According to India’s government, A Private Limited Company (Pvt Ltd) registered under the Companies Act 2013 with limited liability. Private company registration is online and offline, both are available with DMG Tax Accounting & Investment. With an experienced team of legal authorities, DMG Tax Accounting & Investment makes sure the legal registration is quick with an affordable rate to start-ups and entrepreneurs. We DMG Tax Accounting & Investment company are the best private company legal registration service, provider. We ensure that your company’s legal existence or legal formalities are accurate based on government laws, regulations, and Acts. While the Private Limited Company’s legal registration, we take complete precaution on end-to-end security concerns of your provided documents.
By the Companies Act, 2013, Company Registration is regulated and administered by the Ministry of Corporate Affairs (MCA), Registrar of Companies, and is processed at the Central Registration Centre (CRC).
We provide you a surety to protect your data and take care of all the formalities and fulfill all the submitted documents, as defined by the Ministry of Corporate Affairs.
All you need to know
A Private Limited Company is a company that is been hold by a small group of people. If we see that Private Limited Company is a very powerful business structure as a community compared to other forms of business. It contains at least 2 stakeholders and 2 directors.
How to start/form a Private Limited Company?
Steps to be taken to get a new company incorporated:
- Main name
- Activity to be carried out
- Mention of ‘Private Limited Company’ at the end.
For more queries, you can contact us on g-mail or Phone Number.
Private Limited Company Registration process is completely an online process. So, our company DMG Tax Accounting & Investment is here to provide you complete support in getting your private company incorporated.
Private Limited Company Advantages
Below are the advantages of the private limited company.
- Limited Liability: –
As, if we in Private Limited Company’s Investment is limited or we can say there is a limited liability due to this we can say that the members of the private limited company won’t lose their money or face loss in the assets. If the private limited company faces a loss of any huge amount, they won’t have to pay a single penny for that loss.
- Less number of shareholders:
A private limited company shareholders requirement is not more, just 2 shareholders are required.
In a Private Limited Company, the owners only have the power of transferring the shares and selling them to high prices. Shares are been held by investors, founders, or management.
- Uninterrupted existence:
The private limited company’s existence will be still even after the death or departure of any member. And it will be shut down legally only after the company stays legally shut.
DMG Tax Accounting & Investment is a distinguished business platform and a progressive concept. It helps in end-to-end combination, Submission, Consultative, and managing your Account and provides many more services to clients in India. We can provide a good service and consultancies to build and give a good Private Limited Company.
Submission required by a Private Limited Company
All you should know about necessary compliances
- GST Registration: –
Every Private Limited Company is required to get their GST Registration within Thirty days to build a private limited company or Business Incorporation in India. And Our Website DMG Tax Accounting & Investment also provides GST Registration, as it is needed when the turnover of a private limited company is more than INR 40 lakhs or INR 20 lakhs in some of the states or if the business supply of goods is on a huge scale or Provides goods and services online.
- GST Returns: –
Once a private limited company gets registered under GST Registrations, then it becomes necessary to file GST returns for a private limited company. Our Website Also gives you the facility of GST Returns. As the filing of GST returns is mandatory for all registered Taxpayers including Private Limited Companies/Business Incorporations. GST returns can be filed monthly, quarterly, or yearly depending upon the types of GST returns form you are filing.
- Accounting: –
Every Private Limited Company Should maintain a proper record book of accounting which shall represent a proper and accurate and fair view of the condition of the company. As we know that accounting is necessary for the certified accountant, Annual Return, and IT return which is compulsory. These books of accountings should be maintained/audited by the auditor only which is been appointed by the Private Limited company.
- Statutory Audit: –
Every Private Limited Company should register itself under the companies Act ignoring its sales turnover or nature/behavior or capital must have its book of accounts maintained each and every financial year. Thus, the Board of Directors of a Private Limited Company are required by law to appoint an accountant/bookkeeper within 30 days of incorporation and thereafter conduct an audit of its financial statements each and every financial year.
- MAT Audit: –
Now it is compulsory for a private limited company to get their accounts to get certified under MAT. MAT full form i.e., Minimum Alternate Tax. The main objective behind the introduction of MAT was to bring into the tax net “Zero tax companies” which were actually had earned substantial book profits and also by having paid handsome dividends, do not pay any tax due to different tax modifications and encouragement provided under the Income-tax Law.
