Many people who are willing to set up a business register a company in online are curious yet think, register a company in online tedious and confusing process. One has to understand basically the types of Company structures in India to abide by with the right business compliances, which have to be met for each structure. In fact, your Income-tax will depend on the Company structure you have chosen with. Therefore it is very important to carefully choose the right business structure before incorporating the company.
However, private limited companies are the most common and highly recommended way to start a business in India.
Private Limited Company will be seen as a separate entity/individual under the eyes of the law. Here is some of the
Quick lists characterize the Private Company:
- A Private Limited Company should have a minimum of 2 members and a maximum of 200.
- The number of directors in the private company should be a minimum 2 to maximum 15.
- A private company should have a capital contribution of 1 lac and there is no minimum capital amount.
- In a private company, shareholders have limited liabilities and are liable only to extent of their share capital.
- A Private company should have a unique name and the name should end with an affix (Pvt. Ltd.)
- A private company should have registered office space.
Steps to Register a Company in Online
A Company that comes into existence is generally by a process referred to as incorporation. Once a company has been legally incorporated, it becomes a separate entity from those who invest their capital and labor to run the company. Incorporating a company involves with complying the rules provided by Company Act 2013. However, incorporating a company requires plenty of effort; the advantages are far worth it.
Steps involved in register a company in online:
Step 1: Obtaining the Digital Signature Form (DSC)
Acquire DSC for the proposed director(s) and shareholder(s) of the company. Many certified authorities like (NIC, Emudra, IDRBT, CDAC, etc has been granted a license to issue a digital signature certificate under sec (24) of the Indian Information Technology Act 2000. This DSC is issued with one-year validity and two-year validity.
Step 2: Acquiring Director Identification Number (DIN)
All the existing and intending directors of the company have to get DIN within the prescribed time. The applicant is required to attach the identity and address proof along with the application.
Step 3: Registering on the MCA portal
Users are required to register on the MCA (Ministry of Corporate affairs) portal and get login credentials to successfully upload any Eforms. Any proposed first director of a new company has to acquire the DIN number via application through the SPICe form by register a company in online on the MCA portal. The mandatory submissions of electronic MOA and AOA linked forms shall be uploaded on Spice+ to register a private limited company.
Step 4: Apply for PAN and TAN:
By submitting the DIS-based application, a company can obtain Pan and Tan within a day, thereby ensuring ease of doing business.
Step 5: Certificate of Incorporation:
Once the required application and documents have been submitted and upon the verification of forms, the Certificate of Incorporation (Col) is issued. An electronic mail with Certificate of Incorporation (Col) as an attachment along with PAN and TAN is sent to the user.
Proof and Documents required for register a company in online:
- Copy of voter ID/passport/driving license.
- Copy of Utility bills (latest bank statement/telephone or mobile bill/electricity or gas bill)
- Passport-sized photograph specimen signature (blank document with signature [directors only])
- NOC for use premises for the registered office of proposed Company from owner and person whose name is mentioned in the utility bill.
- Electronic versions of MoA/AoA
- Scanned copy of no-objection certificate from the property owner
- Scanned copy of sale deed/property deed in English (in case of owned property)
Why you should register a Company?
- Defends against other threats and losses.
- Builds goodwill and customer attraction to business
- Gives reliable investors, bank credits, and good investment with ease.
- Provides cover of the responsibility to protect the company’s assets
- Helps to generate Capital
- Increases the ability to develop and grow large
- Easy transferability of shares
- Ensures Limited liability protection.