Documentation & Digital Signature
Within one to two days, the promoters may complete the required documents for incorporation. After that, we can initiate the making of digital signatures for all the shareholders and the directors.
If you are thinking of starting a new Private Limited Company in India, the first step is to talk to our Incorporation Expert. We explain key concepts such as Digital Signature (DSC), DIN, MOA, and AOA, as well as the process for Company Registration, timeline, and list of documents. Get started today!
Pvt Ltd is the most popular business type for startups, offering limited liability, restricted share transfer, and perpetual succession. At Setindiabiz, we are your trusted partner, providing a cost-effective approach that covers all legal procedures and document drafting to incorporate your company. No need to navigate complex paperwork or worry about legal intricacies – we’ll guide you through the entire process of Pvt Company registration. We will ensure that the process of incorporating the company is smooth, digital and hassle-free. Choose Setindiabiz and focus on what matters the most: building your dream business in India. Get started today.
Incorporating a Private Limited company is the wisest decision a start-up can take as it offers flexibility, scale and transparency. The features such as limited liability to its promoters, perpetual succession, and restricted share transfer make the pvt ltd the most suitable business type. The first step is to check the eligibility (Minimum requirements to incorporate a pvt ltd company)
To start a company, a minimum of two shareholders is mandatory. These shareholders must sign the MOA as subscribers and contribute the initial capital. The maximum number of shareholders is capped at two hundred.
The directors are responsible for the company’s day-to-day management and compliance with the applicable legislation. A minimum of two individual directors is mandatory, whereas the maximum is capped at fifteen.
One of the company’s directors must have resided in India for at least 120 days during the previous financial years. The Indian resident director is generally responsible for the company’s overall tax and other filing compliance.
The name of the company must be unique and distinct from other companies, LLPs or trademarks and should conform with the name availability guidelines. We will help you with the name search and its approval.
Though no prescribed minimum or maximum capital is required, the promoters must budget the fund’s requirements to start the business and decide the appropriate capital for the company accordingly.
The company’s main object, which shall be defined in the MOA, should be legal and from one specific sector only. We will help you draft the company’s main object and select the correct activity code as per NIC 2008.
Documentation & Digital Signature
Within one to two days, the promoters may complete the required documents for incorporation. After that, we can initiate the making of digital signatures for all the shareholders and the directors.
Name Search & Main Objects Drafting
We conduct the name availability search within a few hours; however, as per our experience, the discussion with the promoters on the proposed name availability and the drafting of the MOA may take time.
Filing for Incorporation
The application for the incorporation of the company is filed in Spice Plus form, where the MOA, AOA, Identity and address proof of promoters, and proof of registered office are filed as attachments. This process can take one to two days.
Incorporation Certificate
After the Spice Plus form is submitted, the Registrar of Companies office checks the application and the attached documents. If everything is found in order, the Incorporation Certificate is issued.
As experienced consultants for company registration, we at Setindiabiz understand the importance of documentation in ensuring a smooth and successful registration process for a Private Limited Company. The list of documents below is for the Company Incorporation by all Resident Indians.
The Income Tax Department in India issues a Permanent Account Number (PAN), which is printed on the PAN Card. All proposed directors and shareholders must submit copies of their PAN cards during the incorporation process, which is a mandatory document.
The Aadhar Card issued by the Unique Identification Authority of India (UIDAI) is mandatory for all Resident Indians. Ensure that your aadhar is linked to the PAN Card and mobile number for OTP-based verification during incorporation, especially when creating a digital signature for you.
Submit a digital copy of the photo of each proposed director and shareholder with a full-face frontal view and a plain white or light-coloured background. Ensure that the photograph is recent and closely matches with other documents.
For Identity proof, the promoters of Pvt Ltd Company may submit any government-issued identity document that is valid and has correct particulars. You should carefully check your name and father's names and ensure they match the details on the PAN Card exactly. For ID proof, any one document from the following.
At the time of incorporation, proof of registered office address is submitted, and the address should not be older than two months. Ensure that the utility bill has the full name of the owner of the premises and complete address with city, state and pin coder. Any one document from below is acceptable:
The owner of the premises where the private limited company shall have its registered office need to issue a No Objection Certificate (NOC) for incorporation of the company at that address. Contact us for the format.