- Income Tax Audit: –
Every Private Limited Company is compulsorily required to get the tax audits under section 44AB done. The Tax audit under section 44AB aims to find out the submission of various provisions of the Income-tax Law and the implementation of other requirements of the Income-Tax Law. The tax audit restriction under section 44AB is INR 1 Crores. (5 crores where at least 95 percent turnover is transacted/transferred on digital transactions.)
- ROC Annual filing: –
It is compulsory for a private limited company to file 3 forms every year. Now filing is done for the submission of required documents of financial statement, i.e. Balance sheet, P&L account in form AOC 4, and annual return in form MGT-7. Company reports about accountant’s appointment to ROC in Form ADT 1.
- IEC Registration: –
In this registration of IEC, it is required for all the private limited companies to get registered themselves to the Import Export Code. IE code (IEC) has lifetime validity. Importers are not allowed to import goods without this code and exporters can’t take the advantage of the exports from DGFT, Customs, Export Promotion Council, if they get registered or don’t have this code.
- TM Registration: –
TM registration i.e. Trademark Registration. So, this was found because only registering a private limited company with just a name does not provide complete protection or assurance to the name or brand name. Most Protective registration for a business or private limited company is only secured by Trademark Registration of same. By trademark registration, you may get the official ownership of your private limited company name or brand name or logo, etc.
Documents Required for Private Limited Company registration
- Quick Requirements: –
- Photograph of all the Directors.
- PAN Card of all the Directors.
- ID Proof of the Directors.
- Electricity Bill or any other utility bill for the address proof of that particular Registered Office.
- Special Requirements: –
Now a private limited company should have been a compulsory registered office in India. And the required documents like bank statements or electricity bill should be of the recent date. A utility bill, rent arrangement, or sale deed and a NOC from the owner of that place (landlord) with his/her permission to use the office as a registered office of a private limited company must be submitted in the form of a document as well.
Advantages of a Private Limited Company
Points to make your decision easy
- No Minimum Capital: –
In a private limited company, there is no limit to keeping minimum capital. A private limited company can also be registered with a small amount of 10,000 as a total Authorized Share Capital.
- Separate Legal Entity: –
Now as a private limited company is totally a separate legal identity in the court of the law, meaning assets and liabilities of the business are not the same for the directors as well. And so, both of them are counted as different.
- Limited Liability: –
Whenever the company undergoes financial distress or may face a financial crisis for many reasons, the personal assets of members would not be able to pay debts of that particular company as a liability of the person is not unlimited it is limited.
- Fund Raising: –
As we know that a private limited company in India is the only form of business after public limited companies that can raise funds or ask for funds from Venture Capitalists or Angel Investors.
- FDI Allowed: –
In India, a foreign person or foreign entity can directly invest in a private limited company as Foreign Direct Investment is allowed 100%.
- Builds Credibility: –
The particulars of that company are also available on a public database. This also helps to change/improve the trust of the company as it makes it easy to verify details.
How to Incorporate Private Limited Company
Private Limited Company Registration Process in 5 steps
- Obtain DSC
- Reserve Your Company Name
- Submission of MOA & AOA
- Get Company’s Incorporation Certificate
- Get Company’s PAN & TAN
FAQs On Private Limited Company
Get answers to all your queries
- What are the eligibility criteria for shareholder or director to be appointed for Private company registration?
Ans. The person should be of –
- Sound Mind
- Major of age
- Citizen or resident of India
- Can private limited company invite the general public for shares?
Ans. No. this is a private limited company so that it won’t be able to allow any public shares.
- How many directors are required for company registration?
Ans. There is a limit on choosing the number of directors in a private limited company, so min 2 directors and max 15 directors are needed.
- What is the minimum turnover and capital required for Pvt. Ltd. Co. in India?
Ans. It is a bit different in a private limited company, there is no limit on turnover, it’s not like OPC (One Person Company).
- Have Some queries?
Ans. Our expert will help you in choosing the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at @gmail.com or call us at @1234 567 890.