Company types in India

Company types in India

“Company means a company incorporated under this Act or any previous Company Law,” states Section 2 (20) of the Company Act of 2013.

A company, by definition, is a legal entity with limited liability, perpetual succession, a common seal, and a separate legal entity. It is a voluntary group of individuals who contribute to the company’s capital to conduct business.

A company’s capital is typically divided into shares, each of which can be transferred subject to certain conditions.

Private limited company

For small businesses, a pvt ltd company that has Private limited company registration in Bangalore is a private entity. This kind of business entity prevents shareholders from trading shares publicly and limits owner liability to their shareholders, which are limited to 200.

Characteristics of Private limited company

1. The shareholders of a pvt ltd that has Private limited company registration in Bangalore, face limited liability, which limits the risk to their assets. This means that as a shareholder, you will only be responsible for covering the company’s costs up to the amount you contributed. Since the shareholders are not personally liable, they do not have to use their assets to cover the company’s liabilities.

2. Legitimate Substance – A pvt ltd company that has Private limited company registration in Bangalore has a different lawful element not the same as you. This indicates that the management of the company’s debtors and creditors, as well as its assets and liabilities, falls under its purview. The company’s losses will not be your responsibility. As a result, the creditors won’t be able to sue you to get the money back.

3. Reliability: The Companies Act of 2013 mandates that has Private limited company registration in Bangalore with the Registrar of Companies (ROC). 

The company’s information can be viewed by anyone via the Ministry of Corporate Affairs (MCA) portal. Additionally, during the company’s formation, information about each director is made available. 

4. Perpetual Succession: A pvt ltd company which has Private limited company registration in Bangalore has “perpetual succession,” which means that it will continue to exist uninterruptedly until it is legally dissolved. 

Because it is its distinct legal entity, a company endures despite membership shifts and is unaffected by any member’s death or retirement. 

How to register Private limited company

Do you want to set up your business as a private limited liability company? It is difficult to register your business as a private limited company because the process is complicated and requires numerous compliances. 

Fear not; our professionals can assist you at every stage of the private limited company registration process. You can get expert assistance from us instead of going through the registration process from beginning to end.



To obtain Private limited company registration in Bangalore, the following steps are followed.

1: Obtain a Digital Signature Certificate (DSC) 

DSC is required to submit Private limited company registration in Bangalore. The registration procedure is entirely online, and a digital signature is required for the forms. 

In the Memorandum of Association (MOA) and Articles of Association (AOA), DSC is required for each subscriber and witness.

For Private limited company registration in Bangalore, Digital signature certificates must be obtained from government-approved certifying authorities. Here, you can find a list of these certified authorities. 

Alternatively, you can get your DSC online from here in just two days. The certifying authority determines how much it costs to obtain DSC. You must obtain the DSC class 3 category.

Private limited company registration in Bangalore

2: Request a DIN (Director Identification Number) 

The DIN is a director’s identification number. Anyone who wants to be a director in a company needs to get it. It only takes one DIN to become a director in any number of businesses.

3: Name Approval there are a few options for getting the name approved:

Choice 1: Utilizing Part-A of the SPICe+ Form to reserve the name: 

The Ministry of Corporate Affairs (MCA) launched the SPICe+ online service for the incorporation of a company on February 23, 2020, to streamline procedures for both new and existing businesses. While reserving Unique Names for the Companies, Part-A of the SPICe+ form permits “name reservation” with two proposed names and one re-submission (RSUB). Also, it is done for Private limited company registration in Chennai.

The applicant must submit a new SPICe+ form with the required fee if the name is rejected due to a trademark, registered company, or non-compliance with the Companies (Incorporation Rules) of 2014. 

However, the name will be reserved for 20 days following approval, after which the company must file Part B of the SPICe+ form to incorporate.

Please be aware that the SPICe+ name reservation form does not require a DSC or DIN. Only an MCA Account is required.

2nd Choice: Name endorsement by documenting Section A and Part-B of SPICe+ Form together: Both the incorporation application and the proposed name can be applied for. Part B of the SPICe+ enables applications for Private limited company registration in Chennai

If a combined application is denied because the name was not approved, the applicant will receive a second chance to fill out the same SPICe+ form for free. 

The resubmission of the SPICe+ form (both for independent name endorsement and consolidation) can be made utilizing the ‘name applied for’ or ‘application number’ interface accessible on the client’s dashboard.

You can start over with the SPICe form if the name isn’t approved the second time around. Any day, this will be less expensive than the first choice. 

Step 4: The incorporation and approval of the name take approximately two to three days. The MCA has introduced Form SPICe+ (INC-32) for the registration of new businesses beginning on February 23, 2020. 

Online-based incorporation under Part-B of the SPICe+ form also simplifies company incorporation.

The applicant can proceed with the incorporation by clicking on the link for the approved name, which is displayed on the user’s dashboard. 

The online-based Private limited company registration in Chennai is made possible by the Part-B of the new SPICe+ form, and the benefits of using a single application include the following:

Incorporation of a new company Application for PAN and TAN (mandatory) Application for EPFO registration (mandatory) Application for ESIC registration (mandatory) Application for 

Professional tax registration (only for Maharashtra) Application for opening a bank account for the company (mandatory) Application for allotment of GSTN (Goods and Service Tax registration number) if applied for (optional). 

