Documents Required
PAN Card
Passport (Foreign Nationals Only)
Aadhaar Card
Company Registration
Company registration including Government Fee & Stamp Duty*. Incorporation kit with share certificates.
Complete By* : 5-NOV-2022
About this item
Pricing Summary
| Market Price: | ₹12000 |
|---|---|
| IndiaFilings: | ₹6694 excl. GST |
| ₹7899 incl. GST | |
| GST Credit: | ₹1205 |
| You Save: | ₹5306 (44%) |
| Government Fee: | Included |
Company Registration in India
In India, company registration can be completed online through IndiaFilings. Private limited company is the most common type of legal entity that is preferred by millions of Indian Entrepreneurs and popular startups like Flipkart, PhonePe and Swiggy. A private limited company can be registered online in less than 10 days at a very affordable price of just Rs. 7899.
What is a Private Limited Company?
A Private Limited Company (PLC) is one of the most common types of legal entityin India. Private Limited Companies are governed by the Companies Act, 2013 and require a minimum of 2 Directors and 2 Shareholders with one of the Directors being an Indian Resident and Indian Citizen.
To register a company in India, the following are minimum requirements:
100% Foreign Direct Ownership (FDI) is permitted in most sectors in India and there is no restriction on foreign shareholding of a private limited company. Hence, most foreign subsidiaries are established in India as private limited company.
Documents Required for Company Registration
The proposed directors of a private limited company must present the following documents as proof of identification in order to register a company:
Indian Nationals: PAN card mandatory
Foreign Nationals: Passport is mandatory
In addition to the above document, the Directors must submit one of the following documents that contain the address of the Director.
Indian Nationals: Passport / Driver’s License / Election ID / Ration Card / Aadhar ID
Foreign Nationals: Drivers License / Bank Statement / Residence Card
Finally, as proof of residency, the prospective Directors must produce one of the following documents. This document must have been generated within the last two months:
Indian Nationals: Bank Statement / Electricity Bill / Phone Bill
Foreign Nationals: Bank Statement / Electricity Bill / Phone Bill
If one of the company’s shareholders is a company based in India or abroad, the following documents must be submitted:
Capital Required to Start a Company
A company can be started in India with a very minimum amount of capital. There is no fixed amount and the shareholders of the company being incorporated can determine the capital they wish to contribute. While setting up the capital structure of the company, the following are some of the concepts to be kept in mind:
Face Value of Share: The face value of a share is the price per share with which the company is incorporated. Normally, the face value of share is Rs. 1 or Rs. 10 or Rs. 100 or Rs. 1000 or Rs. 10,000.
Authorised Capital: Authorised capital is the total value of shares a company can issue to shareholders. Normally, all companies are incorporated with an authorized capital of Rs. 1 lakh or Rs. 10 lakhs. If a higher authorized capital is required, the company would be required to pay additional fees to the Ministry of Corporate Affairs. The authorised capital of a company can be increased at any time after incorporation.
Paid-up Capital: Paid-up capital of a company is the number of shares issued to shareholders for which they have paid or deposited money to the company. Paid-up capital of a company cannot be more than the authorized share capital of the company.
Company Registration Process
The following are the steps involved in registering a company in India:
Step 1: RUN Name Approval
An application for company name approval is first submitted to the Ministry of Corporate Affairs to reserve the company name. In the name approval application, 1 or 2 names with business objectives can be submitted. If a name approval is rejected, 1 or 2 more names can be resubmitted. Normally, the MCA approves all name approval applications in less than 5 working days.
Step 2: Digital Signature for Directors
In India, the Ministry of Corporate Affairs does not allow wet signatures. All signatures for filings with the MCA must be completed with a digital signature that is issued by a Certification Authority in India. Hence, digital signatures are mandatorily required for the Directors before incorporation.
Digital signature for the Directors will be obtained through an Authorized Certifying Authority by IndiaFilings. To obtain Digital Signature, the Directors will have to submit a copy of their identity proof and complete a video KYC process. If the Director is a foreign national, the passport and other documents submitted must be apostilled by a local embassy.
Step 3: Incorporation Application Submission
Once the digital signatures are obtained, the incorporation application can be filed in SPICe Form to the MCA with all relevant attachments. Along with the incorporation application, the Memorandum of Association (MOA) and Articles of Association (AOA) of the company are filed. If the MCA finds the incorporation application to be complete and acceptable, the Incorporation Certificate is granted along with PAN of the company. The MCA normally accepts all incorporation applications in less than 5 working days.
