Private Limited Company CFO Horizon
Register Your Private Limited Company (Pvt Ltd) - India’s most popular Business form
Let CFO Horizon Handle it.
While we call you, get some insights into what you are getting into.
At CFO Horizon, we provide comprehensive accounting and compliance services to empower firms like yours to thrive and succeed.
Must Know Facts about Private Limited Company
Private Limited Companies are the most commonly registered corporate entities in India. It is governed by the MCA (Ministry of Corporate Affairs), the Companies Act, 2013, and the Companies Incorporation Rules, 2014.
Section 2 (68) of the Companies Act 2013 defines a private company as:
(a) Company with a minimum paid-up share capital as may be prescribed and which, by its articles,
- Restricts the right to transfer its shares;
- Except for One Person Companies, limits the number of its members to two hundred; and
- Prohibits any invitation to the public to subscribe to any company securities.
A private limited company registration is recommended because shareholders have limited liability and ownership restrictions. Most Indian businesses are private limited companies. As of October 2020, India has over 20 lakh registered companies and 12 lakh active ones. Under the Companies Act 2013, the MCA regulates all Indian companies.
Benefits of Private Limited Company
01
Easy Transferability
Since shares represent company ownership, they can be transferred to any legal entity or person in India or abroad, in part or whole. Director replacement ensures business continuity.
02
Limited Liability
Private limited companies protect shareholders from liability. Unexpected liabilities would affect the company, not shareholders.
03
Funding
Shareholders can invest in the company: Angel investors, venture capital, private equity, and hedge funds fund entrepreneurs.
04
Separate Legal Entity
Legally, a private limited company exists forever. Its unique name has PAN, bank accounts, licenses, approvals, contracts, assets, and liabilities.
05
Perpetual Succession
Even if a member dies, goes bankrupt, or becomes insolvent, a private limited company remains legal. The company lives forever.
06
Borrowing Capacity
Since they have more debt options, Indian private limited companies can borrow more than LLPs. The debenture issue and convertible debentures help private limited companies more than OPCs and LLPs. Banks and financial institutions prefer private limited companies over partnerships.
07
Greater credibility
The Registrar of Companies must receive much information from private limited companies about their structure, operations, and finances—public domain. Thus, vendors, lenders, and employees can find company information like authorized capital, directors, registered office, etc. Businesses with this information are more credible.
08
Better governance
Private limited companies are better at creating value because the Companies Act 2013 requires them to follow strict procedures, disclose norms, and comply with legal requirements. To avoid mistakes, experts should register a private limited company with many advantages over other entities.
Registration Process of a Private Limited Company
Step 1:
Obtaining DSC
Step 2:
Apply for the DIN
Step 3:
Application for the name availability
Step 4:
Submission of MOA and AOA to register a private limited company
Step 5:
Apply for the PAN and TAN of the company
Step 6:
ROC issues a certificate of incorporation with a PAN and TAN
The entire process will take 7 to 10 days (Approx)
Online Registration Process
(1) Select the package that suits you.
(a.) list of services purchased.
(b.) documents to be submitted or next action.
(2) Make a payment, and you will receive your personalized dashboard login and password.
(3) Once documentation is complete, you will be informed about the next steps through email and SMS, and you can also check the current status of your request in your personalized dashboard.
(4) If you have any questions, use the Helpdesk system in your dashboard to ask us, and we'll be happy to call you.
(5) Once you submit the required documents, our Compliance Manager will review them and contact you in case of any discrepancies.
(6) At each step, our team will share all the information you need and ensure that you have a smooth experience with us.
Applicable Taxes and Annual Compliance
MSME Registration
MSME or Udyog Aadhaar registration will be obtained in the business’s name to establish that Pvt Ltd is registered with the Ministry of Micro, Small, and Medium Enterprises.
Import Export code
The import Export Code or IE code is obtained from the DGFT if the Pvt Ltd business exports/imports from India.
TAN Registration
TAN registration must be obtained for Pvt Ltd from the income tax department while making any payments as per the Income Tax Act 1961.
FSSAI Registration
If Pvt Ltd is involved in selling or handling food products, FSSAI registration must be obtained from the Food Safety and Standard Authority of India in the name of the Pvt Ltd firm.
GST Registration
GST registration must be obtained if Pvt Ltd sells goods or services that cross the GST turnover threshold limit for registration. In most states, GST registration is required for service providers with annual revenue of more than Rs 20 lakhs and traders-annual revenue of more than Rs. 40 lakhs.
Current Account
A current account can be opened for Pvt Ltd in any bank in India. We offer exclusive partnerships through which zero-balance current accounts can be opened.
Shop & Establishment License
We will register for a Shop & Establishment license if needed as per the criteria.
Applicable Taxes and Annual Compliance
Income Tax Filing
Companies registered in India must file income tax returns annually in Form ITR-6 by 30th September.
Annual Return
Companies registered in India must file MCA annual returns annually in forms AOC-4 and MGT-7 by 30 and 60 days respectively from the date of the AGM.
Commencement of Business
The capital mentioned in the MOA [Memorandum of Association] must be deposited in a bank, and a commencement certificate must be obtained from MCA within 180 days of Incorporation.
DIN KYC
The DIN KYC procedure must be completed each year by the company’s directors by 30th September.
Statutory Auditor Appointment
Within 30 days of incorporation.
Documents To Be Uploaded
For Directors:
For Registered office:
Too Much Information to Process!!!
How to Get Started with Private Limited Company?
Fill Form
Simply fill out the above form to get started.
Make Payment
No additional compliance in most cases
Our Expert Will Start the Process
Our expert will connect with you & advise on documents.
Why CFO Horizon?
Startup Friendly
10k Business Registration & Counting
Affordable & Transparent
No Hidden Fee
Secure online payment
On-Time Deliver
We value time and hence would never miss a deadline
150+ Experts
A massive team of experts is just a call away!
100% Confidentiality
We maintain a high level of confidentiality of client information & information security management.
Live Status
You can track your Status of services live, which brings clarity and reliability to our system.
Our 20 Years of Experience Says
Companies that focus more on their business and outsource the Financial liabilities to us are more successful than those who went DIY.
Let CFO Horizon do what we’re good at, and You do what you are good at!