Digital Signature of all Promoters
Making a digital signature (DSC) for all the directors and shareholders is the first step towards Pvt Limited Company Registration. We are the Registration Authority (RA) of Certifying Authorities such as Emudhra, SignX, and others appointed by the Controller of Certifying Authorities of the Government of India. We help DSC applicants collect documents and submit DSC applications to obtain DSC.
Name Search for Availability
The Companies Act 2013 states that the name of a new company must not be the same or similar to an existing company, LLP, or trademark. The rules provide an exhaustive list of names that are undesirable. We help you conduct a detailed Name search.
Drafting of MOA & AOA.
The Memorandum (MOA) and Articles of Association (AOA) are the fundamental legal documents for a company in India. While the MOA primarily defines the object for which the company is incorporated, the AOA provides the rules for the conduct of the business. As these are legal documents, we assist you in drafting them.
Filing of Spice Plus for Incorporation
Finally, Submit the Spice Plus Form to ROC with directors/shareholders' DSC, along with the promoter's documents and proof of registered address for incorporation. The office of the ROC reviews the application and, upon its satisfaction, issues the Certificate of Incorporation.
Company Incorporation Certificate
The certificate of incorporation is conclusive proof that a new company has been established. The COI contains the CIN, PAN and TAN of the company. The DIN Number of the directors are also allotted during the incorporation process.
Incorporation of a company is about the creation of a legal entity that has a separate and distinct existence from its promoters. As a creation of law under the Companies Act 2013, a company has to meet well-defined compliance requirements, which may be classified into three. The first would be activities that the company must do within 30 days. The second set of activities must be done within 180 days, while specific registrations, such as GST and MSME, are need-based. We have identified the fifteen most common compliances that need your attention. Our company registration experts will help you understand them.
| Within 30 Days of Incorporation | Within 180 Days | Need-Based Registrations |
|---|---|---|
|
|
|
| No | Particulars | Company | LLP |
|---|---|---|---|
| 1 | U/s 115BAB: New Manufacturing Domestic Company, starting manufacturing before 31.03.2024 | 15% | NA |
| 2 | U/s 115BAA: Concessional Income Tax for a Company that Opts for this scheme; Cannot claim certain deductions and exemptions (specified in the Act) | 22% | NA |
| 3 | U/s 115BAC: Opting domestic company | 25% | NA |
| 4 | Standard Income Tax | 30% | 30% |
| 5 |
Surcharge on Tax based on Income Level Upto one crore: NIL Between 1 to 10 Crore: 7% Above 10 Crore: 12% |
Yes | Yes |
| 6 | Education Cess 4% on Income Tax & Surcharge (if any) | Yes | Yes |
| 7 | Tax Deductions for Expenses | Yes | Yes |
| 8 | Depreciation on Assets | Yes | Yes |
| 9 | Dividend or Profit Distribution Tax | No | No |
| 10 | Tax on dividend or profit | Yes | Yes |
| 11 | Carry Forward of Losses | Yes | Yes |
| 12 | Minimum Alternate Tax (MAT) | Yes | No |
| 13 | Income Tax Return Filing | Mandatory | Mandatory |
No, GST Registration is not required for company registration at all. The incorporation process has created a new legal entity in India. GST is applied to the new company only after it comes into existence. Therefore, GST is not a prerequisite for the incorporation of companies in India.
Section 4 of the Companies Act states that a new company in India can only be registered with a unique name that is not the same or similar to an existing business, including a company, LLP, or trademark. Sometimes, the desired company name may not be available, or the application for name reservation may be rejected by the ROC. We advise our customers to consider alternative names, as ROC has discretion in approving or rejecting names based on regulations.
No, the physical presence of the promoters is not needed as the entire incorporation process is digital and no physical paper is submitted to the ROC.
Yes, under section 139 of the Companies Act 2013, every company has to get its books or financial statement audited by a practising chartered accountant before the AGM.
Yes, a person employed on salary in any other organisation can be a director in the Private Limited Company.
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