Private Limited Company Compliances
Once a company is registered in India, various compliances must be maintained from time to time to avoid penalties and prosecution. The following are some of the compliances a company would be required to complete after company registration:
Auditor Appointment: All companies registered in India must appoint a practicing and licensed Chartered Accountant registered with the ICAI within 30 days of incorporation.
Director DIN KYC: All persons who hold a Director Identification Number (DIN) – which is allocated during the incorporation process must complete DIN KYC each year to validate the phone and email address on record with the Ministry of Corporate Affairs.
Commencement of Business: Within 180 days of incorporation, the company must open a Bank Current Account and the shareholders must deposit the subscription amount mentioned in the MOA of the company. Hence, if the company was to be incorporated with a paid-up capital of Rs. 1 lakh, then the shareholders must deposit Rs. 1 lakh in the Company’s bank account and file the bank statement with the MCA to obtain a commencement of business certificate.
MCA Annual Filings: All companies registered in India must file a copy of the financial statements with the Ministry of Corporate Affairs each financial year. If a company is incorporated between January – March, the company can choose to file the first MCA annual return as a part of the next financial year’s annual filing. MCA annual return consists of Form MGT-7 and Form AOC-4. Both these forms must be digitally signed by the Directors and a practising professional.
Income Tax Filing: All companies must file an income tax return using Form ITR-6 each financial year. Income tax filing must be done for each financial year before the due date – irrespective of the incorporation date. The income tax return of a company must be digitally signed using one of the Director’s digital signature.
Registered Office of Company
All companies registered in India are required to maintain a registered office in India. The registered office must have a board with the name of the company and should be a place where notice or communication if any can be served. Hence, the registered office of a company cannot be vacant land or under construction premises.
After incorporation, the registered office of a company can be changed if required. In case the registered office is changed within the same city or same Registrar of Company, the process can be completed easily. In case the registered office of a company is changed from one state to another, the process would be longer and more cumbersome.
GST Registration after Company Registration
During the company registration process, the Directors can opt to obtain GST registration along with the incorporation. However, it is not mandatory for a company to be registered under the GST unless certain turnover limits are crossed. You can know more about the turnover limit and process for obtaining GST registration in our detailed guide on GST registration in India.
Bank Account for Private Limited Company
After company registration, a bank current account must be opened in the name of the company within 180 days and the subscription amount must be deposited. If the above steps are not completed, the commencement of business certificate would not be issued and a penalty would be applicable.
The following are documents required to open bank account for a private limited company:
At IndiaFilings, we work with various banks to help our clients open a current accounts for their companies in a seamless fashion.
Advantages of Private Limited Company
The following are the major advantages of incorporating a private limited company in India versus other entity types.
Separate Legal Entity
A company is both a legal entity and a juristic person. Therefore, a company has broad legal rights to like acquiring property, incurring debts, hiring people, etc. As a company is a separate legal entity, the company’s members (shareholders or directors) are not personally liable for the company’s liability.
Limited Liability
A private limited company is a separate legal entity with limited liability provisions. Therefore, the shareholders are not liable for the losses of the company – for an amount more than what was invested by them into the company as share capital.
Uninterrupted Existence
A company has ‘perpetual succession,’ which means it will continue to exist until it is legally dissolved. Because a company is a separate legal entity, it is unaffected by the death or other departure of any of its members, and it continues to exist regardless of membership changes.
Fund Raising
A private limited company has multiple options for fundraising. A company can raise funds from shareholders, investors, angels, venture capital funds, private equity funds, foreign funds, NBFCs, banks and other financial institutions. Only a company can raise debt and equity funds from investors.
Disadvantages of Private Limited Company
While a company has various advantages, registering a company may not be ideal for all entrepreneurs due to the following reasons:
Compliances
A company has to mandatorily maintain various compliances irrespective of business turnover or activity. Hence, operating a company involves a minimum recurring cost each year.
RELATED GUIDES
- Private Limited Company Registration – Process & Documents Required
- How to open a current account for a Private Limited Company?
- Convert a Sole Proprietorship to a Private Limited Company
- Conversion of Limited Company into Private Limited Company
- Declaration of Interim Dividend by Private Limited Company
- Conversion of Private Limited Company into LLP
- Private Limited Company Tax Rate 2022
Zero Late Fee Platform
Many small businesses pay lakhs in penalty every year to the Government for late filing various statutory returns. Such penalty or late fee paid is not tax deductible and is a drain on profitability. At IndiaFilings, our mission is to provide the most affordable services to our customers and help them avoid all late fee.To achieve our mission – we have built enterprise grade technology to help you proactively know the upcoming compliance and avoid penalty.Checkout our compliance services below, talk to an Advisor and stop paying unwanted late fees.
