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PRIVATE LIMITED COMPANY
WHY PRIVATE LIMITED (PVT. LTD.) COMPANY ?
A Private Company is most common & highly adopted option for registration of business in India.
Start-ups and growing companies prefer private limited company as it allows to raise fund easily, limits the liabilities of its shareholders & better recognitions.
A private limited company can have a minimum of two members and a maximum of two hundred members.
KEY POINTS FOR REGISTRATION OF PRIVATE LIMITED COMPANY
REGISTRATION WITH UNIQUE NAME
Registration of Private Limited Company with Central Government (Ministry of Corporate Affairs) with unique name not be same or similar to the name of any
existing company or a trademark.
MULTIPLE BUSINESS FROM SINGLE PLATFORM
All the multiple diversified business can be operated from single platform of Private Limited.
TAX BENEFITS
A Private Limited Company registered under Companies Act 2013 & having turnover up to 250 Crore are taxed @ 22% Per Annum, whereas Partnership, LLP are taxed @ 30 %.
The Proprietor are taxed as per slab rate, Proprietors have income above 15 Lakhs are taxed at 30%.
A director can receive remuneration, you can rent your property to company can receive rent, as a creditor you can lend money to your own company and earn interest.
Directors’ remuneration, rent and interest are deductible expenses which reduces the profitability of the Company and ultimately brings down taxable income of your business.
DISTRIBUTION OF INCOME @ 100%
EASY LOAN
Better borrowing capacity from banks and public, Banks & financial institute provide funds to company rather than to individual proprietary concern or partnership firm.
Company can pay salary to directors @ 100% of net profit.
Partnership & LLP can pay salary to Partners in follow ratio:-
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On first 3 Lakh of Book profit or loss - 1,50,000 or 90% whichever is more.
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On Balance amount- at a rate of 60% of Book Profit.
Partnership & LLP has to pay tax @ 30 % plus Cess on balance book profit.
BETTER CREDIBILITY & INCREASE IN VALUATION
PERPETUAL EXISTENCE
Separate Legal Perpetual Existence of Business, doesn’t get affected by death of member or director.
CHANGES IN MANAGEMENT IS EASY
Changes in the Board of management of a Private Limited Company can easily and swiftly be made just through filing some simple forms with ROC.
The Private Limited Companies offer greater creditability than that provided by unregistered proprietorship or partnership or LLP.
Gradually increase in valuation of your business venture, as your business progress.
LIMITED LIABILITY OF MEMBERS
Limited liability of members in company debts.
In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors.
EASY TRANSFER OF SHARES
COMPANY CAN HOLD PROPERTY
Company can hold residential or commercial property in its own name. The Company can enter into transactions in its own name.
The ownership of a private limited company is determined by the shareholding of the Company.
The Share can be easily transferred with the consent of transferor, transferee & Board.
A private limited company is considered to be a “closed corporation” of members. Therefore, the share transfer in a Private Limited Company can be restricted by the Articles of Association (AOA).
ANNUAL COMPLIANCES
The Private Limited Company requires to get their financial Statement (Balance Sheet & Profit & Loss Account) audited every year & file Annual Return & Audit Financial Report to Registrar of Companies (ROC).
The Company requires to hold Board & Annual General Meeting at regular interval.
DOCUMENTS FOR REGISTRATION OF PRIVATE LIMITED COMPANY
DOCUMENTS OF DIRECTORS/MEMBERS
(FOR MINIMUM 2 MEMBERS)
Passport size photo.
PAN Card.
Aadhar Card or Passport or Voter Id or Driving License (Any two).
Copy of Bank Passbook, Bank Statement, Mobile Bill or Telephone Bill (not more than 2 months old).
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DOCUMENTS OF REGISTERED OFFICE ADDRESS
Electricity or Phone Bill or Mobile Bill of office address.
Landlord NOC (Format will be provided).
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OUR PACKAGE
ALL INCLUSIVE PACKAGE INCLUDES
Digital Signature Certification of 2 Director.
DIN of 2 Directors.
Unique Name Search & Approval.
Authorized Share Capital of upto 10 Lakhs.
Incorporation Certificate, MOA & AOA.
PAN Number & TAN Number.
Bank Account Opening Documents.
PF & ESIC Registration
Professional Tax Registration
Government Fees.
Stamp Duty.
Professional Fees.
Advise from Expert.
