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How to register a private Ltd company?

Looking forward to entrepreneurship? The beginning of a private limited company may seem to be an exciting task, but it involves lots of complications to get it registered. Even though proper information and knowledge, registering a Pvt ltd company in India can be a lot easy. As there are lots of advantages of Pvt ltd company, there are many people who are looking to commence their business through this type of organization. While you look for ‘pvt ltd company near me for assistance, In this article, we will be discussing the private limited company details and the ways of Pvt ltd company registration.

What is a private limited company?

An India private limited company is a business that is held by private stakeholders. Generally, there are two types of a private limited company, and they are as follows,

(i) A private limited company, i.e limited by share In these companies, the liability of the members is limited to the unpaid amount on shares that are held by them

(ii) A private limited company by guarantee In this type of private limited company, the liability of the members is limited to the amount that they have agreed to undertake during the time of winding up

Registration procedure of a Private Limited Company

Digital signature-As the Pvt ltd company registration process is conducted online, therefore digital signature plays an important role in it. It is mandatory to obtain the digital signature of every witness and subscriber in the Articles of the Association and the Memorandum. It is important that the digital signature is recognized by government-certified agencies. The cost of a digital signature depends a lot on the agency that you choose for the work.

Apply for the director’s Identification Number (DIN)- Director’s identification number or DIN is needed to be obtained by the director of the company. By having DIN an individual can be designated as a director in any number of companies.

Name approval-
For Pvt ltd company name approval, there are 2 options,
To apply for your desired name of the company, you can fill in INC-32 (incorporation company). Through this procedure, you can only choose a single name for this form. In this method, you need to be sure that the Pvt ltd company name suggestions are unique, and also follow the guidelines related to name availability and existing trademarks to eliminate the chances of rejection.
For Pvt ltd company name approval, you can also choose to fill in form INC-1 in which you get an option of 6 names as a proposal. Further, you can input the SRN of the accepted INC-1 into INC-32. If you ask for recommendations, it is always better to fill in form INC-32 as it is less time-consuming than the other process.

Form INC-32-
The form INC-32 is a new introduction by the ministry of company affairs. It is a simplified procedure of incorporating a company digitally. We are capable of serving the following purposes,
(a) Application for DIN allotment
(b) Reservation of the organization name
(c) Establishment of a new company.

INC-33 & INC-34 -
Inc-33 refers to the digital memorandum of association. Whereas INC-34 is a digital article of association. These forms have been introduced to ease the process of private limited company registration in India. Memorandum denotes the charter of the company, whereas article of association includes the internal regulations and the rules of the company. Earlier articles of the association and the memorandum of association were physically required. In recent times these forms can be filled digitally on the MCA portal as it is linked with the Form INC- 32.

TAN and PAN application -
To get the TAN & PAN for your company, there is a need to apply through a single form INC-32. It is done through form 49A for PAN and 49B for the TAN. All you need to do is download the form and attach the digital signature and upload the forms on the MCA portal.
Once the form is filled with all its requirements, the MCA approves the registration procedure, and a corporate identity Number is allocated for the company. The CIN number can also be tracked online on the MCA portal.