The Ministry of corporate affairs (MCA), Government of India reduced the fee for registering a private limited company, but you cannot register your business for free. The charges are minimal but they are not free.
Required Document
Passport Size Photograph
PAN Card
Registered Office Proof
Copy of Electricity Bill / Water Bill / Gas Bill
Copy of Aadhaar Card
Address Proof
No Objection Certificate
Advantages
Limited Liability
If a private limited company was in financial trouble and had to close, shareholders would not risk losing their personal assets.
Helpful in Startup India Registration
Under the Startup India scheme you can avail lot of the benefits like raise the funds, subsidy for the trademark registration etc.
Easy Transferable Ownership
It is easier to subscribe or leave the membership of the company. Also it is easier to transfer the ownership.
Selling the Business
As business Corporation value will be based on the business, not the owner, therefore making it easier to sell the company.
Perpetual Succession
The company shall continue to exist till it's wind up in accordance with the provisions of the relevant law.
Raising Money
As per Companies act 2013 a company can sell shares to the public or can accept deposits from public and can therefore raise money easier than other business structure types.
Separate Property
A Company as a legal entity is capable of owning its funds and other properties. The property of Company is not the property of its shareholders.
Better Governed
Companies are governed by the companies Act, 2013 and have to follow various other regulatory procedures during the course of its governance.
Taxation
Companies are often taxed at a lower rate and are provided with better taxable benefits as compared to other forms of business organization.
Capacity To Sue
As a juristic legal person, a company can sue in its name and be sued by others.
Compliance
- Annual ROC filing (AOC-4 and MGT-7)
- Statutory audit of accounts
- Income tax return filing
- Board and general meetings documentation
Process
Name reservation
Filing SPICe+ forms with MCA
Certificate of incorporation & PAN/TAN
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Compliance Packages
Monthly/annual support for filings.