What is a Private Limited Company?

A Private Limited Company is the one that is a type of Business Entity in Private Ownership, which is used in many jurisdictions in contrast to public ownership. There may be some difference from Country to Country.

What is the process of Company Incorporation in SPICe?

Simplified Proforma for Incorporating Company electronically or SPICe is a fast track registration procedure initiated by Ministry of Corporate Affairs or MCA, that enables a single form application process for company registration. The general registration process can take up to 30 days, but if SPICe is followed the whole process can be completed within 7 days. Tax Experts at All India ITR focus at rendering premium services and delivering it in a quick manner. The incorporation services shall be delivered following the SPICe process.

Is the physical presence required, while the process happens?

No, you are not required to be present physically, while this process is going on.

Is Stamp Duty necessary for Incorporation process?

Yes, Stamp duty charges are imposed by the state in which the registered office is proposed to be located. The charges are on MOA, AOA & form INC 32. Our Tax Experts will guide you about the extra charges, if any.

How can I become eligible to get benefits under the Startup India Initiative?

Only the below stated entities qualify as a “Startup” for the purpose of Government schemes Private Limited Company Registered Partnership Firm Limited Liability Partnership Further conditions are: Not more than 5 years have passed from the date of its incorporation/ registration Turnover for any of the financial years has not exceeded INR 25 crore It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property Our experts shall guide you on how you can get registered under the Startup India Initiative and avail the benefits.

I need to raise capital from external sources. I am considering approaching Investors. Do i get any advantage on getting registered as a private limited company over other forms?

1)The capital structure of a private limited company can easily accommodate equity funding. So Venture Capitalists prefer pvt. Ltd. over any other structure.

2)Being a regulations compliant entity, it becomes easy to attract capital infusion from financial institutions like banks, NBFCs etc.

How much time is needed to set up a private limited company?

The registration process gets completed when you get a certificate of incorporation(COI) issued by the registrar. The application can processed within 7 working days.

What is the government fee applicable for a Plc incorporation?

Below are the charges applicable for DIN and other government forms:

• DIN (2 Nos): Rs.1000
• RUN Form: Rs.1000
• AoA: Rs.1000 (up to Rs.10 lakh of authorized capital)
• MoA: Rs.1000

Can an NRI also become a director in company? And what additional documents will be required to be submitted?

Yes, an NRI or any foriegn national can become a director in a private limited company. But such person can be taken as a director only when there is one director who is a Resident of India. Additional documents required:

• Copy of Passport Copy Which is attested by Consulate of Indian Embassy or Foreign Public Notary.
• Copy of Driving License/ Bank Statement or Electricity Bills copy or Any Property Tax Payment Receipt which is attested by Consulate of Indian Embassy or Foreign Public Notary.

RBI approval is required for foreign capital contribution. Additional charges will be applicable for RBI approval. Our experts will advise you on the applicable charges.