Private Limited Company Registration in India

A private limited company is a type of business structure in India that is both registered and incorporated with the Registrar of Companies. It is a legal entity that exists separately from its owners and has limited liability, meaning that the owners are not personally responsible for the company’s debts and liabilities.

The Procedure for Registering a Private Limited Company

The procedure for registering a private limited company in India is fairly straightforward and involves the following steps:

1. Choose a Name: The first step in registering a private limited company is to choose a suitable name. The name should be unique and should not be similar to any existing company.

2. Obtain Digital Signature Certificates (DSC) and Director Identification Number (DIN): The DSC and DIN are both required for the registration process. DSC is required for filing and submitting documents online, while DIN is required for every director of the company.

3. Apply for Name Approval: The chosen name must then be approved by the Registrar of Companies (RoC).

4. Prepare Incorporation Documents: These include the Memorandum of Association (MoA) and the Articles of Association (AoA).

5. File the Incorporation Documents: The MoA and AoA must then be filed with the RoC.

6. Obtain Certificate of Incorporation: Once the documents have been filed, the RoC will issue a Certificate of Incorporation.

7. Obtain Permanent Account Number (PAN) and Tax Deduction Account Number (TAN): The PAN is required for filing tax returns, while the TAN is required for deducting taxes at source.

8. Obtain Professional Tax Registration: Professional tax registration is required for all companies in India.

9. Obtain National Industrial Classification (NIC) Codes: Every business activity is assigned an NIC code which is used for filing tax returns.

Benefits of Registering a Private Limited Company

There are numerous advantages of registering a private limited company:

1. Limited Liability: As mentioned, the owners of a private limited company are not personally liable for the company’s debts and liabilities. This provides a great level of protection for the owners.

2. Easier Access to Financing: Banks and other financial institutions are more likely to provide financing to a private limited company, as they are registered entities.

3. Professionalism: A private limited company is seen as a more professional and reputable business entity.

4. Separate Legal Entity: A private limited company is a separate legal entity from its owners, which means that it can own assets, sue and be sued, and enter into contracts in its own name.

Documents Required to Register a Private Limited Company

The following documents are required to register a private limited company in India:

1. Memorandum of Association (MoA): This document outlines the company’s objectives and states the powers of the directors.

2. Articles of Association (AoA): This document outlines the regulations of the company and states the rights, duties and powers of the directors.

3. Application for Name Approval: This is the form submitted to the RoC for name approval.

4. Digital Signature Certificates (DSC) and Director Identification Number (DIN): DSC and DIN are both required for the registration process.

5. Identity Proofs of the Directors: Valid identity proofs such as PAN card, Aadhaar card, voter ID, driver’s license, etc. must be submitted.

6. Address Proofs of the Directors: Valid address proofs such as electricity bill, rent agreement, passport, etc. must be submitted.

7. Address Proof of the Registered Office: Valid address proof such as electricity bill, rent agreement, passport, etc. must be submitted.

National Industrial Classification (NIC) Codes

Every business activity is assigned an NIC code which is used for filing tax returns. The codes are categorized into major, minor and sub-divisions. The major division is the broadest category and consists of just four digits. The minor division is more specific and consists of six digits. The sub-division is the most specific and consists of eight digits. The NIC codes are updated from time to time and can be easily accessed on the Ministry of Corporate Affairs’ website.

In conclusion, registering a private limited company has numerous benefits and the procedure is fairly straightforward. The documents required for the registration process are easily available and the NIC codes are updated regularly. Therefore, if you are looking to start a business in India, registering a private limited company is the way to go.

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Spice+ Company Registration and FiLLip LLP Registration are two of the most important processes of starting a business. To ensure that your business complies with the applicable laws, it is essential to register your company with the relevant authorities. The MCA Industrial Activity Code and Business Code are two important documents that need to be obtained before registering your business.

MCA Industrial Activity Code

The MCA Industrial Activity Code is a unique code assigned to each industrial activity. It helps the government to identify the activities of a company and to monitor the performance of the business. The code is also used for tax and regulatory compliance. Every company must obtain its own MCA Industrial Activity Code before registering for the Spice+ Company Registration.

Business Code

The Business Code is a unique identification number assigned to each business. It is used to identify the activities of a particular business entity and also helps the government to monitor and regulate the activities of a company. The Business Code is also required for registering with the Spice+ Company Registration.

Spice+ Company Registration

Once you have obtained the MCA Industrial Activity Code and Business Code, you can register your business with the Spice+ Company Registration. This process involves submitting all the necessary paperwork and documents to the relevant authorities. This includes the Memorandum of Association, Articles of Association, and the Certificate of Incorporation. After submitting the documents, the government will review your application and decide whether to approve or reject it. Once approved, you will receive your Spice+ Company Registration Certificate.

FiLLip LLP Registration

FiLLip LLP Registration is the process of registering your business as an LLP (limited liability partnership). This process involves submitting all the necessary paperwork and documents to the relevant authorities. This includes the Partnership Deed, Accounts and Audit Report, and the Certificate of Registration. After submitting the documents, the government will review and decide whether to approve or reject your LLP Registration. Once approved, you will receive your FiLLip LLP Registration Certificate.

Conclusion

The MCA Industrial Activity Code and Business Code are two important documents that need to be obtained before registering your business. The process of registering a business with Spice+ Company Registration and FiLLip LLP Registration requires you to submit all the necessary documents and paperwork to the relevant authorities. Once approved, you will receive your Spice+ Company Registration Certificate and FiLLip LLP Registration Certificate.

Also refer to:

• Benefits of obtaining Trademark

• Trademark - Brand Registration

• GST Registration - Documentation

• GST Registration - Online

• GST Return Filings - Monthly Filings

• Private Limited Company - Registration

• Public Limited Company - Registration

• Income Tax Filing - Accounting & Book-keeping

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