Registration of Private Limited Company
Documents required for Incorporating a Private Limited Company
- Copy of Income Tax PAN (Permanent Account Number) of all directors / Promoters.
- Copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of all Directors / ShareHolders.
- Latest passport size Photographs of all directors / Promoters.
- Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.
- Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all directors / promoters with Present address (could be different from permanent address).
Process involved in
Incorporation of Private Limited Company
- Check if the proposed promoters / directors have Director Identification No (DIN) or not
- Apply for digital signatures of directors who donot have DIN.
- Apply for Director Identification Number
- Application for Name Approval is Filed in form INC-1
- After the name is approved, the MOA and AOA are drafted and sent for MCA Approval.
- If the E Forms are found to be in order and gets approved by ROC
- PAN and TAN Number are applied after getting the Incorporation Certificate
- Form INC-21 is filed for getting Certificate of Commencement of Business after depositing Rs. 1,00,000 share capital in bank account.
Process Involved in getting Commencement of Business ( with effect from 1st April 2014)
1. All Private Limited Companies should get certificate of Commencement of business before starting any Business in the Company.
2. Form INC-21 is filed with Registrar of Companies along with Bank Statement (showing higher of Rs. 1,00,000/- or Companies Paid up Capital) along with Relevant Stamp Duty.
3. Once form is approved, Certificate of Commencement of Business is Granted with approval to start business.
COMPLIANCES AFTER THE INCORPORATION OF PRIVATE LIMITED COMPANY
Apply for PAN and TAN
Apply for Sales Tax / Service Tax Registration based on the nature of Business.
Filing ADT-1 for Appointment of First Auditor of the Company within 1 Month of Incorporation of Company and in case the Board fails to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an Extra Ordinary General Meeting appoint such auditor and such auditor shall hold office till the conclusion of the first Annual General Meeting.
Filing Income Tax Return of Company on or Before 30th September every year
To maintain proper Books of Accounts
Get your account books Audited Every Year
Filing of form 20B, Form 23AC, Form 23ACA every Year
PENAL PROVISIONS FOR NON COMPLIANCE
If a company does not maintain proper books of accounts then the company and every officer of the company who is in default shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to three lakh rupees and where the failure is a continuing one, with a further fine which may extend to one thousand rupees for every day, after the first during which the failure continues.
- If a company fails to file Form 23 AC & 23ACA within time, the company shall be punishable with fine of one thousand rupees for every day during which the failure continues but which shall not be more than ten lakh rupees.
If a company fails to file Form 20B before the expiry of the prescribed period, then the company shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakhs rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both.
Frequently Asked Question's
1. Limit on Number of Directors
(Minimum 2, Maximum 15)
2. Limit on No of Promoters / Share Holders
(Minimum 2, Maximum 200)
3. Alteast One Director Should be Resident in India
4. PAN is Not Required in case of Foreign Residents