Private Limited Company Registration in Pune

Thinking of registering a private limited company then the legal cabin is the perfect place to get expert advice and hassle-free registration at affordable charges. Before proceeding towards Private limited company registrations one should know the basics about the private limited company so here we go, For registering a Company in Pune a minimum of 2 Directors are to be appointed whereas a maximum of 15 directors can be appointed. To register a Private Limited Company in Pune no limit over the minimum paid-up capital is required and the name of the company should end with PVT.ltd.

A private limited company restricts the right to transfer the shares of its members. Compliances on a private limited company are statutory. A private limited company is a separate legal entity that has its own assets and liability different from its directors. Hence even if the company gets insolvent the directors of the company have only the liability to the extent of shares held and no personal belonging of Directors can be touched to pay the dues. Legalcabin can help you to register your Private Limited Company Registration in Pune.

Why choose a Private Limited Company?
Private Limited is the most prevalent form of business registration, provided that benefits like limited liability, long-lasting succession, easy transfer-ability, dual relationship, easy funding, brand building, trust-building, good employees, professional circumstance, Ease to do business with multinational and international companies, etc.

Why not choose a Private Limited Company?
Private Limited has to annually comply with certain ROC necessities like doing Board meetings, Annual General Meetings, ROC filings, Maintaining Minutes of Meetings and Statutory register, etc. This increases the cost as well as efforts. Proprietorship or Partnership Firm does not have to sustain the above compliance’s. Private Limited has a little bit more compliance’s than LLP too.

However, registering a company name under a private limited company you needed a Key name, Activity name, and Suffix which is Pvt Ltd. A company name henceforth has to be mandatory be in 3 parts e.g. HCL (key name) Technologies (activity name) PVT LTD (Suffix) or LLP (Suffix) or Ltd (Suffix). After registering a private limited company once you get the Certificate of Incorporation then you can be applying for the corporate bank account and GSTIN. The Private limited company is a distinct legal entity means the liability of the directors is limited to their investment only. For example, a private limited company has taken a loan from any bank but unfortunately, fails to pay it back due to losses or any other unexpected reasons, the directors are not directly held responsible for the defaulter because the company has its own separate legal entity.

A private limited company can only run with the mutual consent of the directors. In a private limited company, the minimum capital essential be 1 lakh rupees and an annual audit is compulsory, there is no compulsion for these terms. This is the most standard form of company registration in India. Pvt Ltd Company has higher compliance’s as compared to LLP and OPC.

How to register a Private Limited Company in Pune?

Submission of Documents:

The identity documents of the 2 proposed Directors are to submit which includes:

PAN Card or Passport.

Address Proof: Passport/ Driver License/ Election ID/ Ration Card/ Aadhar Card.

Residence Proof: Bank Statement/ Electricity Bill/Phone Bill.

Name Approval process:
The name of the company should be unique and an application is to be made for approval from the Ministry of Corporate Affairs. Up to 2 names can be provided. In case of rejection, an opportunity is given to the applicant for re-submission of the form with 2 more names.

Obtaining the Digital Signature Certificate:
It is necessary to obtain the Digital Signatures of the proposed directors. The DSC is required for signing the incorporation application. However, the DSC is not required to obtain the name approval.

SPIC e+ Form Application:
After obtaining the Digital Signature Certificate the incorporation application is submitted in the SPICe form with the MCA. There is no requirement to obtain the name approval to submit the SPICe Form.

Incorporation of the Company:
The Company Incorporated and an Incorporation certificate along with the PAN, TAN can be obtained within 2-3 business days.

Current Bank account:
IndiaFilings will help you in opening a zero balance current bank account digitally through our platform.

What are the Compliances for a Company registered in Pune?

Statutory Auditor Appointment: The Board of Directors has to appoint a Practising Chartered Accountant within 30 days of Incorporation to carry on the Statutory audit.

Commencement of Business: The Capital that is mentioned in the MOA is to be deposited in the bank and the certificate of commencement has to be obtained from the MCA.

Income Tax filing: The Companies that are registered in Pune have to file the income tax return each year in Form ITR 6.

Annual return: The Companies that are registered in Pune need to file the MCA annual return mandatorily each year in Form AOC 4 and MGT 7.

DIN KYC: The DIN KYC procedure must be completed each year for the proposed directors of the Company.