Company Registration
₹6,505.00 – ₹20,412.00
Company registration including Government Fee & Stamp Duty*. Incorporation kit with share certificates.
About this item
- Company Registration
- Share Certificates
- Current Account Opening
- GST Registration
- 2 Digital Signatures
- Terms and conditions
- Offers and discounts
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Description
Company Registration in India
Company Registration is not as Complex, as you might Imagine!
Synergetic Services allows for online company registration in India. The most popular form of legal entity, favored by millions of Indian entrepreneurs and well-known firms like Flipkart, PhonePe, and Swiggy, is the private limited company. Online private limited company registration costs about Rs. 6,505 and takes less than ten days.
Company Registration & Different Types of Business Structures in India
Before doing your company registration in India, you need to know the different types:
Private Limited Company
Hindu Undivided Family (HUF) Business
Limited Liability Partnership (LLP)
Sole Proprietorship
Among these all, a Private Limited Company is the most popular and widely-established business structure in India (Like, Reliance, TCS, Wipro etc.) So, today we are going to discuss the registration of a Private Limited Company in India (In 2023).
What is a Private Limited Company?
Private Limited Companies are made up of a minimum of 2 Directors and 2 Shareholders (Where at least one of the Directors should be an Indian Resident and Citizen).
Note: – Private Limited Company is monitored by the Companies Act,2013. So, what are the documents required for your company’s registration?
Documents Needed for Private Limited Company Registration in India
I will mention the following documents that are required by the Directors and subscribers of the Company
Indian Nationals: PAN card mandatory
Foreign Nationals: Passport is mandatory
The Directors must also provide one of the documents listed below, which includes the Director’s address, in addition to the paperwork mentioned above.
Indian Nationals: Passport, driver’s license, election ID, ration card, and Aadhar ID are required for.
Foreign Nationals: Driver’s license, bank statement, and residence card.
The potential Directors must also present one of the following documents as confirmation of residency. A minimum of two months must have passed since this document was created.
Indian Residents: Bank Statement, Electricity Bill, and Phone Bill
International Residents: Bank Statement, Electricity Bill, and Phone Bill
The following papers must be presented if one of the shareholders of the company is a foreign or Indian company:
- Incorporation of the company is authorized by a board resolution.
- Document proving the company’s address.
- Incorporation Certificate of the Company
Director Consent Form (Form DIR-2)
A company needs to have its own registered office address where they will be operating their business after incorporation, for the same the company needs to submit the following documents with the incorporation form:
- Electricity Bill (not older than 2 months)
- NOC from the property Owner
- Rent agreement if the property if rented along with rent receipts
- Index II
If any of your company has the ‘subscriber Company’ holding more than 50 percent of shares has already their establishment in Abroad, the following are the documents that are required from their side;
- Board resolution authorizing investment in your company.
- Incorporation Certificate of their Company.
- Address proof of their company.
(All the documents need to be apostilled and notarised in their origin country)
What is Capital required for starting a company?
Total Money – Required to Start your own Company
There is no set limit (Minimum Requirement as per Act) to register a company in 2023. But, you need to consider a few facts before starting.
What is the ”Face Value of a Share” in your Company?
‘Face Value’ is the original price of each share, which helped to bring your company into existence in the market. It can be Rs. 1, Rs. 10, Rs. 100, Rs. 1000 etc.
What is the “Authorized Capital” allocated to your company?
Authorized Capital represents the ‘Total value of the company’s shares’. Generally, it is in between a range of Rs. 1,00,000 – Rs.10,00,000. For the money, the participant pays into the company;
What is the “Paid-up Capital/Subscribed Capital” of the company?
The subscriber when subscribes the shares of the company based on the capital invested is called ‘Paid-Up Capital’/subscribed capital.
Important: – If you want to increase this limit of ‘Total Shares Value’. You need to pay an additional fee to the ‘Ministry of Corporate Affairs (MCA)’. This limit can be increased, any time after the registration/incorporation of your company.
Now, it’s time to understand the “Registration Process”
Company’s Registration Process as a ‘Private Limited Company’?
To register a company in India, you must first complete the following steps:
Step 1: Company’s Name Approval
Every type of company must need the ‘Name’. Right? So, you need to file an application with 1-2 Names submitted in your application to the MCA. Generally, the name is approved within 5 working days. (In case, if the names are disapproved – You can resubmit 1-2 names).
Step 2: Digital Signature of your Directors
To complete the digital signature process, directors of your company need to submit the ‘Identity Proof’ ‘Address proof’ and finish the ‘Mobile’ ‘Email’ and ‘Video verification Process’.
(Digital Signatures from the Directors are compulsory).
