What Are The Legal Requirements For Starting A Private Limited Company In India

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp

Starting a private limited company in India requires compliance with various legal requirements. Some of the key steps involved in the process are:

  1. Obtain Director Identification Number (DIN): The first step is to obtain DIN for all the proposed directors of the company. DIN can be obtained by submitting an online application on the Ministry of Corporate Affairs (MCA) website along with the necessary documents.
  2. Obtain Digital Signature Certificate (DSC): A digital signature is required to sign the electronic documents filed with the MCA. A DSC can be obtained from one of the certifying authorities approved by the MCA.
  3. Name Reservation: The next step is to reserve a name for the company. A minimum of one and a maximum of six proposed names can be submitted through the RUN (Reserve Unique Name) web service on the MCA website. The name should be unique and not similar to any existing company name.
  4. Memorandum of Association (MOA) and Articles of Association (AOA): The MOA and AOA are the legal documents that define the constitution of the company, its objectives, and the rules governing its operations. These documents can be drafted and filed with the MCA in e-forms.
  5. Filing of incorporation documents: Various documents like MOA, AOA, identity proof, address proof, and PAN card of the proposed directors need to be filed with the MCA.
  6. Filing of Forms: After drafting the MOA and AOA, various forms need to be filed with the MCA, including the SPICe form (Simplified Proforma for Incorporating Company Electronically). This form includes details such as the name of the company, its registered office address, the number of directors, their details, and the paid-up capital.
  7. Payment of Fees: The required fees can be paid online through the MCA portal.
  8. Certificate of Incorporation: Once the MCA approves the application, a certificate of incorporation will be issued. The certificate of incorporation contains the Corporate Identification Number (CIN) and the date of incorporation.
  9. PAN and TAN Application: After obtaining the certificate of incorporation, the company can apply for a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) with the Income Tax Department.
  10. Opening of a bank account: The company needs to open a bank account in the name of the company.
  11. Compliance with legal and regulatory requirements: After incorporation, the company needs to comply with various legal and regulatory requirements like obtaining various registrations, licenses, and permits.
Also Read  What Are The Legal Requirements For Starting A Limited Liability Partnership (LLP) In India

These are the steps required to register a Private Limited Company in India. It is recommended to seek the advice of a legal professional to ensure compliance with all the necessary legal requirements.

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp

Never miss any important news. Subscribe to our newsletter.

Leave Your Comment

Recent News

Editor's Pick