Online Company Registration in India - An Overview
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One of the most highly recommended methods for starting a business in India is to establish a private limited company, which provides its shareholders with limited liability while imposing certain ownership restrictions. When it is LLP, the partners will manage it. On the other hand, a private limited company registration allows for directors and shareholders to be separate entities.
As your dependable legal advisor, Vakilsearch offers a cost-efficient service for registering your company in India. We handle all legal procedures and ensure compliance with the regulations set forth by the Ministry of Corporate Affairs (MCA). Upon successful completion of the pvt Ltd company registration process, we provide you with an Incorporation certificate (CoI), as well as PAN and TAN documents. With these in hand, you can easily establish a current bank account and commence your business operations
Documents Required for Online Company Registration
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The MCA requires proper identity and address proof for private limited company registration in India. The following documents are the requirements for registering a company in India:
Identity and Address Proof
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Scanned copy of PAN card or passport (foreign nationals & NRIs)
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Scanned copy of voter ID/passport/driving license
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Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
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Scanned passport-sized photograph specimen signature (blank document with signature [directors only)
Registered Office Proof
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Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
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Scanned copy of notarised rental agreement in English
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Scanned copy of no-objection certificate from the property owner
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Scanned copy of sale deed/property deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence too.
Steps For Company Registration Process in India
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Step 1: Collecting Initial Documents
Gather the necessary documents and get them verified for the incorporation process.
Step 2: DSC and Name Approval
Apply for Digital Signature Certificate (DSC) and seek approval for your company name from MCA.
Step 3: Collecting Additional Documents
Acquire the second set of required documents and ensure their verification.
Step 4: Drafting MOA and AOA
Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) for your company.
Step 5: Final Form Upload
Upload the completed documents and forms for the final stage of company incorporation.
Benefits of Pvt Ltd Company Registration
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There are numerous advantages to registering a company. By doing so, you enhance the credibility of your business, which can lead to increased consumer trust. Additionally, company registration online can provide various benefits that can help your business to grow and succeed.
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Shield from personal liability and protects from other risks and losses
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Attract more customers
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Procure bank credits and good investment from reliable investors with ease
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Offers liability protection to protect your company’s assets
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Greater capital contribution and greater stability
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Increases the potential to grow big and expand
Private Limited Company Registration Compliances
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After the process of company registration in India, it is necessary to adhere to various compliance regulations in order to avoid potential fines and legal repercussions. Some of the key post-registration requirements include:
Auditor Appointment: Within 30 days of company incorporation, every Indian company must appoint a practising, certified, and registered Chartered Accountant(CA).
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Director DIN KYC: Every year, individuals who possess a Director Identification Number (DIN) should undergo a DIN KYC process. During the company incorporation process, the company can get the DIN. This helps to verify the phone number and email address on file with the MCA.
Commencement of Business: The shareholders of the company must deposit the subscription amount specified in the MOA within 180 days of incorporation, and the company must create a bank current account. Therefore, to receive a business incorporation certificate, the shareholders of a company established with a paid-up capital of ₹1 lakh must deposit ₹1 lakh into the company's bank account. They should also file a copy of the bank statement with the MCA.
MCA Annual Filings: Every financial year, the MCA must get a copy of the financial statements from each company registered in India. A corporation that incorporates between January and March may elect to include the first MCA annual return in the annual filing for the following fiscal year. Forms MGT-7 and AOC-4 are the components of the MCA yearly return. The Directors and a working professional must digitally sign both of these documents.
Income Tax Filing: Every financial year, businesses should file an income tax return using form ITR-6. The business should file the income tax before the deadline for each financial year, irrespective of the date of incorporation. The company's income tax return must be digitally signed using the director's digital signature.
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