Private Limited Company

A private limited company is a corporation that is privately held for small businesses. The legal obligation of the members of a Private Limited Company in India is limited towards the number of shares respectively which are held by each of the partners. The shares of Private Limited Company shall not be publically traded. Private Limited Company in India can be of three categories: Company limited by shares; Company limited by guarantee and Unlimited Company.  

A Private Limited Company needs a few more ROC compliance translating into an additional cost of 5000 to 10000 per annum. The minimum capital required is Rs.100, 000 and a private limited company could have a maximum of 200 members.  

Documents Required For Private Limited Company Registration:  
•    Copy of PAN Card of directors  
•    Electricity/ Water bill (Business Place)  
•    Passport size photo of directors  
•    Copy of Aadhaar Card/ Voter Id card of directors  
•    Copy of Rent agreement (for rented property)  
•    Copy of Property papers (for owned property)  
•    Landlord NOC  

Steps for Private Limited Company Registration  

1. Application of DSC and DIN :  
Each and every of the partners must apply for Digital signature and DIN. Digital signature is an online signature which is utilized for filing and DIN refer towards Directors PIN number issued through MCA for a Private Limited  

2. Name approval :  
The partners in a Private Limited Company are required to furnish 3 different options for the corporation name towards The Ministry of Corporate Affairs (MCA) of which one shall be selected. The names provided should also ideally be unique as well as suggestive of corporation business.  

3. MOA and AOA submission :  
When the name of the Private Limited Company is been approved, an applicant is required to draft Memorandum of association as well as Articles of Associate which is required for the Private Limited Company Registration.  

4. Get incorporation certificate :  
It generally takes 15- 25 days to form a Private limited company in order to obtain the incorporation certificate. Incorporation certification is a confirmation that the corporation has been formed. It also comprises the CIN number.  

5. Apply for PAN, TAN and Bank account :  
An applicant is then required to apply for PAN and TAN. PAN and TAN are generally received in 7 working days. After this, the applicant could submit the Incorporation certificate, MOA, AOA as well as PAN with a bank in order to open the bank account.