Registering a private limited company in Pune can seem daunting, but it doesn’t have to be. With the right guidance, you can seamlessly set up your business entity and be ready for operations in no time.
Why Register a Private Limited Company?
A private limited company structure offers several advantages over other business structures like sole proprietorship or partnership firms. Here are some key benefits:
Limited Liability:
Shareholders’ liability is limited to their investment in the company. Their personal assets are protected if the business runs into debt.
Separate Legal Entity:
The company is recognized as a legal entity separate from its owners. It can own assets, enter into contracts and sue or be sued in its own name.
Access to Capital:
You can raise funds by bringing in investors and issuing equity shares. Banks and NBFCs also prefer lending to private limited companies.
Credibility & Branding:
It gives your business an identity and projects a credible image to customers, vendors and the public.
Tax Benefits:
Companies enjoy taxes as low as 15% (sec 115BAB) compared to Partnership Firms having a Flat rate of 30%
Considering these advantages, it makes sense to register a private limited company if you want to scale up your enterprise in Pune.
Also Read: How Much Income is Taxable in India? Income Tax Slabs Old and New. – FilingWala.Com
Step-by-Step Process to Register a Private Limited Company in Pune
Follow these key steps for smooth company incorporation:
Choose a Unique Name
– Your company’s name needs to be unique and represent its business activities.
– Avoid using names of existing companies or trademarks to prevent copyright issues.
– Don’t use terms like India, National, Hindustan, Pune etc. without approval from relevant authorities.
– Certain words like Bank, Financial, Stock Exchange etc. can only be used after obtaining regulatory licenses.
Obtain Digital Signatures
– All directors need to obtain Class 2 or Class 3 digital signatures from authorized providers. This will be used to sign and submit e-forms.
Prepare Incorporation Documents
– MOA (Memorandum of Association) defines company’s objectives, activities and share capital structure.
– AOA (Articles of Association) lays out internal rules for company management and operations.
You can prepare these yourself or hire professionals like chartered accountants or company secretaries to draft them.
Choose Registered Office Address
– This will be your company’s official address in Pune for communication with MCA and Registrar of Companies.
– You need a NOC from property owner if the premises is rented.
File Company Registration Forms
– SPICe+ Form: Main application form for name approval and company incorporation.
– DIR-3 KYC: For KYC of all directors.
– INC-9: Declaration from company subscribers for compliance with all incorporation requirements.
– Submit the forms electronically on MCA portal along with scanned copies of required documents and registration fees.
Obtain Certificate of Incorporation
– On approval, MCA will issue a 21-digit Corporate Identification Number (CIN) and CoI confirming your company’s registered legal status.
– This certificate enables you to open a bank account and begin operations.
Post Registration Compliances for Private Limited Companies
Some key compliances to fulfill after getting your company registered:
– PAN: Apply for Permanent Account Number from Income Tax Department.
– TAN: Tax Deduction and Collection Account Number for TDS related transactions.
– GSTIN: For GST registration if annual turnover exceeds ₹40 lakhs.
– ESIC & PF Registration: For companies with over 20 employees for employee benefits compliance.
– Shop Act License: Required to start operations in Maharashtra.
– Bank Account: Open a current account in your company’s name for all financial transactions.
– Annual Filing: File financial statements and annual returns under Form AOC-4 and MGT-7.
– Board Meetings: Conduct at least 4 meetings annually. Maintain minutes of proceedings.
– Income Tax: File ITR-6 annually. Advance tax if tax liability exceeds ₹10,000.
Staying compliant helps build credibility with regulators and lenders. Seek help from consultants like chartered accountants at filingwala.com to fulfill these requirements smoothly.
Choose the Right Professional Services for Hassle-free Company Registration
While it is possible to register a private limited company on your own, first-time entrepreneurs can benefit greatly by availing professional services.
Here are some key advantages of using a consultant:
– Save Time: Experts handle all regulatory procedures efficiently saving you time and effort.
– Avoid Mistakes: They ensure all documents and forms are prepared accurately avoiding rejections or penalties.
– Legal Guidance: Professionals can provide guidance on best practices related to company law and tax regulations.
– Post Registration Support: They assist with licensing, accounting, HR and other functions to smoothly start operations.
– Nominee Services: Consultants can provide nominee directors and shareholders during incorporation.
For a seamless registration experience, hire an established firm like Filingwala that has assisted over 10,000 entrepreneurs across India. Their affordable packages and expertise can set your company up for success.
Frequently Asked Questions
Q. How many days does it take to register a private limited company in Pune?
If directors accurately complete all documents and procedures in the first attempt, they can typically register a new private limited company in Pune within 15 to 20 days.
Q. What are the minimum requirements for directors and shareholders?
As per Companies Act 2013, a private limited company requires:
– Minimum 2 directors
– Minimum 2 shareholders
– Each director and shareholder must have a valid DIN and DSC
Q. What are the cost and fees for company registration?
The typical registration cost for a private limited company in Pune is ₹15,000 – ₹25,000. (check at filingwala.com)This includes:
– Name approval fees: ₹1,000
– Stamp duty: ₹1,000-₹2,000
– Professional charges: ₹8,000-₹15,000
– Government fees for SPICe+ filing: ₹6,000-₹10,000
Q. Do I need to be physically present in Pune for company incorporation?
Physical presence is not mandatory. Directors can complete the entire registration process online by digitally signing and submitting scanned documents
Conclusion
Registering a private limited company in Pune can be straightforward and hassle-free by following the right steps and engaging professional services. This offers your business credibility, access to finance and a host of other benefits to support your entrepreneurial journey. With good planning and execution, you can quickly establish your company legally and focus on growing your business.
