Public Limited Company Registration
Public Limited Company Registration
- Most popular form of Business entity in case of big businesses
- No restriction on maximum no. of members and shareholders
- Flexibility of addition and deletion of Directors and Shareholders
- Most suitable for funding from Investors, PE firms, Banks
- Flexibility of raising funds by issue of Debentures/Bonds
- No restriction on the transferability of the shares of a Public company
- Free to invite public for subscription i.e., a Public Limited Company Registration can issue a Prospectus.
Inclusions in this package
Time Involved in the Process
- Approx. 15-18 working days till getting Incorporation certificate
- Approx. 8 working days in getting PAN/TAN
- Approx. 5 working days in opening bank account
Documents Required for Public Limited Company
How many Directors and Shareholders are required for starting Public Ltd Company?
Minimum 3 Directors and 7 Shareholders/members. Can be even family members or relatives or friends. Should be major. No restriction on maximum no. of members
- Rs 500,000.
- Fees to be paid to ROC depends upon amount of authorized capital. In case authorized capital is less and company need more money in the business, it has to increase authorized share capital.
- Authorized capital signifies maximum capital which can be raised by company. Paid up capital signifies how many shares have been actually held by shareholders and paid for same. Paid up capital can be less than authorized share capital
- Firstly, Apply for Digital signature of all Directors,
- Secondly apply for DIN of all Directors
- Thirdly apply for name approval/reservation, then file MOA, AOA and apply for incorporation. Finally get the certificate of registration.
- You need to apply for PAN and TAN no. of company, thereafter open current account in bank and deposit paid up share capital money.
- In case you are into trading business, you would also require VAT/Sales Tax registration i.e TIN no. [Upto Rs 25 lakh local sales in Delhi, not mandatorily required to get VAT registration. However, in case of interstate sale and purchase there is no exemption]
- In case you are into service industry providing services, you would also require Service Tax registration. [Upto Rs 10 lakh annual sales, not mandatorily required to get Service tax registration.]
- In case you want to do import export, you would also require Import Export License called as IEC code. Some other licenses are required depending upon type of industry and nature of work.
- Normally, a public ltd company has to do following compliances:
- Accounting or Book keeping [On daily basis]
- VAT/CST return to be filed online quarterly [In case of trading concern if TIN no. is taken]
- Service tax return to be filed online half yearly [In case of service providers if service tax no. is taken]
- Sales tax/VAT, Service tax, TDS, Excise duty has to be deposited monthly
- TDS returns of Salary paid and vendor payment is to be filed quarterly, if applicable
- Excise return needs to be filed monthly/quarterly [In case registration taken]
- Financial audit has to be got done by CA and audit report needs to be collected
- Tax audit has to be got done by CA and audit report needs to be collected.
- Balance sheet and Profit and Loss account and other financials need to be prepared and maintained.
- Minimum 4 Board meetings need to be held in one year
- Minimum 1 AGM needs to be held in a year
- Other secretarial compliances like maintaining minute book, registers, sending notices etc
- Income tax return of pvt ltd co. needs to be filed online annually before 30th September
- ROC returns (approx. 4 in nos.) needs to be filed annually within 30 and 60 days of AGM
- Other need based compliances.
- Advance tax needs to be paid periodically
EZYBIZ India provides one window solution to all the aforesaid compliance. No need to hire separate consultants for aforesaid work. We also send timely reminders to clients about due dates.
Yes, you need to file NIL returns, prepare balance sheet and profit and loss account and also get auditor’s certificate as well as secretarial compliance.