What Is a Private Limited Company?
A private limited company is companies where the minimum number of members is two and the maximum number is two hundred has the limited liability of members & it has many characteristics as those of a partnership firm.
A private limited company having the advantage for their partner as namely flexibility, the greater capital combination of different and diversified abilities, etc. So The private limited company can be called as the partnership and widely owned public company.
A private limited company can be identified by name number of members, shares, formation, management, directors, and meetings, etc.,& the maximum number of directors shall have to be mentioned in the Articles of Association.
Company formation of a private limited company done with following steps mentioned below.
Step 1 : Name approval of the company:
The first step to incorporate a is private limited company apply to reserve/approve the name of the company. Where a name selected should do not contain any word which was prohibited under Companies Act, 2013. An approved name is only valid for 20 days from the date of approval, for a new company. First, apply for two proposed names and one Resubmission (RSUB) while Reserving Unique Names for companies through the RUN web service.
Step 2 : Digital Signature Certificate(DSC) & Director Identification Number(DIN):
The second step for private limited company incorporation is application is applied online and the mandatory to be signed by the director and shareholder of the company. So Digital Signature Certificate is required to be taken by those directors and shareholder of the company, who is required to sign the e-form for registration of the company. The mandatory documents are Photo, ID and Address proof is required to along with DSC application form for issuance of DSC.
A unique identification number is issued by Registrar of the companies (ROC) for becoming a director in India. An application must be filed along with ID and address proof duly attested by CS/CMA/CA.
Step 3 : Approval of other authorities:
The third and really very important step includes Registrar of Companies may require the applicant to furnish the approval or concurrence of any department, regulatory body, appropriate authority, or Ministry of the Central or State Government(s) in relation to the work to be done.
Step 4 : Document submission:
An Application for registration/incorporation of the private limited company is made to Registrar of Companies (ROC) along Memorandum and Article of Associations, declaration, affidavits etc.. Where for submitting the application minimum two directors are required for Incorporation of the private limited company.
Step 5 : Registration Certificate:
ROC is important for Certificate of Incorporation so documents should be ordered for issuing of certification & conclusive evidence of registration of the company so. After receiving the certificate of Incorporation the private limited company is can be started with a unique Identification of company.
Step 6 : PAN & TAN:
Permanent Account Number (PAN) & Tax Deduction Account Number (TAN) is allotted by the Income-tax Department to the company for unique Identification of company. These identification numbers made for the smooth operation of the company.
Step 7 : Opening of Bank Account:
The final step after an submission of Certificate of Incorporation & other essential documents, a bank open a current account in name of the company, which required for smooth running of the company.
Private Limited Company Registration Documents Required
- Address Proof of registered office.
If rented:It should contain all Scanned copy of following Documents:-
1) Lease deed/rent agreement;
2 Electricity bill;
3) No Objection Certificate (NOC) from the Property owner;
4) PAN Card & Aadhar card of a landlord.
- If self-owned:-Must be with a scanned copy of the following documents
1) property papers;
2) copy of any utility bill;
3) No Objection Certificate (NOC);
4) Sale Deed/Property Deed.
Documents are not older than 2 months.
In addition, the landlord of the registered office premises must provide a “No Objection Certificate” for holding the registered office in his/her premises and must submit his/her identity proof and address proof.