Private Limited Company

Private Limited Company Registration in just 7 Days

Benefits – Why one should go for Private Limited Company Registration in India?

Starting a private limited company offers many advantages. Some of them are as follows:

  • A registered private limited company increases the credibility of your business.
  • Help owners from personal liability and protects from other risks and losses.
  • Draws more customers
  • Ease in obtaining bank credits
  • Offers limited liability to preserve your company’s assets
  • Greater funds supplement and more attractive stability
  • Enhance the potential to grow big and expand

Now, let’s discuss some of the benefits in detail;

  • Limited Liability

The responsibility of the members of a private limited company is restricted to their share only as the private limited company is a separate legal entity.

  • Separate Legal Entity

A private limited company is a separate legal entity which possess all the rights to sue or to be sued. It acts an artificial person which can buy a property on its own name.

  • Credit Availability

A private limited company can obtain funds from the debentures as well as the stockholders. Registered Private limited company is considered as a corporate entity that attracts various angel investors and venture capitalists that helps them to expand and raise their funds for the growth of their business.

  • Perform Internationally

The private limited companies supports Foreign Direct Investment in which other type of firms requires appropriate licensing and approval from the administration for foreign investments.

  • Perpetual Existence

A private limited company has a lifelong existence. Private limited companies are considered as separate legal entities and are separate from the existence of their owners. It means they cannot be dissolved or end because of the death, retirement or insanity of any of their member/ director/ shareholder.

  • Enhanced Value In Market

A registered private limited company is considered more trustworthy as compared to the non-registered ones. Information regarding the registration of private limited company can easily be obtained from the website of Ministry of Corporate Affairs. Vendors, suppliers and investors trust them over the other business structures. As a result, it enhances the brand value of the company amongst the customers and other investors and suppliers.

  • Ease In Transfer Of Ownership

It is quite easy to transfer equity to new members and issue fresh shares in private company.

What are the basic requirements of Private Limited Company Registration in India?

There are few requirements to be known before initiating a Private Limited Company in India;

  • The private limited company must have a unique name which should not be same as any other registered company and trademark.
  • It is mandatory for a private limited company to have a minimum two directors.
  • As well as it is necessary to keep in mind that the private limited company should have minimum two shareholders.
  • All directors & members of private limited company should have digital signature certificate which will be used to register a private limited company.
  • There is no minimum capital required for initiating a private limited company.
  • The process of online company registration is quite simple; make sure that you have a unique name for your company which will surely help you with quick company registration.
  • You must avoid any offensive name for your private limited company registration.

How we can help you with Private Limited Company Registration?

Business Entities Comparison Guide

Proprietorship

  • A maximum of 1 member is needed;
  • The entity is not considered as a separate legal entity;
  • The liability of members is unlimited;
  • The Registration of entity is not compulsory;
  • The transferability option is only as an individual;
  • The profit and losses of the business should be reported in the personal income tax return of the sole proprietor. The business itself is not taxed.
  • The Income Tax Return is filed with the Registrar of Companies.

Partnership Firm

  • A minimum of 2 and maximum of 20 members are needed;
  • The entity is not considered as a separate legal entity;
  • The liability of members is unlimited;
  • The Registration of entity is optional. The entity can be registered under the Partnership Act, 1932
  • The transferability option is available only up to 30% of the Company profit only.
  • The Partnership Firm is liable to pay income tax at the rate of 30% of Company profit.
  • The Income Tax Return is filed with the Registrar of Companies.

LLP

  • A minimum of 2 members are needed. There is no limit on the maximum number of members;
  • The entity is considered as a separate legal entity;
  • The liability of members is limited;
  • The Registration of entity is done under MCA;
  • The transferability option of LLP is 30% of Profit Plus CESS and Surcharges applicable;
  • The LLP is liable to pay income tax at the rate of 30% of Profit Plus CESS and Surcharges applicable;
  • The Income Tax Return is filed with the Registrar of Companies.

Private Company

  • A minimum of 2 and maximum of 200 members are needed;
  • The entity is considered as a separate legal entity;
  • The liability of members is limited to the extent of share capital;
  • The Registration of entity is done under MCA.
  • The transferability option of Private Company LLP is 30% of Profit Plus CESS and Surcharges applicable;
  • A Private Company is liable to pay income tax at the rate of 30% of Profit Plus CESS and Surcharges applicable.
  • The Income Tax Return is filed with the Registrar of Companies.

OPC

  • Only 1 member is needed;
  • The entity is considered as a separate legal entity;
  • The liability of members is limited to the extent of share capital;
  • The Registration of entity is under MCA and Companies Act, 2013;
  • The transfer of OPC is allowed to only one person;
  • An OPC is liable to pay income tax at the rate of 30% of Profit Plus CESS and Surcharges applicable.
  • The Income Tax Return is filed with the Registrar of Companies.

 

How E-Taxwala Helps in Private Limited Company Registration?

With E-Taxwala, you can establish your private limited company seamlessly. You can register your Private Limited Company in just 4 simple steps:

Step 1: Purchase the Plan

Purchase our Private Limited Company (PLC) Registration plan. You can even chat with our experts by entering your email, phone number and request a callback. Our experts will contact you and clear all your queries. 

Step 2: Upload the Documents on our Website

Upload the below-mentioned documents on our website to incorporate your company:

  • Passport size photos of directors
  • Address proof of directors
  • Photo ID proof of directors
  • Specimen signature
  • Self-declaration about your directorship in other companies
  • Rent agreement of your registered office
  • No objection certificate from the owner of the property of the property
  • Aadhaar card
  • PAN card

The company registration from E-Taxwala is completely online and thus, you can save time and money as you need not have to visit our office.

Step 3: Document Verification by our Experts and Signature of Documents

Our experts will verify the documents uploaded by you. You will need to attest your signature on the documents. 

Step 4: Our Experts will File Forms on the MCA portal to Incorporation your Company

Our experts will file the below forms on behalf of you on the MCA portal –

  • Digital Signature Certificate (For 2 proposed directors) Application
  • Company Name Reservation 
  • Filing of e-forms with ROC 

After the company forms are filed on the MCA portal, the Registrar of Companies (ROC) and the respective departments will verify the forms submitted by our expert. The verification process takes around 10 days (subject to departmental approval and reverts from the respective departments). 

Our experts will follow up with the respective authorities till you receive the Incorporation Certificate. After the verification process is complete, you will receive the Incorporation Certificate along with PAN and TAN in about 10 days.