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Today, thriving India is one among the most suitable,
profitable, and preferred destinations in the whole world for
business establishment in diverse economic sectors.
Therefore, ours globally admired full-service law firm of
India, is offering highly beneficial and precious information
about how to establish a company in India, and other tasks
for establishment of the company , in any targeted part of
the country, by Indian and foreign people and entities. The
Ministry of Corporate Affairs (MCA), the Government of
India, is the supreme governmental body for registration
and regulation of all sorts of companies in entire India. And,
pivotal and the most magnificent company law in India is theCompanies Act of 1956. For supervising, registering, and
regulating companies and all business activities of these, a
Registrar of Companies (ROC) who works under MCA, is
properly appointed in every major State of India under the
Section 609 of this supreme company law of India.
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Wise selection of the most appropriate form of a company is the very first step
for starting a business or profession in any desired field of occupation and
economy. Today, the most prominent, popular, and highly preferred
categories of companies in all across India are:
Private limited companies
Public limited companies
limited liability partnerships
unlimited companies
The first two forms of companies are undoubtedly the most famous in India
and abroad. Here, we are exclusively offering detailed information about the
formation and registration of the Private and Public limited companies in
India, for doing business in any fields of the broad sectors of business and
commerce, professions, industries, and services. The registration process of
an unlimited company is almost the same as that of the limited companies.
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To form a Private limited company, at least two members or Director are
required,. And, the minimum paid-up capital required is INR-1 Lakh, at the
time of incorporation of the company. On the other hand, to form a Public
limited company, requirement is seven shareholders at the minimum, and
three directors; the minimum paid-up capital is INR-5Lakhs at the time of
company incorporation. The maximum number of members allowed to a form
a Private limited company is 50; there being no upper limited to the maximum
number of shareholders to a public limited company in India.
Before filing the application for company registration, availability of
of the proposed company names is ensured. For this purpose, useful
link is available on MCA website where we can check the availability
of the name of proposed company , but the sole authority for
Approval of the name is the discretionary power of ROC
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For Acquiring a DIN, a person has to make an application through
the Form DIN-1. The following information and documents are
required for DIN:
Completed DIN-1 Application Form
Identity Proof (any one of PAN Card & Passport for NRI)
Residence/Address Proof (any one of the document Passport,
Election Card or Voter ID Card, Driving License with PIN Code,
Telephone Bill, Electricity Bill, Ration Card, Bank Statement certified
by the Bank Manager)
One Passport Size Color Photograph
Educational Qualifications
Current Occupation
Email Address of the Applicant
Mobile/Cell Number
An Affidavit ( DIN verification affidavit), notarized on Rs-10/- Stamp
Paper, and signed by the Applicant
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The digital signature certificate can be acquired from any Licensed Certifying
Authority (CA), as per the Section 24 of the Indian Information Technology
Act, 2000. The extensive list of all licensed certifying Authorities, together
with their individual contact address is obtainable from the portal
www.mca.gov.in/-. After obtaining the DSC, a signatory is required to
register his/her digital signature with MCA. For these purposes, demanded
are a completed DSC Application Form, and above-mentioned documents.
For obtaining the name for your proposed company the Form-1A is utilized,and sent to the ROC of the State, where the company is planned to be located.
At least four and a maximum of six proposed names are permitted, in order of
preference/priority. The availability or non-availability of any of the selected
names is declared generally in a week. After ensuring the availability of any
name, the concerned applicant is given a maximum of six months time, for
filing application of company registration, along with MOA and AOA, and other
documents and information. For a private limited company, the proposed
names must end with the wording Private Ltd., and this wording for a public
limited company is Limited.
http://www.mca.gov.in/http://www.mca.gov.in/http://www.mca.gov.in/ -
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The procedures for registration of both the private limited companies and the public
limited companies are also the same. For this purpose, the following forms are to be
completed and submitted the ROC of the concerned State of India: ---
Form-1: --- Application or Declaration for incorporation of a company, along with
the MOA and AOA of the company
Form-18: --- Information regarding the location of the company. Attached with it
will be the address proof, rental agreement, etc.
Form-32: --- Information regarding the appointment of the directors, and their
personal details.
A Declaration/Affidavit from the subscribers/the first directors of the company, at
the time of incorporation, as per the General Circular No.- 11/2013, dated
29.05.2013
Payment of ROC Fees and Stamp Duty
Form-29: --- This additional form is to be submitted in case of a public limited
company. This contains information about the consent of all three directors for
acting as the designated director of the company.
After examination of all above-listed forms, the Registrar of Companies of the
concerned State issues a digitally signed certificate of company incorporation to the
directors of the company. After approval of the proposed company name, about one
month is taken by all processes of company registration. Again, after getting the
certificate of company incorporation, a public company also needs to acquire the
certificate of commencement of business, before starting its business operations and
activities.
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The Permanent Account Number (PAN) is essential for making payment of tax
in accordance with the Indian Income Tax Act of 1961. Whereas, the Tax
Account Number (TAN) is recommended when a company is required to
deduct or collect taxes at source, as per the Section 203A of the Indian Income
Tax Act, 1961. All companies and firms which are required to make financial
transactions in forms of salaries to employees, consultancy fees, contractual
payments, taxable project fiancs, and so on, essentially need TAN
registration. Thus, for issuing TCS/TDS certificates, filing TDS/TCS returns,
and making TCS/TDS payment Challan by a company, this TAN is
indispensable. The Income Tax Department of India has now recommended
quarterly submission of TDS and TCS Statements by the concerned business
or professional entities.
These PAN and TAN registrations are well-facilitated and responsibly
regulated by the National Securities Depository Limited (NSDL) of India. TheApplication Forms for PAN and TAN registrations are Form-49A and Form-
49B, respectively; which are to be submitted to any TIN Facilitation Centers.
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