Private Limited Company

Private Limited Company Registration:

As per the Partnership Act 1932, it is not compulsory to register a partnership firm. The firm does not have a separate legal identity and registration will not alter this fact. However, registration is the definite proof of the existence of the firm and its legality.

Advantages of Private Limited Company

No Minimum Capital. No minimum capital is required to form a Private Limited Company.
Separate Legal Entity.
Limited Liability.
Fund Raising.
Free & Easy transfer of shares.
Uninterrupted existence.
FDI Allowed.
Builds Credibility.

Eligibility:

To register a private limited company, a minimum of two people are required to act as directors and shareholders. The directors must be natural persons, while the shareholders can be natural persons or corporate entities. In addition, a registered office address in India is also required for company registration.

Is audit compulsory for Pvt Ltd?

Yes, it is compulsory for every company that is registered under the Companies Act, Private Limited Company or a Public Limited Company. Every company must get it audited every year. ... This is done within 30 days of the registration of the company.

Turnover Limit:

Rs.20 lakhs for service provider sand Rs.40 lakhs for good suppliers, exception special category states.

Documents Required:

Proprietor / Partner / Director: PAN, Aadhar & Photo
Proof of Business Address: Electricity Bill, NOC & Rent Agreement
If Pvt. Ltd. / LLP / Firm: COI & MoA/ AoA & PAN