Private Limited Company

A Private Limited Company (PLC) is a popular legal entity in India, governed by the Companies Act 2013. To register a Private Limited Company in India, you need a minimum of two Directors and two Shareholders, with at least one Director being an Indian resident and citizen.

Additionally, it is mandatory to have a registered office in India to establish the company. The Directors can also be shareholders of the company. The company registration process is simple and can be completed within a few days.

In India, there are no restrictions on foreign shareholding in a Private Limited Company, and 100% Foreign Direct Ownership (FDI) is allowed in most sectors. This makes it an attractive option for foreign subsidiaries looking to establish their presence in India.

If you are planning to start a business in India, a Private Limited Company is a great choice. With UdhamDigital, you can quickly and easily complete the registration process, allowing you to focus on building and growing your business.

When it comes to starting a Private Limited Company in India, there is no specific minimum capital requirement. However, there are certain capital-related aspects to consider during the company registration process:

• Authorized Capital: This refers to the maximum amount of capital a company can raise by selling its shares. There is no specific minimum requirement for authorized capital.
• Paid-up Capital: This represents the capital amount that the company has received from its shareholders. There is no specific minimum requirement for paid-up capital at the time of company registration.
• Stamp Duty: Stamp duty is a tax imposed on various documents related to company registration. The amount of stamp duty varies across different states in India.
• Professional Fees: Professional fees cover the expenses associated with hiring a Chartered Accountant or Company Secretary to assist with the company registration.

The capital required to start a Private Limited Company in India depends on factors such as the nature of the business, the number of shareholders, and the location of the registered office. UdhamDigital can provide you with a clear understanding of the capital requirements and guide you through a smooth company registration process.

Company Registration Process

The process of registering a Private Limited Company in India involves the following steps:

1. Obtain Digital Signature Certificate (DSC): The Director(s) of the proposed company should obtain a DSC from a certifying authority to facilitate online filing of documents.
2. Director Identification Number (DIN): The Director(s) should obtain a unique identification number called DIN by filing Form DIR-3.
3. Name Approval: Select a suitable name for the company and check its availability on the MCA portal. Apply for name approval using Form RUN.
4. Incorporation Documents: Prepare and file necessary incorporation documents, including MOA, AOA, Form SPICE+ (INC-32), Form INC-9, and other required documents.
5. Payment of Fees: Pay the prescribed incorporation and stamp duty fees for the Memorandum of Association and Articles of Association.
6. Certificate of Incorporation: After verifying the documents and fee payment, the Registrar of Companies will issue a Certificate of Incorporation.
7. PAN and TAN Application: Apply for PAN and TAN for the newly incorporated company.

UdhamDigital offers online assistance for company registration, ensuring a hassle-free and convenient process. Our team of experts is available to guide you at every step, ensuring a smooth and quick registration.

Private Limited Company Compliances

Once a Private Limited Company is registered, it must comply with various statutory and regulatory requirements. Some critical compliance requirements for a Private Limited Company in India include:

1. Annual General Meeting (AGM): Hold an AGM within 6 months of the end of each financial year. The first AGM must be held within 9 months from the end of the financial year in which the company was incorporated.
2. Financial Statements: Prepare and file audited financial statements, including the balance sheet, profit and loss account, and cash flow statement.
3. Income Tax Returns (ITR): File ITR with the Income Tax Department by the due date.
4. Board Meetings: Hold at least 4 meetings a year, with a gap of 120 days between two consecutive sessions.
5. Register of Members: Maintain a record of members and update it regularly.
6. Annual Return: File an Annual Return with the Registrar of Companies within 60 days from the date of the AGM.
7. Statutory Registers: Maintain and update various statutory registers, such as the Register of Directors, Register of Contracts, and Register of Charges.
8. Compliance Certificates: Obtain compliance certificates from a Company Secretary and a Chartered Accountant annually.

Non-compliance with these requirements can result in penalties and fines. UdhamDigital can assist you with these compliance requirements, ensuring that your Private Limited Company operates smoothly and complies with all applicable laws and regulations. If you have any queries or need assistance, please feel free to contact us using the form provided.