Overview
A private company is a company which is owned by non-governmental organisations or a relatively small number of shareholders or members of a company. Usually, a private company does not offer or trade its shares to the general public on the stock exchanges, but rather the private stock of the company is owned and traded.
A private limited company in India is governed under the Ministry of corporate affairs (MCA). Registering a private limited company in India is easy, and it can be done completely online with Tax Salah. To start a private limited company in India a minimum of two people are required to act as directors and shareholders.
Benefits of Private Limited Company
No minimum capital is required to form a Private Limited Company.
A Private Limited Company is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not the same as the assets and liabilities of the Directors. Both are counted as different. A Private Limited Company separates Management and Ownership and thus, managers are responsible for the company’s success and are also answerable for the company’s loss.
If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the liability of the person is limited.
- 2 DSCs, 2 DINs
- Name Approval (RUN)
- MOA, AOA, Incorporation Certificate
- PAN & TAN of Company
- MSME/Udyam Free
Documents Required For Private Company Incorporation
Listed below are the documents accepted by the MCA for the online company registration process.
Identity and Address Proof
- PAN, Aadhaar, Passport size photo of directors
- Address proof
- Utility Bill + NOC of registered office
Registered Office Proof
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned copy of notarized rental agreement
- Scanned copy of no-objection certificate from the property owner (For rented property)
- Scanned copy of sale deed/property deed (For owned property)
*Note : Your registered office need not be a commercial space, it can be your residence too.
How to Register a company online
Company registration in India benefits startups since it offers them an advantage over those who have not registered. The process of registering your company is complex and involves many compliances. However, with Tax Salah it is easy to incorporate a company as our professionals can help you with every step of private limited company registration process.
- Step 1: Obtain 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
