How To Easily Register A Private Limited Company In India – Complete Guide

Starting your very own business is the realisation of a dream for many business people in and around India. There are a multitude of different structures that you could use to set up your business and a Private Limited Company (Pvt Ltd Company) is one of the most common structures for starting and growing business. There are numerous advantages to registering a Pvt Ltd company including limited liability protection, a degree of credibility, and avenues for raising funds. For many people it can be a great option.

What is a Private Limited Company?

Private limited companies must have at least 2 members and no more than 200 members. The company cannot sell its shares publicly and cannot issue securities to any company or resident outside of India.

Private Limited Company Benefits Every Entrepreneur Should Know

Before going into particulars, it’s worth noting the benefits of this structure:

Limited Liability: If the company makes a loss or incurs debt, the personal assets of shareholders are safe.

Separate Legal Entity: A company is a separate legal identity, independent of its owners.

Perpetual Existence: The company is able to exist even when the owners change.

Credibility: Pvt Ltd is more credible to investors, banks and suppliers when compared to an unregistered company.

Easier to raise fund: It is easier to raise fund from angel investors and venture capitalists.

Step by Step Process to Register a Private Limited Company

Since the Ministry of Corporate Affairs (MCA) is providing online services, registering a Pvt Ltd Company in India is now much easier. Below is an outline of the process to become a incorporated Comparison Ltd Company:

Apply for Digital Signature Certificate (DSC)

The first step is to apply for Digital Signature Certificates (DSCs) for all the proposed directors and the subscribers of the Memorandum of Association (MoA) and Articles of Association (AoA). A DSC is needed because all forms to be submitted for company registration will be submitted online and will require a digital signature.

How to Apply for DSC:

Go to a Registrar of Certifying Authorities (like eMudhra, Sify, NSDL). Present the set of documents – PAN card, Aadhaar card, and pictures.

Apply for DIN:

A Director Identification Number is needed for everyone wanting to become a company director. A DIN can either be requested when completing the SPICe+ (INC-32) application or separately through DIR-3 form if no DIN exists.

Company Name (Reserve your company name):

You must have a company name reserved and the name needs to comply with Companies Act requirements. You can secure a name reservation using the Reserve Unique Name (RUN) service provided through the MCA, or have those completing the SPICe+ Part A application form apply for a reservation. Whenever you apply for a name, you must take into consideration that the name does not interfere with previously existing company name or trademark.

Pro Tip: It is a good idea to have prepared two alternate names if your chosen name is rejected.

Compile the Required Documentation

Documents you will need to prepare and order include:

Memorandum of Association (MoA)

Articles of Association (AoA)

Directors and Subscribers Declaration (Form INC-9) 

Proof of registered office address (latest Not-Utillity Bill, NOC from owner)

Identity and address proof of all directors and owners

PAN and Aadhaar cards

Passport size photographs

File the SPICe+ Form (INC-32)

The SPICe+ form is a unified web form which enables the following:

Name reservation

Incorporation

DIN allotment

PAN and TAN Application

EPFO & ESIC registration

GSTIN (Applicable)

Fill in all details accurately and upload the supporting documents. Once completed, submit the form with the prescribed fee on the MCA portal.

Payment of Stamp Duty and Fees

The stamp duty (payable as applicable per state) will depend on your company’s authorized capital. Your registration fee will also depend on your company’s capital structure.

Certificate of Incorporation (COI)

The Registrar of Companies (ROC) will authenticate your application, once approved they will email you your Certificate of Incorporation. Your COI states your firm is legally incorporated, it will also contain your Corporate Identification Number (CIN).

Apply for PAN, TAN & Company Current Bank Account

Once your company is incorporated, your company will also get a PAN and TAN automatically from the Income Tax Department. The next step after this will be to open a current bank account for your company. The current bank account documents would be the COI, MoA, AoA, PAN, and KYC documents.

Cost of Incorporating a Private Limited Company

The cost of incorporating a Private Limited Company can vary based on the amount of professional fee you pay and your authorized capital. Government fees are generally around ₹7,000–₹10,000 and depending upon the professional (CA, CS, or legal consultant) the professional fee for registering your Private Limited Company would cost around ₹15,000–₹30,000 for the entire process of that Professional.

Important Points to Note

There needs to be a minimum of 2 directors & a minimum of 2 shareholders.

At least one director must be an Indian resident.

You will have to provide a registered office address within 30 days of incorporation.

Your company will need to keep up with annual compliance and filings for it to remain operational.

Conclusion

Registering a Private Limited Company in India now is much faster and easier thanks to the civil service experiencing a digital transformation, but we still encourage you to get professional advice to avoid mistakes and ensure that you are compliant! If you have a Pvt Ltd Company registered correctly you will be able to add credibility to your company, safeguard your assets and set yourself up for future expansion.

Whether you are a founder who is just starting on your first startup, or a freelancer, or even a small business owner, this structure will help you scale you legitimate dreams!

