set by the Reserve Bank of India (RBI).
Yes, you can convert an OPC (One Person Company) into a Pvt. Ltd (Private Limited Company) legal darbar will help under the Companies Act, 2013, by following the prescribed process which involves amending the company’s Memorandum of Association (MOA) and Articles of Association (AOA) to comply with the requirements of a private limited company.
The primary advantage of a Private Limited company (Pvt. Ltd.) is limited liability, meaning the shareholders’ personal assets are protected from the company’s debts and liabilities, providing a shield against financial risk for the owners.
By managing documents, compliance, name approval, DIN, PAN, MOA, AOA drawing, and filing with the MCA for a smooth incorporation, Legal Darbar will assist with the registration of a private limited company.