MCA Compliance
Every registered entity has to comply with all the compliance obligations after the completion of each financial year. Majorly, it includes the audit of books of accounts, income tax return filing, and annual forms with the MCA.
| Form | Company Compliance | Due date | Penalty |
|---|---|---|---|
| COB Filing | Commence of Business Certificate | To be filed before 180 days of company Incorporation | Rs.50,000 for non-compliance |
| DIR 3 EKYC | For every person with DIN | Before 30th September every year | Rs.5000 penalty if the DIN is deactivated |
| Form ADT 1 | Appointment of auditor | Within 30 days of Company incorporation | Rs.300 per month |
| Form AOC 4 | Filing financial statements of the company | 30 days from the conclusion of the AGM | Rs.100 per day |
| Form MGT 7 | Annual Returns of the Company | 60 days from the conclusion of the AGM |
In addition to the above filings, depending on the type of entity and business activity more compliance filing maybe applicable. Please check with an Online Legal Center Advisor to help you with the compliance for your company.
All Limited Liability Partnerships (LLP) registered in India are required to file statutory returns with the Ministry of Corporate Affairs (MCA) each year. LLPs having a sales turnover of over Rs.40 lakhs or capital of over Rs.25 lakhs will also be required to complete a statutory audit. Online Legal Center can help you maintain your LLP Compliance at a very affordable price.
| Form | LLP Compliance | Due date | Penalty |
|---|---|---|---|
| DIR 3 KYC | For every person with DIN | Before 30th September every year | Rs.5000 penalty if the DIN is deactivated |
| Form 11 | Annual Returns | 30th May | Rs.100 Per day |
| Form 8 | Statements of Accounts and Solvency | 30th October |
| Entity | Form | Due date |
|---|---|---|
| Private Limited Company | ROC Filings | 15th February 2022 |
| ITR 6 | ||
| GSTR 9 | 20th February 2022 | |
| Limited Liability Partnership | ITR 5 (Non audit case) | 15th February 2022 |
| Form 11 | 31st August 2021 | |
| Form 8 | 30th October 2021 |
Note : Irrespective of the Turnover Advance Tax payment is to be done before 31st March 2022.
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One of my friend recommended me Online legal center while I was searching online for a lawyer to help me with a property dispute I was having with my neighbor. I was really pleased with the services I received. The lawyer I worked with was very professional and knowledgeable and was able to resolve my issue quickly and efficiently. I would definitely recommend Online legal centre to anyone who needs legal assistance.
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This legal firm has been a great help to me in getting my legal documents in order. The process was very simple and straightforward and the team was very professional and helpful. I would definitely recommend their services to anyone looking for legal assistance. Thank you Online Legal Center for standing by my side. i Advice Get the Best Legal Advice In India At Online Legal Center
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Affordable and Quick Company Registration at Online Legal Center
Registering your new company is quick and affordable thanks to Online Legal Center. You can easily register your company, whether it is Limited Liability Partnership (LLP), One Person Company (OPC), Private Limited Company, or Public Limited Company, by contacting our experts through email, WhatsApp, or phone. It is as easy as that. Sole proprietorship can be registered or unregistered.
Experts at Online Legal Center carry forward the company registration, which is done under the compliance of Ministry of Corporate Affairs (MCA). The experts perform all the legalities involved in registration. Once the registration is completed, it goes for approved by the MCA. On getting the approval, you receive Certificate of Incorporation (CoI), your PAN and TAN. You are now eligible to open a separate business account in the bank and can start running your business.
Documents required for company registration
- ID proof and color photos of the company owner/partners.
- PAN card of each owner/partner/shareholder.
- Address proof of owner/partner/shareholder.
- Proof of registered business or office space (it could be your home or commercial space wherever you intend to start business).
- Rental agreement of the office, if applicable.
- Sales deed/ownership proof, in case the space is owned.
Process
The process of company registration gets easier and speedier when you contact Online Legal Center.
- Contact the center and make the necessary payment.
- The expert will contact you.
- Discuss with them your legal requirement.
- Produce the required documents.
- Experts will begin the process and file the documents and submit them.