Step 3: Application Submission of your Company’s Incorporation
You need to submit the ‘SPICe+ form to MCA’ and with all the relevant details of Company’s directors, subscribers, and Registered office of the Company and along with this form; the Memorandum of Association (MOA) and Articles of Association (AOA) of your company are also filed. If everything is perfect, it is approved within 5 working days.
It’s not over, you need to follow a few guidelines while preparing the documents carefully
Compliances to follow for Private Limited Company!
After your company’s registration, you need to follow various compliances to be ‘Penalty-free and Prosecution-free’. Here are a few of them, to keep in mind;
1. Appointment of Auditor
Every company in India must have a licensed and practicing CA (Chartered Accountant) with a registered ICAI appointed as an auditor of your company within 30 days from the date of company’s incorporation. For the same you need to file form ADT-1 on the MCA portal.
2. DIN KYC
At the time of the company’s incorporation, all the directors are provided with 8 digit Director Identification Number (DIN). These people need to complete the KYC – Each year to validate their Phone & E-mail on the records of MCA.
3. Commencement of your Business
You have a maximum time limit of 180 days for creating your company’s – “BANK CURRENT ACCOUNT”. All the shareholders of the company must submit their subscribed capital as per the MOA of the company to company’s bank account.
Example: – If you had a deal of buying shares worth Rs. 1,00,000. Then, you need to submit Rs. 1,00,000 in the company’s ‘Bank Current Account’ and file your bank statement with MCA; to get the Commencement of Business Certificate. For the same you need to file form INC-20A form on the MCA portal.
4. Annual Filings of MCA
All the registered companies in India must file a copy of their financial statements with the MCA for each financial year. MCA’s annual return has two forms – “Form MGT-7/MGT-7A and Form AOC-4”. Both of these forms must be digitally signed by the Directors & a Practicing Professional.
5. Filing of your company’s Income Tax
All the registered companies in India, must file an income tax return using the ‘Form ITR-6’ every financial year (1st April – 31st March) before the last date with the digital signature of one of your company’s directors.
Registered Office for your Company?
Every company must have a place, from where they can operate, receive all the important correspondence from MCA at one place. It can’t be an ‘Under-Construction or Vacant Land’. After the incorporation of your company, you have the choice of moving your office’s space to another city or state etc. And, don’t forget;
What about – GST Registration after your Company’s Registration?
All companies have an option of registering their GST along with their incorporation (But, it is not compulsory; unless the company start making any sales and it crosses the limit of GST. Below, you are provided with all the guidelines & requirements for GST Registration;
Documents Required to Open a Bank Current Account for your Company”
- Incorporation Certification of your Company.
- KYC Documents of the Directors.
- Authorization by Board Resolution to the Directors to open Bank’s Current Account.
- Address Proof of your Company.
- Specimen Signature of directors/director
Top-3 Advantages of Starting a ‘Private Limited Company’
1. Limited Liability
It has a unique legal entity and limited liability provisions. Therefore, the shareholders aren’t responsible for the losses of the amount – Above their investment into the company.
2. Non-Interrupted Existence
It has a no-direct connection with any of the participants in the company because it is an “Independent Entity”, therefore, it will continue in all circumstances – until it gets ‘Bankrupt’ (Even if, any of the Director’s Membership change occurs).
3. Raising the Funds
A Private Limited Company has many options for raising funds, some of them are; Shareholders, Investors, Angels, Venture Capital Funds, Private Equity Funds, Foreign Funds, NBFCs, Banks and other Financial Institutions. “Last, but not least”;
Disadvantages of Private Limited Company
Even if forming a company has many benefits, not all business owners should do it for the following reasons:
Compliances
Regardless of the volume of business or the nature of the activity, a corporation is required to maintain a number of compliances. As a result, running a business every year includes a minimal recurring expense.
Frequently Asked Questions (FAQs)
How much does it cost to do a Private Limited Company Registration Online in India?
Ans: It depends on the total number of shareholders at the time of incorporation, capital size & following factors;
- The number of total Directors.
- The number of total participants.
- The authorized share capital of the company.
- Professional fees are charged.
How does a Private Limited Company is been taxed?
Ans: They are taxed at a 30% rate along with the surcharge and taxes as applicable.
How to do a Private Limited Company Registration in India?
For the registration of a private limited company; you need to follow these 5 steps;
- Step 1: Apply for the Director Identification Number (DIN).
- Step 2: Apply for the Digital Signature Certificate (DSC).
- Step 3: Company’s Name Approval.
- Step 4: Application Submission for Company Incorporation.
- Step 5: Get the Certificate of your Company’s Incorporation.
To be hassle-free and register your company asap, without any work done from your side. You can opt for a ‘Charge-Free Consultation Call’ and also check our website for the registration process at the most affordable prices in the market.
Contact us our expert will help you to Register your Company!!!
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