How to Register a Company in India?

Overview

Whenever we hear about any high profile designation, like CEO, MD, FOUNDER or DIRECTOR, we find these designations very fascinating. But do you know that all these designations can also be added to your name, yes, for this you just have to incorporate a private limited company, which is the most popular method to make a strong start of any business. But do not know how to make a private limited company, do not know why we are there, come to us, we will get you the company ready as soon as possible. in today's blog we are going to give a lot of information about what are the requirements to form a private company. Which documents are required, What is the process of company incorporation How much will it cost and how much time will it take? 

before incorporating a private limited company, it is important to know some things such as 

• A company can have a minimum of 2 and a maximum of 200 shareholders, also known as members. 
• Minimum 2 and maximum 15 directors can be appointed although in 99% private companies the shareholders and directors are the same person 
• The company can be started with a capital of Rs 1 lakh and you can invest more capital i.e. there is no maximum limit. 
• Memorandum and Articles of Association are required 
• Company cannot issue shares to the general public 
• Apart from this, it is mandatory to get the books of the company audited. 
• Through annual filing, the financial records of the company must also be submitted to the ROC every year so these were the things to be applied for a company.

 

Now let us talk about the steps involved in the incorporation of the company, I will explain all these steps in detail. 

Step-1:

In the first step, the name of the company has to be approved, for which a government fee of Rs 1000 has to be paid. At least 2 names should be given while filing the application for name approval so that either one can be approved. The name of the company should be such that it does not match with the name of any existing company, only then there are chances of approval. Once the name is approved then it is valid for the next 20 days i.e. within 20 days the further process has to be started and if the process is not started in 20 days then the approved name will expire and you will have to approve the name again. Nowadays it is difficult to get the name of the company approved because while approving the name, it is also checked from the angle of trademark and domain. Everything is correct only then the name is approved. Otherwise name will reject Here step-1 is complete, 

Step 2:

Self attested documents are required for further process after name approval such as Any one of these documents is required for the identity proof of directors, PAN card, passport, ration card, Aadhaar card, voter ID card or driving license Latest bank statement or electricity bill of all the directors for address proof which is not more than 1 month old Rent agreement, electricity bill and NOC for the registered office of the company Private Limited Company is not Incorporated without Registered Office Address It is necessary to give the registered office address so that you can tell from where your company is working, what is the location of the company and where people will communicate with you, as well as a legal address to dispatch any document, courier or letter. After all the documents come 

Step 3:

begins In which digital signature certificate and DIN number of all the directors have to be taken. Digital Signature Certificate which is also called DSC in short. Technically digital signatures are soft copies of directors' signatures and DIN numbers, also known as directors' identification numbers. Like PAN card number in income tax is the identity of a tax payer, in the same way DIN number in Ministry of Corporate Affairs is the identity of directors. To incorporate the company, the forms which are filed with the Registrar of Companies have to be applied on them. 

Step 4:

In this, we will talk about company incorporation forms. For company registration, electronic forms have to be prepared and submitted and all these forms can be prepared by CA people like company secretaries. means a tax payer can't prepare by himself All forms cannot be filed without the signature of a professional person as per the requirement of the Companies Act 2013. Therefore, a person cannot file the forms on his own. The Ministry of Corporate Affairs has introduced a simplified form to register a private limited company. 

We will describe all these forms in short because all the forms are big and complicated.

1. First one form: is SPICe+ Part B also known as INC-32 In this form, it is mentioned that who will be the director in the company and who will have how many shares of the company, apart from this, the company's address, DIN application, directors' address and many other attachments are also included. We are explaining these forms in short because going into details will make the blog too big and the general public can not understand these forms. All these forms can be filed by professionals like us.
2. Second, the form: is AGILE - PRO form also known as INC-35 Through this form, the company's PAN, TAN and GST Registration, PF, ESIC Registration are applied along with the company's incorporation and also the facility to open the company's bank account is available.
3. The third form: is SPICe+ MOA i.e. Memorandum of Association, in which the objects of the company are mentioned, for which purposes the company is being incorporated And without these objects no company can do any work. If a company does it then its directors are responsible and it is called Ultra Virus Activity.
4. The 4th form: is spice + AOA i.e. Article of Association It contains the rules and regulations of the company, which the company follows while running the business and doing other activities, it is the internal document of the company.
5. The last form: is INC -9 In this form, there are declarations of the directors and shareholders of the company, which are necessary as per law.

All these 5 forms have to be uploaded on the site of the Ministry of Corporate Affairs after affixing digital signatures of all the members, directors and professional persons and at the time of uploading the registration fee of the company has to be paid. But how much does it cost approx, so let's talk about the fees, to register a private limited company, many different fees or charges have to be paid.

If we talk in short, the government fees of 7 to 8 thousand goes to incorporate a minimum capital company with 2 directors. Plus CA or any professional person's fee is also included, then a company becomes ready in ₹15000 to ₹17000 thousand. Government fees include digital signature certificate fees, DIN fees, stamp duty and company incorporation fees, and there are some expenses that do not have any receipt. This whole process takes 15 to 25 working days so this was bundle information that how to incorporate a private limited company and how much expense it take i hope you liked the blog made by ApkaTax.

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