Private Limited Company is an ideal begin for any individual who needs to begin their business to give it a different legitimate identity. Private constrained company can be framed easily and its procedural consistence are additionally simple when contrasted with that of an open organization.
A private Limited Company, or LTD, is a sort of secretly held independent venture substance. This kind of business element limits proprietor risk to their offers, confines the quantity of investors to 50, and limits investors from openly exchanging shares. We will give salary government form arrangement, revised return, responding to Department notification and illuminating other Income Tax related issues.
What are the Documents required for Formation of Pvt. Ltd. Company?
- PAN card and Residence Proof of directors of the company
- passport-size photograph
- Copy of Rental Agreement / EB Card Copy of Registerd Office
- Specimen signature (blank document with signature [directors only])
- Copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- copy of Passport (In case of Foreign Director)
What is the procedure for Private Limited Company Registration?
- DSC and DIN for all directors are required.
- 4-6 proposed names ought to be given that ought to be interesting and suggestive of organization business.
- Memorandum and Articles of Associations ought to be drafted. Oath and statement by first endorsers and Directors ought to be readied
- Once the application is properly documented and acknowledged by ROC, declaration of consolidation is issued and the organization is good to go to begin it’s operations.
- At that point you have to apply for PAN and TAN. Dish and TAN are gotten in 7 working days. Post this, you can present the Incorporation declaration, MOA, AOA and PAN with a bank to open your financial balance.
A private limited company can be started off with just two members who will be the shareholders and directors.
Minimum capital required to incorporate a private limited company is one lakh.
Companies enjoy better avenues for borrowing of funds when compared to other forms of business such as sole proprietorship and partnership.
Personal assets of the shareholders will not be at risk, in the event of the company facing financial distress.
A company enjoys perpetual existence unlike other forms of business i.e.,the company continues to exist irrespective of the status of the owner.
A company enjoys separate legal identity unlike partnership firms.