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Private Limited company

Private limited companies are popular among startups and small to medium-sized enterprises as they provide a balance of limited liability and operational flexibility.

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key characteristics of a private limited company in India:

Limited Liability Protection

Shareholders of a private limited company are liable only to the extent of their shareholding. Their assets remain safeguarded, even in cases of financial setbacks incurred by the company.

Separate Legal Entity

A private company possesses its own distinct legal identity. It can own property, engage in contracts, and initiate or defend legal actions under its unique name.

Minimum Number of Shareholders

A private company must have a minimum of two shareholders and cannot exceed 200 shareholders.

Minimum Number of Directors

A private limited company necessitates a minimum of two directors. At least one of these directors must be an Indian citizen.

Minimum Share Capital

There is minimum capital?

Name of the Firm

The private limited company’s name must conclude with the words “Private Limited.”

Prohibition on Public Invitation

Private limited companies are prohibited from inviting the public to subscribe to their shares or debentures.

Compliance Requirements

Private limited companies are obligated to adhere to various legal and regulatory obligations, including maintaining proper financial records, conducting annual general meetings, and filing annual returns with the ROC.

Private Limited company Particular

Number of partners/directors

Minimum 2 directors
Maximum 15 directors.

Number of members

Minimum of 2 members.
Maximum number can be 200.

Act Applicable

Companies Act, 2013

Governing document

Memorandum of Association (MOA) and Article of Association (AOA).
The MOA and AOA are public documents.
Any person can obtain them by paying prescribed fees to the MCA.

Fee for incorporation

Government fee for incorporation is high

Capital

Minimum paid up capital Rs 1,00,000

Ownership and management

Shareholders are owners.The board of directors manage the business.
The issuance of shares to new members may alter the distribution of ownership and control.

Funding

VCs or angel investors prefer to invest in companies for shares.

Board meetings

Minimum 4 board meetings in a year Annual general meeting within 6 months of the end of the financial year.

Tax rate

Annual revenue less than Rs.400 crores – 25%.
Annual revenue exceeds Rs.400 crores – 30%
Companies satisfying certain conditions has option to choose new rates of 22% (for existing companies) and 15% (for new companies)

Audits

Mandatory statutory audit signed by Chartered Accountant.

Compliances

AOC 4 and MGT 7 for Pvt Ltd. Registrar of Companies (RoC) every year

Documents Requirements

Director’s Documents

1. Director’s PAN
2. Director’s ID Proofs
3. Aadhaar Card or Voter ID or Passport or Driver’s License.
4. Address Proofs: Latest one month Savings Bank statement or Latest Telephone Bill on his own name or Latest Mobile Bill on his name or Latest Electricity Bill on his own name.
5. Director’s latest passport size photograph
6. Director’s Email ids
7. In Case of Foreign directors, International Passport is mandatory

Company Documents

1. Registered Office Address Proof: Latest Power Bill
2. No-objection letter from the Landlord.
3. Rental Agreement from the landlord if the premises are rented.
4. Company email id.

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Our Happy Customers

Taxpaper made starting our company, Legentry Sports Private Limited, really easy. Their guidance was super helpful, and they handled everything smoothly. Great service, highly recommend!

Gopu MohanMD, Legendary Sports Private Limited

Taxpaper gave amazing support to Virgin Papers for starting a Private Limited company and getting Trademark registration. They made everything easy and smooth. Great job and thank you

Rithwik ShineMD, Virgin Paper Products

Helcon got great help with starting a Private Limited company and registering a Trademark. The team handled everything with utmost care and professionalism, making the experience truly impressive. We really appreciated their service and hope they keep up the good work!

RashidChariman, Helcon

Fortune Exports is grateful for the exceptional assistance provided by Gopakumar and the Taxpaper team for Private Limited incorporation and Trademark registration. Their expertise and dedication made the process smooth and stress-free. We truly value their outstanding service and look forward to working with them again in the future

Vigil VincentMD,Fortune exports

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