Simplifying Compliance: Lexwell Adviser’s Guide To Online GST Registration, Import Export Code Registration, And Digital Signature Registration

Tax Return Financial Form Concept

In today’s fast-paced business environment, ensuring compliance with various legal and regulatory requirements is crucial for smooth operations. Whether you’re a budding entrepreneur or an established business, understanding the intricacies of Online GST Registration, Import Export Code (IEC) Registration, and Digital Signature Registration can save you time, resources, and potential legal hassles. At Lexwell Adviser, we specialize in guiding businesses through these essential processes, ensuring a seamless experience.

1. Online GST Registration

Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax levied on every value addition. It has replaced many indirect taxes in India, creating a unified market. Registering for GST is mandatory for businesses whose turnover exceeds the threshold limit. Here’s a step-by-step guide to simplify the process:

Step 1: Gather Required Documents

  • PAN card of the business or individual
  • Proof of business registration or incorporation certificate
  • Identity and address proof of promoters/directors with photographs
  • Address proof of the business premises
  • Bank account statement/cancelled cheque
  • Digital signature

Step 2: Visit the GST Portal Log in to the GST portal (www.gst.gov.in) and fill out the necessary details in the registration form.

Step 3: Verification Submit the application along with the required documents. The GST officer may verify the information provided and ask for additional documents if necessary.

Step 4: GSTIN Issuance Upon successful verification, a unique GST Identification Number (GSTIN) is issued to the business.

Benefits of Online GST Registration:

  • Legitimacy to the business
  • Input tax credit
  • Legal recognition as a supplier of goods or services
  • Ability to collect tax from customers and pass on the credit of the taxes paid on the goods or services supplied

2. Import Export Code Registration

For businesses engaged in international trade, an Import Export Code (IEC) is a prerequisite. The IEC is a unique 10-digit code issued by the Director General of Foreign Trade (DGFT). Here’s how to obtain it:

Step 1: Prepare the Necessary Documents

  • PAN card of the business or individual
  • Passport-size photograph of the applicant
  • Copy of a cancelled cheque leaf/banker certificate of the current account in the business’s name

Step 2: Apply Online Visit the DGFT website and fill out the online IEC application form. Upload the required documents and pay the application fee.

Step 3: Submit and Track Application Submit the application and note the unique application number to track the status.

Step 4: IEC Issuance Once the application is processed and verified, the IEC is issued.

Benefits of IEC Registration:

  • Facilitates international trade
  • Avails benefits from DGFT, Export Promotion Council, and customs authorities
  • No need for renewal; the code is valid for a lifetime

3. Digital Signature Registration

In an era where digital transactions are the norm, a Digital Signature Certificate (DSC) is essential for secure online transactions. A DSC authenticates the identity of the individual or business while signing electronic documents. Here’s how to get one:

Step 1: Choose the Type of DSC There are three types of DSCs: Class 1, Class 2, and Class 3. Determine the type based on your requirement (e.g., e-filing, tender submission).

Step 2: Prepare Documents

  • Passport-size photograph of the applicant
  • PAN card and Aadhaar card of the applicant
  • Address proof (e.g., utility bill, passport)

Step 3: Visit a Certifying Authority (CA) Choose an authorized certifying authority that issues DSCs. Fill out the application form and attach the necessary documents.

Step 4: Verification and Issuance The CA will verify the documents. Upon successful verification, the DSC is issued and can be used for online transactions.

Benefits of Digital Signature Registration:

  • Enhanced security in digital transactions
  • Saves time and reduces paperwork
  • Legal validity under the Information Technology Act, 2000
  • Required for various government and corporate e-tenders

Why Choose Lexwell Adviser?

At Lexwell Adviser, located in Panchkula, Haryana, we pride ourselves on offering expert guidance and support for all your compliance needs. Here’s why you should choose us:

Expertise: Our team comprises seasoned professionals with in-depth knowledge of GST, IEC, and digital signature processes.

Personalized Service: We understand that each business is unique, and we tailor our services to meet your specific requirements.

Efficiency: Our streamlined processes ensure quick and hassle-free registration, saving you time and effort.

Transparency: We maintain complete transparency in our services and fees, ensuring no hidden costs.

Client-Centric Approach: Your satisfaction is our priority. We are committed to providing prompt and reliable support throughout the registration process.

In conclusion, navigating the complexities of Online GST Registration, Import Export Code Registration, and Digital Signature Registration can be daunting. However, with the right guidance and support from Lexwell Adviser, you can ensure compliance with ease and focus on what matters most – growing your business. Contact us today to get started!

Lexwell Adviser: Your Reliable Partner For Streamlined Company And GST Registrations In Panchkula, Haryana

GST returns

In today’s fast-paced business landscape, ensuring proper legal compliance is paramount for the success and sustainability of your venture. At Lexwell Adviser, we understand the complexities of navigating the regulatory framework, especially when it comes to company registration and GST compliance. Based in Panchkula, Haryana, we are your one-stop solution for all your business registration needs, offering seamless services for private company registration, LLP registration, online GST registration, and GST return filing.

