A Private Limited Company is the most recommended and preferred form of business for new as well as existing entrepreneurs. It is governed by the provisions of Companies Act, 2013 and preferred by VCs and PE players for funding purpose. A Private Limited Company enjoys the privilege of a legal individual corporate entity like perpetual succession, own properties on its own name, capacity to sue and be sued, etc.
Who can Form?
2 or more major Individuals.
NO MINIMUM CAPITAL REQUIRED
|Passport size photographs|
|ID Proof : Adhar Card / Driving License / Voter ID Card / Passport|
|Address Proof : Bank Statement / Electricity Bill/ Telephone Bill|
|Electricity Bill of the proposed Registered Office.|
|Rent Deed/ Lease Deed / NOC of Owner of the Registered Office premises.|
Pancard and ID proofs are to be submitted with Bankers attestation as well as a self attested.
|Capacity to sue|
|Flexibility and autonomy|
|Preferred by Investors for findings|
|Preferred by banks for loan considerations.|
|Can have up to 200 members.|
|8 -15 Days.|
( All inclusive )
Additional Amount payable for the states of Punjab, Madhya Pradesh and Kerala.
What All it includes:
|Preparations of MOA/ AOA and other documents.|
|Govt Fee and Stamp Duty|
|Certificate of Incorporation|
How it works?
Caparison between Partnership, LLP & Company
|Partnership is governed by ‘The Indian Partnership Act, 1932’ and various Rules made there under.||Limited Liability Partnership are governed by ‘The Limited Liability Partnership Act, 2008’ and various Rules made there under.||Companies are governed by ‘Companies Act, 2013’.|
Registration of Business
|Registration with Registrar of Firms is optional.||Registration with Registrar of LLPs required.||Registration with Registrar of Companies required.|
|Funding||Cannot raise capital from VCs and PE firms.||Cannot raise capital from VCs and PE firms.||Can raise capital from VCs and PE firms. Further the Public Limited companies can also raise funds from people.|
|It does not have perpetual succession as this depends upon the will of partners.||It has perpetual succession and partners may come and go.||It has perpetual succession and members may come. and go|
Number of Members
|Minimum 2 and Maximum 20.||Minimum 2 partners and there is no limitation of maximum number of partners.||2 to 200 members in case of Private Company and Minimum 7 members in case of Public Company.|
Liability of Partners/Members
|Unlimited. Partners are severally and jointly liable for actions of other partners and the firm and liability extend to their personal assets.||Limited, to the extent their contribution towards LLP, except in case of intentional fraud or wrongful act of omission or commission by the partner.||Generally limited to the amount required to be paid up on each share.|
|Income of Partnership is taxed at a Flat rate of 30% plus education cess as applicable.||Income of LLP is taxed at a Flat rate of 30% plus education cess as applicable.||Income of Company is Taxed at a Flat rate of 30% Plus surcharge as applicable.|
|By agreement, mutual consent, insolvency, certain contingencies, and by court order.||Voluntary or by order of National Company Law Tribunal.||Voluntary or by order of National Company Law Tribunal|
Want to start a Private Limited Company ? Thinking about how to register a Private Limited Company online ?
TaxSkill.com offers online Private Limited Company Registration at most affordable price. Let us first understand what is a Private Limited Company form of business before you start with online Private Limited Company Registration. A Private Limited Company is the most popular form of Business in India. A private Limited Company is usually a Closely held and Privately funded Company. A Private Limited Company is the most suited form of business for family run ventures, Start - Ups , Consultants, Traders, Information Technology Venture, Software Venture, Export Import Venture and Businesses looking of Angel Investment , Private Equity Investment, Foreign Investment or Venture Capital Investment infusion. Regulations relating to Private Limited Companies in India are governed by Companies Act, 2013. A Private Limited Company is a Corporate entity separate from its members and management with a perpetual succession. The members have liability is restricted to the unpaid share capital, if any, for the shares subscribed by them. The Business activities and Internal functioning of the Company is run in accordance with the Memorandum of Association (MoA) and Articles of Association (AoA) of the Company. A certificate of Incorporation is granted by the Registrar of Companies on registration with a unique Corporate Identity Number (CIN).
TaxSkill.com offers online Private Limited Company Registration at cheapest price and also on EMI option.