The new SPICe+ form makes incorporation a process that is both seamless and quick The linked forms AGILE-PRO, eAoA, eMoA, URC1, INC-9 (as applicable) will automatically fill in the information provided in Parts A and B of SPICe+.

For purpose of Private limited company registration in Chennai, each of these forms must be downloaded as a PDF and digitally signed before being submitted. After completing the SPICe+ form, the user must also download it in PDF form and attach the DSC to digitally sign it.

For Private limited company registration in Chennai submit Form INC-32, a professional’s digital signature is required. The professional must sign off on the accuracy of the form’s information. The expert may be an advocate, Chartered Accountant, Company Secretary, or Cost Accountant.

Before May 2015, several documents had to be filled out for companies to be registered. These documents included the DIR–3 for getting a DIN (Director Identification Number), the INC-1 for getting a name, and the INC–7 for registering the company with the Memorandum and Articles of Association. 

The INC–22 for the registered office, and the Form DIR-12 for the directors. The new Name Approval Process “RUN” was announced in January 2018, and the e-form INC-1 was omitted. INC-7 form excluded.

The SPICe+ form now combines all of these forms, and the RUN service can only be used to change an existing name for Private limited company registration in Chennai. The SPICe+ form is the only alternative for incorporating a company. No ROC expenses for Joining of Organization up to 10 absence of approved capital.

Step 5: MOA & AOA

For Private limited company registration in Chennai, e-MoA (INC-33) and e-AoA (INC-34) refer to electronic articles of association, while e-MoA is an electronic memo. The purpose of these forms is to make the registration of companies in India easier.

private limited company registration in Chennai

The company’s charter is in the memorandum, while the company’s internal policies cis in the articles of association.

The physical filing was necessary for Private limited company registration in Chennai. This is for earlier memorandums of association and articles. However, these forms are now available for online filing via the MCA portal as a SPICe+-linked form (INC-32). Subscribers to the Memorandum and Articles of Association must digitally sign these forms.

Step 6: For Private limited company registration in Chennai, applications for PAN and TAN have submission using this one form, SPICe+. After the SPICe+ form has submitted, the system will automatically generate these forms. 

After the SPICe+ Form has its approval and after Private limited company registration in Chennai complete the Pvt ltd company Certificate of Incorporation is issued with the PAN given by the Income Tax Department. The MCA will send an email with the Certificate of Incorporation, PAN, and TAN. The PAN card will have issuance by the Income Tax Department.

MCA will approve the registration and issue a CIN (Corporate Identity Number) if all of the information on the form is filled out correctly and the necessary documents are submitted. This CIN can also be tracked online through the MCA portal.

Partnership firm registration

Apart from sole proprietorships and corporate forms, partnerships are an important type of business organization.

There are times when an entrepreneur alone would not be able to acquire the necessary capital and resources. In addition, the nature of business necessitates increased supervision and control, work division, and risk sharing.

However, unlike a business, there aren’t as many members willing to split profits and risks. In addition, the company’s size is insufficient to warrant incorporation as a corporation.

Registration process

Application for Registration 

Partnership firm registration in Bangalore is done by submitting Form No. 1. The Registrar must also receive the required fee, the form, and a true copy of the partnership deed. 

The Registrar of Firms in the region where the business is located must receive such an application. So it includes:

The application must also be signed by all partners or agents who are specifically authorized to do so on their behalf, as well as the place or principal place of business and the nature of the business of the firm. 

The dates of each partner’s joining and the full names and addresses of all partners must also be included. Likewise, it should be shipped off the Registrar inside a time of one year from the date of development of the organization firm.

Verification of the Application for Registration 

Each partner who signs the application for Partnership firm registration in Bangalore must also check it following the Act.

3. The following documents, in addition to the prescribed fee, must be submitted to the Registrar with the application for registration. These are some:

Application for Partnership firm registration in Bangalore in Form No. 1 Accurate and properly filed certified copy of the Partnership Deed Under the Indian Stamp Act, the partners’ Partnership Deed must be recorded on stamp paper. 

Or the deed must be executed on a stamp paper for Partnership firm registration in Chennai. The deed is legal in the state where it is executed.

For Partnership firm registration in Chennai rental or Rent agreement or verification of responsibility for business

Choosing a Name for a Partnership Firm

When choosing a name for the firm for Partnership firm registration in Chennai, the guidelines outlined in the preceding section should be taken into consideration. 

However, the company must use brackets and the word “Registered” after its name to be registered.

In addition, any partner required for Partnership firm registration in Chennai who is dissatisfied with the Registrar’s decision regarding the company name may appeal to the official designated by the State Government in this regard. 

With the payment of the necessary fee and within 30 days of receiving notice of such an order for Partnership firm registration in Chennai, this appeal must be filed.

Upon receiving the appeal, the authorized officer would make this decision.

6. Finally, per section 59 of the Act, the Registrar records the Statement in a register referred to as the register of forms and files it. 