Private Company Registration:

Establishing a private company is a significant milestone in your entrepreneurial journey. With Lexwell Adviser by your side, the process becomes streamlined and hassle-free. Our team of expert professionals guides you through every step of the registration process, from name reservation to obtaining the Certificate of Incorporation. We ensure compliance with all legal requirements, allowing you to focus on building and growing your business with confidence.

LLP Registration:

Limited Liability Partnership (LLP) offers the benefits of both a partnership and a corporation, making it a popular choice among entrepreneurs. At Lexwell Adviser, we assist you in registering your LLP efficiently and cost-effectively. Our dedicated team ensures that all documentation is prepared accurately and submitted timely, enabling you to enjoy the advantages of limited liability while conducting your business with ease.

Online GST Registration:

Goods and Services Tax (GST) has revolutionized the Indian tax system, streamlining taxation processes and fostering economic growth. Whether you’re a new business or an existing entity looking to register for GST, Lexwell Adviser simplifies the process for you. Our online GST registration service is designed to minimize complexity and maximize convenience. We handle all aspects of the registration process, ensuring compliance with GST laws and regulations.

GST Return Filing:

Filing GST returns accurately and punctually is crucial to avoid penalties and maintain good standing with the tax authorities. Lexwell Adviser offers comprehensive GST return filing services tailored to your business requirements. Our experienced professionals meticulously prepare and file your GST returns online, keeping you updated on your tax liabilities and ensuring compliance with GST regulations.

At Lexwell Adviser, we are committed to delivering exceptional service and personalized attention to each client. With our in-depth knowledge of company law and taxation, we provide reliable guidance and support to help you achieve your business goals. Partner with Lexwell Adviser today and experience the peace of mind that comes with expert assistance in company and GST registrations.

Lexwell Adviser’s Guide To Navigating Business Registration In Panchkula

Business Registration

Introduction:

At Lexwell Adviser, settled in the heart of Panchkula, Haryana, we understand the matters and difficulties of enlisting an organization in India. Whether you are hoping to lay out a confidential restricted organization or a public restricted organization, our group of specialists is here to direct you through each step of the cycle. This blog entry expects to demystify the strategies for private and public organization enlistment, furnishing you with all the data you need to start your pioneering venture on the right foot.

Understanding the Basics: Private vs. Public Company Registration

Prior to plunging into the enlistment interaction, understanding the distinctions between a private and a public company is vital. On the other hand, a public restricted organization offers to people in general and can have a limitless number of investors. The decision between the two relies upon your business objectives, the ideal size of tasks, and financing necessities.

Step-by-Step Guide to Private Company Registration in Panchkula

Name Endorsement: Present an application to the Service of Corporate Issues (MCA) for the endorsement of your organization’s name. Guarantee that the name is unique and reflects your business.

Documentation: Set up the fundamental reports, including the Reminder of Affiliation (MoA) and Articles of Affiliation (AoA), specifying the organization’s guidelines, obligations, and shareholding structure.

Recording Structures with MCA: When the archives are ready, document them alongside the application structure on the MCA entry.

Getting Consolidation Declaration: After the check of reports and structures, the MCA will give a joining endorsement. This archive is a verification of the presence of your organization.

Navigating Public Company Registration

Enlisting a public restricted organization includes a couple of extra advances compared with a confidential restricted organization:

Least Investors and Chiefs: A public organization should have something like seven investors and three chiefs.

Name Endorsement, Documentation, and Recording: These means are similar to the cycle for a confidential, restricted organization, with changes made to the reports to mirror the idea of a public organization.

Outline Recording: Dissimilar to privately owned businesses, a public organization should document a plan with the SEBI, itemizing monetary data and strategies for likely financial backers.

Why choose Lexwell Adviser for your company registration?

Picking Lexwell Consultant implies cooperating with a group that brings long periods of involvement and a profound comprehension of the legitimate scene in Panchkula, Haryana, and then some. Our administrations stretch out past organization enlistment, including legitimate exhortation, consistence support, and progressing discussion to guarantee your business begins the right groundwork as well as proceeds to develop and succeed.

Client Testimonials

Hear from our fulfilled clients who have effectively enrolled their organizations with the assistance of Lexwell Counsel:

“The group at Lexwell Counselor made seemingly an overwhelming interaction clear and bother free.

“Enrolling a public restricted organization was a major step for us. Lexwell Counsel directed us through each step, guaranteeing we were agreeable and all set public.” – Priya D., Chief of GreenTech Arrangements.

Conclusion:

Whether you’re hoping to lay out a private or public organization in Panchkula, Haryana, Lexwell Consultant is your confided in accomplice. With our master direction and complete help, we make the organization enlistment process consistent and tranquil. Reach out to us today to start your pioneering venture with certainty and lucidity.