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Private Limited Company

Private Limited Company

What is Private Limited Company ?

One of the most popular legal entity in India is a Private Limited Company. In simplified terms, it is a proper company registration in India with the ministry of corporate affairs. It gives you rights for doing business anywhere in India or outside. MCA register your Pvt Ltd company and provide you a CIN Number with Certificate of Incorporation. At the end of the process, you have to simply open a current bank account on the basis of the Certificate and you can start your Company Operations.

Private Limited Company Rules

  • Require minimum 2 directors or partner.
  • Authorised Share Capital: 1 Lakh Rupees ( It’s just a share proposed value, doe’st not mean you have to invest 1 lakh rupees)

Benefits of Private Limited Company Registration

Below are the benefits of the private limited company –

  • Easily Setup and recommend to Growing Startups.
  • Limited Liability for Members.
  • More Credibility as Compare to others.
  • Easily raise funds from Investors.
  • ESOP Option are available to motivated Employees.
  • Name Protection available.

The necessity of Mandatory Compliance or Annual Compliance for Private Limited Company

Talking about the annual maintenance or compliance, its include the following things
  • Appointment of the Auditor with the statutory audit of the accounts.
  • Filings of the AGM, Annual Return and financial statement
  • Filings of the Income Tax Return for the same.

Documents required:-

  1. Proof of identity of all the shareholders and directors
  2. Proof of address of all the directors and the shareholders
  3. PAN number of all the shareholders and directors
  4. Utility Bill of the proposed office i.e. proposed registered office for the company
  5. A NOC (No Objection Certificate) from the landlord where the office of the company will be situated
  6. Director Identification Number (DIN) of all the directors
  7. Digital Signature Certificate (DSC) of the directors
  8. Memorandum of Association (MOA)
  9. Articles of association (AOA)