Financial Growth by Personal Support
We deal in all types of ROC works including Formation of Companies We facilitate our clients in formation of Private Limited Company, Limited Company & Section 8 Company
A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship. While the limited liability feature is similar to that of a corporation, the availability of flow-through taxation to the members of an LLC is a feature of a partnership rather than an LLC.
A private company is a company which is owned by non-governmental organisations or a relatively small number of shareholders or members of a company. Usually, a private company does not offer or trade its shares to the general public on the stock exchanges, but rather the private stock of the company is owned and traded.
Ltd. is a standard abbreviation for “limited,” a form of corporate structure available in countries including the U.K., Ireland, and Canada. The term appears as a suffix that follows the company name, indicating that it is a private limited company. In a limited company, shareholders’ liability is limited to the capital they originally invested. If such a company becomes insolvent, the shareholders’ personal assets remain protected.
A company is referred to as Section 8 Company when it registered as a Non-Profit Organization (NPO) i.e. when it has motive of promoting arts, commerce, education, charity, protection of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives.The income of NPO can not be used for paying out dividends to the company’s members and has to be for the promotion of charitable objectives. Such companies obtain an incorporation certificate from the central government and are liable to adhere to the rules specified by the government.
A person who is responsible for a particular activity or department in a company, a college, etc.
A shareholder, also referred to as a stockholder, is a person, company, or institution that owns at least one share of a company’s stock, known as equity. Because shareholders essentially own the company, they reap the benefits of a business’s success. These rewards come in the form of increased stock valuations or financial profits distributed as dividends.
In telecommunications, an entity (individual, company, or other organization) that leases a circuit or contracts to use a public telecommunications service.
Corporate Identification Number or Corporate Identity Number (CIN) is a 21 digit alpha-numeric number provided to all Private Limited Companies (PLCs), One Person Companies (OPCs), Companies owned by Government of India, State Government Companies, Not-for-Profit, Nidhi Companies, etc. registered in India. CIN number is a unique identification number that is given by the Registrar Of Companies (ROC) of various states under the Ministry of Corporate Affairs (MCA). CIN number is assigned to companies registered in India by the ROC located in states across the nation
Company is an artificial person having legal entity and holding Perpetual Succession. To run the Business of the company it is required natural persons so that these persons could manage the affairs of the company. Directors are the persons who are being appointed by shareholders in the General Meeting. Directors are regarded as an Officer of the company.
Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Likewise, a digital certificate can be presented electronically to prove one’s identity, to access information or services on the Internet or to sign certain documents digitally.
The memorandum of association of a company is an important corporate document in India. It is often simply referred to as the memorandum. In the India, it has to be filed with the Registrar of Companies during the process of incorporating a company.It is the document that regulates the company’s external affairs, and complements the articles of association which cover the company’s internal constitution. It contains the fundamental conditions under which the company is allowed to operate. Until recently it had to include the “objects clause” which let the shareholders, creditors and those dealing with the company know what is its permitted range of operation, although this was usually drafted very broadly. It also shows the company’s Authorised capital. Read some important aspects of same.
The Articles of Association (AoA) is a document that defines the purpose of a company and specifies the regulations for its operations. The document outlines how tasks should be accomplished within an organization, including the preparation and management of financial records, and the process of director appointments.
A company stamp or chop in India is an imprint of the company’s legal name. It serves as evidence that a document or legal agreement is executed on the company’s behalf. A company stamp or chop in India can only be carried out by those with designated authority.
A minute book refers to a book kept by the clerk of a court for recording a summary of all the judicial orders in a proceeding. The records are identified by case numbers. It also refers to a record of official actions taken at a meeting of a board of directors or of the stockholders of a corporation
Director’s report is a financial disclosure made by director to the shareholders of the company. It is envisaged to disclose financial status of the company by disclosing company’s affairs and scope of work along with its subsidiaries. It is basically financial summary of the company for the whole financial year and future vision too. In erstwhile companies act, 1956 provisions related to director report as defined under section 217, but in new companies act, 2013, these terms have been defined under many sections.
Every company is required to get audited by a Chartered Accountant.
The Registrar of Companies (ROC) is an office under the Ministry of Corporate Affairs (MCA), which is the body that deals with the administration of companies and Limited Liability Partnerships in India. At present, 25 Registrar of Companies (ROCs) is operating in all the major states/UT.
Conducting business in India requires keen ability to understand some complex and some not so complex realities associated to this country’s law, bearing in mind the evolving policies of the Government, amendments to the existing statutes and new laws enacted in the recent times. We provide efficient and timely compliance & secretarial services regarding qualification, appointment, remuneration, removal, retirement of directors, conducting board and shareholders’ meetings, passing of resolutions, related party transactions, the maintenance of books of accounts and the preparation and presentation of annual accounts (matters to be reported upon in the annual reports of the companies), periodical filing of forms with the Registrar of Companies, etc.The company has to intimate the concerned Registrar of Companies, on the timely basis, about the appointment of Directors, their removal, certain other changes in the prescribed manner.
Certificate of incorporation is a legal document required at the time of company formation. It is said to be a license to form a company, issued by the state government. The private limited company in India is measured by the shares that is a shareholders is only liable to a limit of creditors.
The name must be checked on MCA portal as well as Trademark portal.
One Person Company means a company which has only one member’ It shall also be important to note that Section 3 classifies OPC as a Private Company for all the legal purposes with only one member. All the provisions related to the private company are applicable to an OPC, unless otherwise expressly excluded.
PAN Card. The proposed Director of the Company should submit a PAN Card copy for company registration.
Documents Required for Company Registration
The whole process including approval of DIN, Name, and Incorporation takes around 7 working days. However, now-a-days registering a Company has become a fast process as all documents are dragged in a single application form with MCA.
Four major steps to register a company/ startup in India:
All photos courtesy of individual Forbes Agency Council members.
Minimum number of members: Minimum number of members required to form a private company is 2, whereas a Public Company requires at least 7 members.
| Particulars | Private Limited Company | Public Limited company |
|---|---|---|
| Minimum Capital Requirement | NO minimum capital is required | 5 Lakh |
| Minimum number of member | Compliance | Minimum 7 |
| Minimum Number of Director | Compliance | Minimum 3 |
| Compliance | Less compliance as compared to Ltd company | More compliance |
7 Main Types of Share Capital | Company Accounts
TaxFinMan Consultancy Services, a renowned firm based in New Delhi, India, offers an extensive range of services in accounting, taxation, labor law compliance, corporate governance, and business management, catering to Indian and international businesses of all sizes, from startups to large enterprises. With deep expertise and years of experience, we specialize in delivering comprehensive, end-to-end business solutions that ensure seamless operational success and regulatory compliance.
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