What is a private limited company?

According to Section 2(68) as per Company law 2013, A Private Company means to restrict the right to transfer its shares, except in a case One Person Company (OPC) limits the number of its members to 200. They are non-government organizations.

A question has arisen!! How and why? we take Private Company Registration. The Answer to these questions depends on your type of business and on other things like how much amounts you want to invest. How many people want to do business?

Then, you also need a good guide to perform all types of work. Auriga Accounting Private Limited provides you best services in India, Delhi, Malviya Nagar, and Saket with full guidance and Advantages about Private Limited Registration.

Who Is Eligible For Private Limited Company Incorporation

• Minimum number of members: A private limited company must have a minimum of two members or shareholders to be incorporated. The maximum number of members allowed is generally limited to 200.
• Directors: A minimum of two directors is required for the incorporation of a private limited company. At least one of these directors must be a resident of India, meaning they have resided in India for a cumulative period of at least 182 days in the previous calendar year.
• Shareholders: A private limited company can have shareholders who own shares in the company. The shareholders can be individuals or other legal entities.
• Legal capacity: The proposed members and directors must have the legal capacity to enter into contracts and be responsible for the obligations of the company.
• Compliance: Incorporators must comply with the requirements and procedures set forth by the Companies Act 2013, such as filing the necessary documents, paying fees, and adhering to other legal obligations.

Benefits Of Private Limited Company

• Free and easy to transfer shares.
• Tax Efficient.
• Separate Legal Entity.
• Easier To Raise Capital.
• Easier To Maintain.
• Professional Image.

Minimum Requirement Of Private Limited Company

1. A minimum number of two Directors.
2. One of the Directors of a Private Limited Company must be an Indian Citizen and an Indian Resident.
3. A minimum number of two Shareholders.
4. No Minimum Paid capital is Required.

Documents Required For Private Limited Company

• Pan card of all person
• Aadhar card of all person
• Photo of all person
• Electricity Bill for the current month
• Bank Statement for the current month

PROCESS

• Obtain a Digital Signature Certificate (DSC): The first step is to obtain a Digital Signature Certificate for all the proposed directors of the company. This certificate is necessary for filing electronic documents with the Registrar of Companies (ROC)
• Obtain Director Identification Number (DIN): Each proposed director must obtain a unique Director Identification Number by applying to the Ministry of Corporate Affairs (MCA).
• Name Reservation: Choose a unique name for the company and submit an application for name availability to the ROC. The name should comply with the naming guidelines provided by the MCA.
• Prepare Memorandum of Association (MOA) and Articles of Association (AOA): Draft the MOA and AOA, which define the company’s objectives, activities, and internal regulations. These documents need to be stamped and signed by the subscribers.
• File Incorporation Documents: Prepare the necessary incorporation documents, including the MOA, AOA, and other required forms. These documents need to be filed electronically with the ROC through the MCA portal, along with the prescribed fees.
• Payment of Stamp Duty: Pay the applicable stamp duty on the authorized share capital of the company. This can be done online or through designated bank branches.
• Verification and Approval: The ROC will examine the filed documents and may request additional information or clarifications. Once satisfied, the ROC will issue a Certificate of Incorporation, indicating the successful incorporation of the public company.
• PAN and TAN Application: Apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the company, if required, through the NSDL website.
• Post-Incorporation Compliance: After incorporation, the company must fulfill certain post-incorporation compliance requirements, such as issuing share certificates, holding the first board meeting, and appointing an auditor.

COMPLIANCES

• Annual General Meeting (AGM): Hold an AGM within six months from the end of the financial year and ensure compliance with the prescribed notice, agenda, and voting procedures.
• Financial Statements: Prepare and file financial statements including the balance sheet, profit and loss account, cash flow statement, and notes to accounts. These statements must be audited by a qualified auditor and filed with the Registrar of Companies (ROC) within 30 days of the AGM.
• Annual Return: Prepare and file an annual return containing prescribed information about the company, its shareholders, directors, and other relevant details. The annual return should be filed with the ROC within 60 days of the AGM.
• Board Meetings: Conduct regular board meetings at least four times a year, ensuring compliance with the Companies Act 2013. Maintain minutes of the board meetings and keep proper records.
• Statutory Registers and Records: Maintain various statutory registers, such as the Register of Members, Register of Directors, Register of Contracts, Register of Charges, and Register of Debenture Holders, and keep them updated. These registers should be available for inspection by shareholders, directors, and regulatory authorities.
• Auditing and Financial Compliance: Appoint a statutory auditor and get the financial statements audited annually. Comply with auditing and financial reporting requirements, including disclosure of related-party transactions and auditor qualifications.
• Secretarial Compliance: Ensure compliance with secretarial requirements such as filing of forms, resolutions, and disclosures with the ROC and the Ministry of Corporate Affairs (MCA) through the MCA portal. This includes filings related to changes in directors, share capital, charges, etc.

Obligation On Pvt Company

• Filing of annual returns
• The reports by the board of directors
• Approval and signing of financial statements
• Filing of disclosure of interest by directors
• Maintaining minutes of the proceedings of the board and general meetings
• The appointment of auditors
• Issue of share certificates and meeting of the board of directors

How Auriga Accounting Helps You — Why Auriga?

For those Individuals and companies who do not have any knowledge regarding Private Limited Company Registration, our company Representative team provides knowledge, gives relevant information, and explains the full process with proper guidelines, government rules, and regulations.

We tell you what benefits you will get by opening a Private Limited and, we tell you about all the compliance related to it. We start telling through messages. so that, when the last date or time comes, So, at the time of compliances, Client gets prepared about the company's compliances.

The best thing about us is that our clients also tell us, that we give equal time to everyone, we are very happy that our work is liked by our clients, who are sitting in different states, i.e., Andhra Pradesh, Arunachal Pradesh, Goa, Gujrat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, and many more states. They cannot come to us, We Cannot go to them, but we are just connected through phones or E-mail. If the client is satisfied with our work, then it is known that Auriga Accounting did a good job today.

For more details Call Now -

+91–7982044611/+91–8700032203

aurigaconsultancy1@gmail.com