Private Company

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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Author: Taxwix

Taxwix – Making Your Idea Happen Taxwix.com has a team of experts like, CA, CS and Lawyers etc having the great dominance in field of the Corporate Compliance along with Advisory,Taxation and Finance. Taxwix team guides the Startups with their Idea and help help them to take ahead in the Legal Manner, helps in proper managing the business with accurate and timely Compliance. Taxwix has as simple 5 Step process to be followed to complete compliance

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