Private Limited Company

All you need to know

A Private Limited Company offers limited liability and legal protection to its shareholders. A Private Limited Company in India lies somewhere between a partnership firm and a widely owned public company. It can be registered with a minimum of two people. A person can be both a director and shareholder in a Private Limited Company.
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Pvt Ltd Company Registration Fees

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Startup : Rs. 8,499
  • DSC of Two Directors
  • DIN of Two Directors
  • Name Reservation
  • Draft Company Main Object
  • Company registration
  • Company Stamp Duty (on authorized capital of Rs. 1 Lack)
  • PAN Card
  • TAN
  • E-MOA and E-AOA
  • Commencement of Business
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Entrepreneur: Rs. 9,499
  • DSC of Directors
  • Name Reservation
  • Draft Company Main Object
  • Company registration
  • Company Stamp Duty (on capital of Rs. 1 Lack)
  • PAN Card
  • TAN
  • E-MOA and E-AOA
  • 2 Copy MOA and AOA
  • Commencement of Business
  • Udyam Registration
  • GST Registration
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Corporate: Rs. 17,999
  • DSC of Directors
  • Name Reservation
  • Draft Company Main Object
  • Company registration
  • Company Stamp Duty (on capital of Rs. 1 Lack)
  • PAN Card
  • TAN
  • E-MOA and E-AOA
  • 2 Copy MOA and AOA
  • Commencement of Business
  • Udyam Registration
  • GST Registration
  • Trademark Registration (1 class 1 application 1 brand)
  • Domain Registration (if Available.
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Private Limited Company

  • What is Private Limited Company?

    Private Limited Company, the most popular legal structure for businesses, is an easy to form entity in India. Private limited company has a separate identity and liability is limited. A private limited company has a minimum of two members and a maximum of 200 members. The entire process takes 10 to 15 days, depending on whether you have the documents in order.

    • Why Choose Private Limited Company Registration:

      • It is flexible and has limited liability.

      • A greater capital contribution and greater stability

      • The possibility to grow big and expand

      • It’s helpful to establish trust and brand Equity

FAQ on Private Limited Company

There is required to be physically present during this process?
No, whole process are online and document also filing on electronically so it does required to be present physically. You required to send us scanned copies of all the required documents & forms.
How much time it will take to incorporate a private limited company in India?
If you send us all required documents in timely than it will not take more than 15 days but, this is dependent on the workload of the registrar.
What documents are required to incorporate a Private Limited Company?
As mention above.
Is it Compulsory to have a company’s books audited?
Yes, a private limited company must appoint an auditor, with regardless of turnover. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs or rupees and even lead to the blacklisting of directors.
Who becomes a Director or shareholding in to the Private Limited Company?
Any individual/organization can become a member of a private limited company including NRI/foreigners. Nonetheless, the individual must be 18+ above in terms of age and should hold a valid PAN card
Can salaried person become a Director?
Yes, a salaried person can become the director in private limited, LLP or OPC private limited company. One needs to check the employment agreement if that allows for such provisions.
Can Private Limited Company Conduct multiple Business?
Yes, Company can do multiple business if, it is mention and approved memorandum of association (MOA) by the registrar.
Does my business have some level of turnover to incorporate Private Limited?
This is not true; a Private limited company is one of the modes of doing business, which means it can be started from day one. For that matter even after incorporating a private limited there is no obligation that the company must have sales or turnover.
Can NRI/Foreigner become a Director and/or shareholder of the private limited company?
Yes, NRI/Foreigner Become a director subject to the allot the Director Identification number (DIN). To become a shareholder as per the FDI guidelines.
Applicable tax rate for the Company.
Company has to pay tax at Base rate + Surcharges + CESS. Base rate of the Company are as below.
Domestic Company not Availed any exemption or incentive 22%
Company Incorporate After 1st October 2019 and not availed any exemption or incentive 15%
If, any exemption or incentive are availed 25%
Any other Case 30%

Documents Required for Private Limited Company registration

Minimum Requirements

  • Minimum 2 Directors and Shareholder

    (The directors and shareholders can be same person)

  • One of the Director must be Indian Resident.
  • DIN (Director Identification Number) for all the Directors
  • DSC (Digital Signature Certificate) for all of the Directors
  • The registered office of a company does not have to be a commercial office. Even a rented home can be the registered office, so long as a NoC is obtained from the owner of the property.

Specific Requirements

A Private Limited Company must have a registered office in India. Documents like bank statement or electricity bill should be recent.A utility bill, rent agreement or sale deed and an NOC from the landlord with his / her consent to use the office as a registered office of a company must be submitted as well.

Advantages of a Private Limited Company

Points to make your decision easy
Limited Liability

There is no personal liability of Director and shareholder for any debt of the company. So, the director personal property are safe.

Separate Legal Entity

Company has a spate PAN, Other registration in its own name and its legally recognized as a spate entity. Company can own property its own name.

Easy Transferability

The Ownership decided for the number of shares held by the shareholder and shares can be transfer to the other person or entity.

Easy to get Fund

Private limited companies have equity and its more suitable/ preferable for the venture capital, private equity, bank, angel investor to invests/funding in such company.

Private company has a more option to get fund apart from the above mention like; Right Issue, issuing Debenture, convertible debentures, issuing preference Shares and many more.

The Banks and Financial Institutions prefer to provide the funding to a company rather than the partnership firms or proprietary concerns.

Uninterrupted Existence

A Private Limited Company has ‘perpetual succession’, that means, it has an uninterrupted existence until it is legally dissolved. As a company is a separate legal person, it is unaffected by death or other the departure of any member and it continues to be in existence irrespective of the changes in ownership.

Tax Benefit

A Private Limited Company has a number of tax benefits available. As per recent announce company incorporate after October 2019 in manufacturing or service sector can avail tax benefit at a rate of 15% and 22%.

Company can also avail deduction on employer –employee policy as per the income tax act.

Steps involved in Registration of an Indian Private Limited Company

STEPS & TIME DURATION
01

Preliminary Documentation

Discussion between LeglBoss Team & the Promoters of the Company:

02

DSC (Digital Signature Certificate)

Getting DSC for All of the Director for digital authentication of the Incorporation documents

03

Preparation of Main Object & Name Availability Search

  • Preparation of Main Object by Legalboss
04

Application for Name Availability

  • Filing of Form with the concerned ROC
05

Final Process:

  • After ROC's approval for name of the Company, filing all the Incorporation documents with the ROC
  • Online uploading of e-Forms
06

Application for Certificate of Commencement of Business

A Private Limited Company, in addition to Certificate of Incorporation, must obtain a Certificate of Commencement of Business before its operation