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In India, a Private Limited Company is regulated by the Ministry of Corporate Affairs (MCA). It is simple to register a company with SattvaCFO since everything is done online. A minimum of two persons must act as directors and shareholders in order to form a business in India. To create a private limited company in India, you’ll need the director’s PAN card, address evidence, and bank statement, as well as the registered office’s address proof. Private Limited Company Registration in Mumbai Maharashtra.

Private Limited Company Registration in Mumbai Maharashtra

A minimum of 2 directors must be nominated in order to form a company in Mumbai, with a maximum of 15 directors allowed. To start a Private Limited Company in Mumbai, Maharashtra, there is no minimum paid-up capital requirement, and the company’s name must finish in Private Limited.

 

Checklist for forming a business in Mumbai

• A minimum of two directors must be Indian citizens.
• There must be a minimum of 2 shareholders and a maximum of 200 stockholders.
• It’s necessary to have a registered office address.
• All papers must be provided over the internet.

 

How to register a Private Limited Company in Mumbai?

Documents must be submitted:

• The two nominated Directors must present their identity documents, which include
• Passport or PAN Card
• Passport, driver’s licence, election ID, ration card, or Aadhar card are all acceptable forms of identification.
• Bank statements/electricity bills,/phone bills are all acceptable forms of proof of residence.

Process for obtaining name approval:

The company’s name must be distinctive, and an application must be submitted to the Ministry of Corporate Affairs for approval. It is possible to supply up to two names. In the event of rejection, the applicant is offered the option of resubmitting the form with two additional names.

Obtaining the Digital Signature Certificate:

The prospective directors’ Digital Signatures must be obtained. The DSC is necessary for the incorporation application to be signed. The DSC, on the other hand, is not needed to get name clearance.

SPIC e+ Form Application:

The incorporation application is filed in the SPICe form with the MCA after receiving the Digital Signature Certificate. It is not necessary to acquire name permission before submitting the SPICe Form.

Company Incorporation:

Within 2-3 business days, the company is incorporated, and an Incorporation certificate and the PAN and TAN may be received.

 

What are the Key Compliances for a Company registered in Mumbai?

Appointment of a Statutory Auditor:

Within 30 days of incorporation, the Board of Directors must select a practising Chartered Accountant to conduct the Statutory audit.

Beginning of Business:

The capital specified in the MOA must be placed in a bank account, and the MCA must issue a certificate of start.

Income Tax Returns:

Companies registered in Mumbai are required to file an income tax return on Form ITR each year. 6.

Annual return:

Companies registered in Mumbai are required to file the MCA annual return in Form AOC 4 and MGT 7 every year.

DIN KYC:

Each year, the DIN KYC procedure for the Company’s prospective directors must be completed.

Is it possible for small companies to get registered in Mumbai?

Yes, a small business can register as a private limited company. When a small business registers as a private limited company, it gains recognition from financial institutions, suppliers, and clients.

Who can be a director in a PLC?

A citizen of India who has reached the age of eighteen can become a director of a private limited business.

Can a proprietorship firm be converted into a PLC?

In Mumbai, a proprietorship business can be transformed into a private limited company.