Private Limited Company-Tamil Nadu (Upto 1 Lac Capital)(Excluding Goverment fees)

Description

Private Limited Company-Tamil Nadu

Formation Process

Introduction

A Private Limited Company is a popular business structure in India, including Tamil Nadu, due to its limited liability, ease of formation, and flexibility. Here’s a step-by-step guide to forming a Private Limited Company in Tamil Nadu:  

Step 1: Obtain Director Identification Number (DIN) and Digital Signature Certificate (DSC)

• DIN: Every director of the company needs a DIN. This is a unique identification number assigned by the Ministry of Corporate Affairs (MCA).  
• DSC: A DSC is a digital signature that is legally recognized for electronic transactions. It is required for filing documents with the MCA.  

Step 2: Name Approval

• Choose three unique names for your company.
• Submit the names to the Registrar of Companies (RoC) for approval.
• The RoC will check for name availability and similarity with existing company names.
• Once approved, you can proceed with the next steps.

Step 3: Prepare Incorporation Documents

The following documents are required for incorporation:

• Memorandum of Association (MoA): This document outlines the company’s constitution, including its name, registered office address, objects, and share capital.  
• Articles of Association (AoA): This document details the internal rules and regulations of the company, such as the powers and duties of directors, shareholders’ rights, and procedures for meetings.  
• Declaration by Professionals: This is a declaration by a Chartered Accountant or a Company Secretary certifying that all legal formalities have been complied with.
• Affidavit: An affidavit confirming compliance with the Companies Act, 2013.  
• Consent to Act as Director: A consent letter from each director agreeing to act as a director.  
• Proof of Registered Office Address: This can be a rental agreement, a lease deed, or a No Objection Certificate (NOC) from the property owner.  
• Identity and Address Proof of Directors: This can include PAN cards, Aadhaar cards, passports, etc.  
• Digital Signature Certificates (DSC) of Directors: These are required for filing the incorporation documents electronically.  

Step 4: File Incorporation Application

• The incorporation application, along with the required documents, is filed with the RoC through the SPICe+ form.  
• The RoC will verify the documents and process the application.

Step 5: Certificate of Incorporation

• Upon successful verification, the RoC will issue a Certificate of Incorporation.  
• This certificate officially recognizes the company as a legal entity.

Additional Steps

• Open a Bank Account: Once incorporated, open a bank account in the company’s name.  
• Obtain PAN and TAN: Apply for a Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) for tax purposes.  
• Obtain Necessary Licenses and Permits: Depending on the nature of your business, you may need to obtain various licenses and permits from the relevant authorities.  

Timeframe

The entire process of incorporating a Private Limited Company in Tamil Nadu typically takes around 10-15 working days. However, the actual time may vary depending on factors such as the complexity of the company’s structure, the efficiency of the RoC, and any delays in obtaining necessary approvals.

Professional Assistance

While it’s possible to incorporate a company on your own, it’s advisable to seek the assistance of a professional such as a Chartered Accountant or a Company Secretary. They can guide you through the entire process, ensure compliance with all legal requirements, and help you avoid potential pitfalls.  

By following these steps and seeking professional assistance, you can successfully incorporate your Private Limited Company in Tamil Nadu.