The Private Limited Company is a well-known business concept in India. There are more than 120,000 companies registered on yearly basis.
Due to its advantages such as limited liability, perpectual succession, employee attraction, director dual role, the private limited company is favourite business structure in India.
Company Registration in India is regulated by the Central Registration Center (CRC), Manesar, Haryana on behalf of each state jurisdictional Registrar of Companies, Ministry of Corporate Affairs, Government of India. The governing law for the companies is Companies Act, 2013. Company Registration or Company Incorporation or Company Formation is completely online. The Online Company Registraton will be done through Ministry of Corporate Affairs web portal.
Your proposed company's name should be unique, it should not be similar to an already registered company. You should thoroughly check the status of Name Availability before making an application. The company name should contain Key or Coined word, Object and Type of Entity. The following table shows an example:
Key or Coined Word
You need to check it on MCA portal and you also need to check whether the key or coined word used in company name is already regisrted under Trademarks Act or not. Ministry of Corporate Affairs (MCA) has revised Rule 8 of Companies (Incorporation) Rules, 2014 on May 10, 2019. You are kindly advised to refer revised name availability rules before making any application for Company Name Reservation in RUN or SPICe. Click here for Revised Name Availability Rules.
You can apply company name onlline on MCA portal by loging into your account. For this, you need to create an account on MCA Portal. You can create an account on MCA portal at Register section. Select user category as Registered User. Once you create an account on MCA potal, log in to your account, select MCA Services section. On MCA Services section you can find company name application RUN service. Click RUN Service, select company type as new company (others) for Private Limited Company and OPC Company in case of One Person Company Registration, enter the proposed company name, significance of the key word and objects in comments section and then submit. It will ask you to pay the challn amount of Rs. 1,000/-. Pay the callan amount. Once the payment is confirmed, the MCA Portal will generate the Challn. You need to wait for a day or two and the name will be approved by the MCA officials subject to Rule 8 of the Companies (Incorporation) Rules, 2014. The name approval letter will be sent to you through email.
Company Registration is completely online and you need to sign the documents digitally. Class II digital signature certificate (DSC) is rquired for all the shareholders to register a company. The shareholders have to sign the Digital Signature Application (DSC) Form. Signature is not required if their mobile number is linked with their Aadhaar card. CompaniesHouse will process the application and you will get the Digital Signature Certificate (DSC) with in half an hour. During the DSC issuance process, you need to verify your mobile and do the video recording. Our consultants will guide you how to verify your mobile and how to do video recording.
Get the above MCA documents attested by a professional (ie. a Pracicing Company Secretary or a Chartered Accountant) and upload the documents with MCA portal. Once you upload the documents, MCA will generate challan, you can then pay that challan amount and save the challan for your records. Wait for 3 or 4 working days, then MCA will verify the documents filed and issues the Certificate of Incorporation if all the documents are in order. You can also get ePAN and eTAN along with the Certificate of Incorporation.
Our Company Registration Consultants will help you in getting your Company registered. Once you get your Certificate of Incorporation, we will provide you all the documents required for opening Company's current banking account. You can then open your account and deposit the Share Capital amount and submit the declaration of Commencement of Business in eForm INC-20A with MCA and start your business.
You need to register with other departments depending on the nature of business your Company carries. For example if you are a taxable dealer of supply of goods or services, you need to register under Goods and Services Tax Act, if you are an importer or exporter, you need to get Import Export Code (IEC) with the office of Director General of Foreign Trade (DGFT) etc.
With effect from 26.01.2018, the Ministry of Corporate Affairs, Government of India had implemented ZERO Incorporation fee for the companies with the authorized share capital of an amount up to Rs. 10,00,000/-.
If the authorized share capital is more than Rs. 1,00,000/-, the stamp duty will be varied.
Company Name is subject to MCA Approval, you can apply 4 names with one application. CompaniesHouse guides you how to choose Company Name.
The following additional charges are to be paid by companies whose registered office is situated in: PUNJAB – Rs. 10,000/-, MADHYA PRADESH – Rs. 7,500/-, & KERALA – Rs. 3,000/-).
If the desired name is rejected, an extra amount of Rs. 1,000/- need to be paid.
If there are more than two directors, then for each director an extra amount of Rs. 2,000/- will be incurred.
If the company is registered by NRI directors, then an additional amount of Rs. 10,000/- will be incurred.
In case of Annual Compliance, the govt challans will be born by the client.
Audit fee is at actuals on annual basis.
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