In This Modern Era If One Wish To Be An Entrepreneur Then Private Limited Company Is The Best Option To Come Out With A Best Entrepreneurship. Where By There will be less compliance and cost with a lots of benefits. And The Formation of the Company At The very Nominal Cost.
Advantages of Private Limited Company
- Companies Act Removes Many Restrictions From Private Company’s.
- Liabilities of Shareholder extends to unpaid p capital.
- Many Tax benefits.
- Less Compliance Than Public Company.
- Company Has A Perpetual Succession.
- Company May Sue Or Sued On The Name Of The Company.
- Private Company Easily Arrange The Finance.
- Procedure Of The Dissolution Of The Company Is Easier Than The Public Company.
Formation Of The Private Limited Company
- As per Companies Act .
- Minimum Of Two Directors.
- No cap on paid up capital.
- First Acquire Name Through RUN( Reserve Unique Name ).
- Subscribe MOA And AOA.
- Form Filing.
- Applicant Can Apply for Gst Registration (Optional ).
- Getting Certification Of Incorporation.
- Also Get The Pan & Tan With Certificate Of Incorporation.
Compliance by Private Limited Company
- Hold First Board Meeting Within 30 Days of Incorporation And Minimum 4 Meeting Should Be Held In One Year
- Hold First Annual General Meeting Within 18 Months Of Incorporation And At least one meeting should be held in a year
- Maintain Books Of Accounts At Registered Office Of The Company
- Maintain Minutes Of The Meeting.
- File Annual Return within the 60 Days of Holding an AGM.
- Appointment Of Auditor Within 15 Days of Incorporation
- File Bank Statement Within 180 Days From The date of Incorporation
- Other Compliance Specified By Act.
Dissolution of the Private Limited Company
- Company May Apply For Remove The Name Of the Company From The Registrar Of The Company.
- Registrar May Remove The Name of The Company From The Registrar Of The Company.
- Winding Of The Company On The Order Of The NCLT (National Company Law Tribunal) .
- Company Can Not Wind Up Voluntary.
- Company May Merge or Amalgamated With Another Company After Disposing All The Assets And Liabilities.
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