- Digital Signature Certificate is generated.
- Director Identification Number (DIN) is generated.
- The experts will draft the deed.
- Registration fee is to be paid to the ROC.
- Registration is done.
- Once the approval is obtained by the ROC, you will receive the certificate to commence business shortly.
Comparing different types of companies
| Limited Liability Partnership | Private Limited Company | One Person Company | Public Limited Company | Sole Proprietorship | Partnership Firm | |
|---|---|---|---|---|---|---|
Comes under |
Limited Liability |
Companies Act, 2013 |
Companies Act, 2013 |
Companies Act, 2013 |
No specific act |
Indian Partnership |
|
|
Partnership Act, 2008 |
|
|
|
|
Act, 1932 |
Registration |
Compulsory |
Compulsory |
Compulsory |
Compulsory |
Not Compulsory |
Optional |
Members |
Minimum - 2
Maximum – unlimited
|
Minimum – 2
Maximum -200
|
One
|
Minimum – 7 shareholders
Maximum - unlimited
|
One
|
Minimum – 2
Maximum – 50
|
Transfer of ownership |
Possible
|
Possible
|
Not possible
|
Freely transferable
|
Not possible
|
Not possible
|
Foreign members |
Allowed
|
Allowed
|
Not allowed
|
Allowed
|
Not allowed
|
Not allowed
|
Is this a distinct legal entity? |
Yes
|
Yes
|
Yes
|
Yes
|
No
|
No
|
Statutory audit |
Depends
|
Compulsory
|
Compulsory
|
Compulsory
|
Not compulsory
|
Not compulsory
|
Tax rates |
High |
Moderate |
Moderate |
High |
Less |
Less |
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Frequently Asked Questions (FAQs)
It usually takes around two weeks to get a company registered. Experts at Online Legal Center see to it that the registration process is done as quickly and hassle free as possible.
There is no fixed amount specified by the law to register LLP. You can register with any amount of capital. This can be said as one of the benefits of LLP.
As per law, it is not mandatory for LLP to pay taxes on the profit shared by partners. It is also not mandated to pay surcharge on income tax.
Yes. Family members can become partners in business or company. Later on, you can transfer partnership if you want. In both cases, company registration and transfer of ownership, lawyers at Online Legal Center can helps you with the best legal advice and assistance.
No. It is not possible to turn LLP into Private Limited Company as both companies are regulated under different Acts. However, you can open a separate Private Limited Company in the same name as that of existing LLP after obtaining a No-Objection Certificate from the existing LLP.
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Property dispute
One of my friend recommended me Online legal center while I was searching online for a lawyer to help me with a property dispute I was having with my neighbor. I was really pleased with the services I received. The lawyer I worked with was very professional and knowledgeable and was able to resolve my issue quickly and efficiently. I would definitely recommend Online legal centre to anyone who needs legal assistance.
Legal documents
This legal firm has been a great help to me in getting my legal documents in order. The process was very simple and straightforward and the team was very professional and helpful. I would definitely recommend their services to anyone looking for legal assistance. Thank you Online Legal Center for standing by my side. i Advice Get the Best Legal Advice In India At Online Legal Center
Cybercrime legal service
I am really grateful to Online Legal Centre for their excellent cybercrime legal services. Online Legal Center have helped me a lot in dealing with my legal issues and I am really satisfied with their work. Their team of lawyers is very experienced and knowledgeable and they have provided me with great legal advice. I would definitely recommend their services to anyone who needs legal assistance.
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I found Online legal center while I was searching for a lawyer online who could help me with a legal issue I was facing. I was really impressed with the professionalism of the website and the services they offered. I was able to find a lawyer who was able to help me with my issue and I am really happy with the outcome. I would definitely recommend Online legal center Pvt. ltd. to anyone who needs legal assistance. Best Legal Advice In India
Divorce Service
My experience with my lawyer in Online Legal Center was an excellent one. She had good culture knowledge and awareness so l didn’t have to struggle to make her understand my story. She would get in touch with updates regularly despite her busy schedule. She helped me to get a positive outcome over domestic violence issue l had struggled with since 2020. I recommend this legal firm to anyone in similar problem. Best legal firm I have ever come in contact.
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We offer some of the lowest prices in the industry.
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Our team of lawyers are certified through the Bar Council of India and have worked on umpteen numbers of cases successfully.
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We provide legal guidance + our lawyers serve as pillar of strength to the clients to help them cope with the stress of cases.
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