ltd company registration cost
Cost of Registering a Private Limited Company in India
Introduction
In India, starting a business as a private limited company offers several advantages, including limited liability protection, easy fundraising, and greater credibility. However, before setting up a private limited company, it is essential to understand the costs involved in the registration process. This article will discuss the various costs associated with registering a private limited company in India, catering specifically to an Indian audience.
1. Director Identification Number (DIN) Fee
The first step to register a private limited company in India is obtaining a Director Identification Number (DIN) for all the proposed directors of the company. The DIN fee currently stands at approximately INR 500 per director.
2. Digital Signature Certificate (DSC) Cost
A Digital Signature Certificate (DSC) is required for online company registration, including e-filing of documents with government authorities. The DSC cost may vary depending on the certifying authority, ranging from around INR 700 to INR 1500 per director.
3. Name Approval Fee
Choosing an appropriate and unique name for your private limited company is crucial. A fee of approximately INR 1,000 is charged for submitting an application to the Ministry of Corporate Affairs (MCA) to obtain name approval.
4. Memorandum of Association (MOA) & Articles of Association (AOA) Preparation
The MOA and AOA documents outline the company’s objectives, rules, and regulations. Professional assistance may be required to draft and prepare these documents, costing approximately INR 2,000 to INR 5,000, depending on the complexity.
5. Company Incorporation Fee
To register a private limited company, the MCA levies fees based on the authorized capital of the company. For example, for a company with an authorized capital of less than INR 1 lakh, the fee is around INR 2,000. The fees increase with higher authorized capital.
6. Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) Application Charges
After the company’s incorporation, applying for a PAN and TAN is essential for tax compliance. The charges for PAN and TAN applications are approximately INR 110 and INR 65, respectively.
7. Goods and Services Tax (GST) Registration
If your private limited company exceeds the specified turnover limit, GST registration becomes mandatory. The GST registration cost varies depending on the nature of your business, ranging from approximately INR 2,000 to INR 7,000.
8. Professional Services Charges
Most businesses seek professional assistance from chartered accountants or company secretaries for company registration. The professional charges depend on the complexity of the task and consultation duration, varying from approximately INR 4,000 to INR 15,000.
9. Additional State-Specific Costs
Different states in India may impose additional charges for incorporating a private limited company. These charges may include stamp duty, notary fees, and other state-specific levies.
10. Annual Compliance Costs
After the registration, private limited companies must fulfill certain mandatory compliance requirements, such as filing annual financial statements, annual returns, conducting regular board meetings, and maintaining statutory records. These compliance costs may vary depending on professional services hired and the size of the company.
Conclusion
Setting up a private limited company in India involves various costs, from obtaining DINs and DSCs to addressing compliance requirements and charges associated with registration and name approval. While it is essential to factor in these costs, business owners should also consider the long-term benefits of operating as a private limited company. Seeking professional help and guidance throughout the registration process helps in ensuring a smooth and cost-effective incorporation, while staying compliant with Indian laws and regulations. Remember, being aware of the costs involved and planning accordingly can help business owners embark on their entrepreneurial journey confidently.,
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ltd company registration cost
This article is only published for informational purposes. Please consult your Chartered Accountant or Financial Advisor before making any important financial decisions.
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