How to register a Private limited Company Online in Delhi?

by EzyBiz India Tax & Accounting Consulting Firm

Many options are available for businessmen for businesses setup in India like Proprietorship, Partnership, LLPs, Private Limited Company, and Public Limited Company.

Out of the above, Private Limited Company Registration is the most popular and widely used mode of entity registration.

What are the advantages of Private Limited Company Registration?

1. It is a separate legal entity, unlike a proprietorship or partnership business.

2. The liability of shareholders are limited, whereas, in the case of proprietorship and partnership, the liabilities of owners/partners are unlimited.

3. Suitable for startup registration.

4. It has a brand and reputation.

5. It can easily accept funding from angel investors, venture

capitalists, and private equity investors.

6. Since it is subject to audits, it has more authenticity in the

eyes of outside users like banks and financial institutions.

7. Very easy to add or remove directors and shareholders in a legal manner.

Procedure for Company Registration in Delhi

1. There should be a minimum of 2 shareholders and two directors, out of which at least one director shall be an Indian citizen and Indian Resident.

2. There should be local address proof for showing the registered

address of the company.

3. There is no limit on minimum capital required for private

limited company registration.

4. First of all, the Digital signature certificate of all the

directors needs to be prepared.

5. The company's name needs to be approved by ROC by providing 2-3 proposed names of the company.

6. Once the name is approved, charter documents need to be

prepared, i.e., Memorandum of Association and Article of

Association.

7. Director Identification number needs to be applied.

8. Other registrations need to be applied like PAN, TAN, ESI, PF.

9. Name of the proposed banker with whom the company's accounted to be opened needs to be provided.

10. Finally, the company will be registered, and a Certificate of

Incorporation will be issued containing the CIN, PAN, TAN of

the company.

It will complete the procedure of Company registration in Delhi.

Documents required for Company Registration:

The applicant must provide or submit the following documents for company registration in Delhi:

1. PAN Card copies of all the directors of the company.

2. Identity proof of the directors such as Voter ID/ AADHAAR Card etc.

3. Address proof of the directors.

4. Passport size photographs of all the directors.

5. Rent agreement (if any) of the place of business.

6. Electricity bill/water bill/ telephone bill of the place of business.

7. No Objection Certificate (NOC) from the landlord (in case of rented property).

8. Memorandum of Association (MOA).

9. Articles of Association (AOA). 10.Identity proof of subscribers.

10. Address proof of subscribers.

11. Declaration made by all the directors and first subscribers.

12. Affidavit by directors and first subscribers.

Other Things to be kept in mind after company registration

Once a company is registered, the following other compliance needs to be done by every company:

1. GST registration need to be taken for providing services or selling goods.

2. Within 30 days of company incorporation, a board meeting needs to be held, and the first auditors of the company need to be appointed.

3. Within 180 days of company incorporation, a business commencement certificate needs to be applied with ROC/MCA.

4. Periodical compliances need to be filed monthly GST returns, Filing quarterly TDS returns, preparing BS, PL, conducting statutory audits, conducting tax audits, filing income tax returns, and secretarial compliance before ROC Filing of ROC returns.

It may be noted that all the compliance above need to be done by every company irrespective of their turnover or sales. Therefore, if any company has fewer sales or no sales, even then, they have to do all the compliance above before the due date. Failure to do so will result in heavy penalties and interest. Wholly Owned Subsidiary Company

Therefore, compliance cost in the case of a private limited company is more. However, since it has many advantages, as mentioned above, along with brand and reputation, more and more businessmen, especially, young generation, chose the private limited company as their preferred mode of business entity.