Private Limited - Techmin Consulting

For Indian Entrepreneur

Private Limited Company

Private Limited Company Registration

The simplest and most widely used method of registering a company in India.

All the information you need to register a private limited company

A Private Limited Company provides its shareholders with limited responsibility and legal protection. In India, a private limited company (PLC) sits in the middle of a partnership firm and a publicly held company. It can be registered with a least two individuals. A person may hold both the positions of shareholder and director in a private limited company.

Members of a Private Limited Company (PLC) are only liable for the number of shares they really own. When a Private Limited Company in India receives its Certificate of Incorporation, operations can start. Incorporating a PLC takes 15 working days.

How can I establish a private limited company?

Procedures to follow in order to incorporate a new business:

Choosing an appropriate name
Submission to the relevant ROC
MOA & AOA
Submitting the forms and documents

In India, forming a Pvt Ltd Company is entirely done online. Recently, the MCA replaced the older SPICe form with the SPICe+ web form (SPICe Plus). Consequently, it is now considerably simpler to incorporate a private limited company.

Techmin Consulting is a leading business model and innovative idea. It aids in providing clients in India with end-to-end incorporation, compliance, advising, and management consultancy services. At Techmin Consulting, the process of forming a private limited company and registering it is simple, affordable, and rapid. Additionally, Techmin Consulting offers secretarial compliance services, HUF, LLP incorporation, one-person company registration, and partnership registration. For a free consultation, contact our compliance manager at 08943620159 or by email at mail to:info@techmincsc.in.

A Private Limited Company’s need to comply

Everything you need to know about required compliances

Registering for GST

After a private limited company is incorporated in India, it must obtain its GST registration within 30 days. When a business supplies items inside a state or offers goods and services online, or when its annual revenue exceeds INR 40 lakhs or INR 20 lakhs in states that fall under a special category, GST registration is required.

Return of GST

As soon as a Private Limited Company registers for GST, it is required to file GST returns on behalf of the Private Limited Company. Since submitting GST returns is required of all registered taxpayers, including businesses. Depending on the sort of GST returns you are completing, you might file them monthly, quarterly, or annually.

Accounting

Every Pvt Ltd Co. is required to keep proper books of accounts that accurately and fairly reflect the company's financial situation. Accounting is required for the required statutory audit, annual filing, and IT return filing. The auditor that the company has selected must audit these books of accounts.

Regulatory Audit

Every Private Limited Company registered under the Companies Act must have its book of accounts audited every financial year, regardless of its sales turnover, business model, or capital. As a result, the legislation mandates that the Board of Directors of a Private Limited Company select an Auditor within 30 days of incorporation and undertake an audit of its financial statements each fiscal year after that.

Audit of MAT

Under MAT, or Minimum Alternate Tax, the Pvt Ltd Co. is required to have their accounts audited. The goal of the establishment of MAT was to bring "zero tax companies" that, although having achieved significant book profits and paying out generous dividends, do not pay any tax as a result of numerous tax breaks and incentives granted by the Income-tax Law, into the tax net.

Audit of Income Tax

Under Section 44AB, all Private Limited Companies are required to undergo tax audits. The purpose of the tax audit described in Section 44AB is to determine if certain Income Tax Law regulations are being followed, as well as other Income Tax Law requirements. Section 44AB limits tax audits to a maximum of INR 1 crore. (5 crores, at least 95% of which comes from digital transactions.)

Annual ROC filing

Every year, a Private Limited Company is obligated to submit three forms. Regarding the submission of financial statement documents, including the balance sheet, P&L account in form AOC 4, and annual return in form MGT-7, filing is required. Company report to ROC in Form ADT 1 regarding appointment of auditor.

IEC Certification

The Import Export Code must be registered by every Private Limited Company involved in the import and export of products. IE code is valid for all time. Without this code, importers are not permitted to proceed, and exporters are not eligible to receive export benefits from the DGFT, customs, or the Export Promotion Council.

TM Registration

The name or brand name is not completely protected by registering a Private Limited Company with a name. The only way to ensure complete protection for a business name is to register it as a trademark. You can obtain ownership of your Pvt Ltd Co. name, brand name, logo, etc. by registering a trademark.

Benefits of a Private Limited Company

Factors that will help you make a quick decision

No Minimum Equity

A Private Limited Company can be established without a minimum amount of money. Only Rs. 10,000 can be used to form a Private Limited Company as total authorised share capital.

Distinct legal entity

The assets and liabilities of a Pvt Ltd Co. are distinct from those of the directors since the company has its own legal identity in the eyes of the law. They both count differently.

Limited Liability

Members' personal assets won't be used to settle the company's debts if it experiences financial difficulty for whatever reason because their liability is limited.

Raising Money

Except for Public Limited Companies, a Private Limited Company is the only type of firm that can raise money from venture capitalists or angel investors in India.

FDI Accepted

100% Foreign Direct Investment is permitted in Private Limited Companies, meaning that any foreign business or foreign individual may directly invest in a Private Limited Company.

Increases credibility

A public database contains the company's information. It raises the company's trust because it makes it simple to authenticate the information

Complete a short checklist

A compliance manager will contact you to collect your paperwork and provide a brief checklist. You must complete that checklist and submit it with your supporting documentation for validation. The process will continue after the documents you submitted have been verified by our team of specialists. Throughout the procedure, the compliance manager assigned to you will keep you informed of the status of the Company Registration.

Name Acceptance

After receiving your paperwork and the completed checklist, we'll start the process of applying your digital signature before approving the name of your private limited company. Up to two names of your choosing may be suggested. Names ought to be distinctive and evocative of the company's line of work. We shall continue with Part A of the SPICe Plus form to submit your name request for your Private Limited Company.

Registration

The MOA (Memorandum of Association) and AOA will be written by us (Articles of association). Along with the subscription statement, we will submit the incorporation papers to MCA in part B of a form called "SPICe Plus (SPICe +)". When forms are submitted, MCA typically approves them in 4-5 days and issues an incorporation certificate with a CIN. PAN & TAN are assigned side by side. After that, you can open a company bank account.

Do Your Best From The Get-Go

Private Limited
Company Registration