After the Registrar is satisfied that the application for Partnership firm registration in Chennai complies with all applicable regulations, this is carried out. 

The Partnership firm is considered to have been registered on the date that the Registrar records and files the Statement.

Fee for Registration 

By section 71 of the Act, the State government is free to set fees and other registration-related documents for the Registrar. This is done for Partnership firm registration in Chennai.

LLP registration process

A limited liability partnership is a type of incorporated business form that was introduced by the LLP Act of 2000. It is similar to a limited company. 

It is frequently appropriate for professions that typically operate as a traditional partnership (such as attorneys, accountants, dentists, and others).

When an LLP is consolidated with LLP registration in Bangalore, it achieves free legitimate status, offering limited responsibility to its individuals. 

1: Digital signature is required for LLP registration in Bangalore also to sign and submit an online form for DSC application it is also used to sign and upload the LLP’s annual and income tax returns. 

The DSC for LLP registration in Bangalore is in a pen drive and can be gotten from sellers like E-Mudhra or Sify.

All of the designated partners must use digital signatures for LLP registration in Bangalore. However, the regular partners need not do so. 

2: We can submit applications for two names through the RUN-LLP application (Reserve Unique Name Limited Liability Partnership). The activity word ought to be mentioned in the distinctive names. 

For instance, there are three parts to the name: the prefix, the activity, and the LLP. The name should be unique and not be similar to any other LLP, company, or trademark. 

3: Check the name’s availability for LLP registration in Chennai.

Then you submit partner KYC documents, office address proof (such as a utility bill for your proposed registered address), and the owner’s no-objection certificate (NOC). 

We draft a contract and send it to you for your review for LLP registration in Chennai. The agreement LLP registration can be completed entirely online in ten working days.

OPC registration in Chennai

Features of LLP Registration

1. Limited Liability: In contrast to Partnership firms, LLP partners are only responsible for their contributions to the LLP.

2. Separate Legal Entity – The LLP becomes a distinct legal entity when it has LLP registration in Chennai. As a result, LLP is distinct from its partners, allowing both parties to sue and be sued.

3. Perpetual Existence: An LLP’s feature after LLP registration in Chennai is of perpetual existence ensuring that the company will continue to exist even after all of its partners have passed away.

4. The second advantage of an LLP after having LLP registration in Chennai is that it requires fewer regulatory compliances than a private limited company does.

5. Easy Conversion: The LLP Act of 2008 makes it simple for LLPs to become privately limited or public limited companies, just as any partnership firm can become an LLP firm.

6. No Audit: According to the LLP Act, after LLP registration in Chennai an LLP is not required to conduct an audit of its books of accounts; rather, Rule 24 of the LLP Rules of 2009 applies to the auditing of an LLP’s books of accounts.

OPC Registration

The Companies Act of 2013 introduced a novel idea called OPC, which gives a single owner the rights of a company. Additionally, forming an OPC facilitates having complete control over the company’s affairs while limiting liability.

OPC registration process

To obtain OPC registration in Chennai, the following steps are followed.

Obtain a certificate for a digital signature 

The first thing an OPC registration in Chennai needs to do is get a digital signature. A digital signature is needed for a lot of things later in the formation of a one-person company. 

At the time of application, the relevant authority issues the digital signature, which is valid for two years. A self-attested address proof, the applicant’s PAN, and a passport-sized photograph are all required to obtain a digital signature certificate.

Direct identification number 

Obtaining a DIN is the second step in OPC registration in Chennai. It is a number given by the service of corporate undertakings for the singular candidate. 

Unless removed, the number has lifetime validity. Since each company director will have a personal DIN, applying for OPC registration in Chennai.

Reserving name

Before making an application for OPC registration in Chennai, the name of the proposed organization can be saved. After paying the appropriate fee, you can reserve the proposed name by completing the RUN Form. 

There can be no more than two names listed in the preferred order. Before applying, a professional will check to see if the name is available.

The registrar, on the other hand, is free to decide whether or not to approve the company’s name. The name will be reserved for 20 days following approval. 

So within the allotted time, you must submit an application for OPC registration in Chennai.

Certificate of Incorporation

The final step is to submit the required application to obtain a certificate of incorporation. The simplified format for incorporating a company, also known as SPICe forms, can be used to submit an online application for OPC registration in Chennai

When applying for the registration of a private limited company in India, you should also submit the MOA and AOA along with the SPIC forms.

Features of OPC

LLP Registration in Chennai

After obtaining OPC registration in Chennai, it has the following features.

If a person registers a sole proprietorship, they will not be eligible to incorporate more than one such organization.

• When the proponent passes away or becomes disabled on the contract, the OPC’s memorandum must include the name of a person who has given their prior consent in the form. This name will change from the OPC to a person.

• The organization can be a one-person company (OPC) and can have OPC registration in Chennai, which is treated as a business owned by a single person under the Act and only requires one person to support its form.

Smartauditor does OPC registration in Chennai at an affordable rate.

Udyam registration

The success of the nation’s small and medium-sized enterprises (SMEs) determines its growth. Small and medium-sized enterprises (MSMEs) make up about 29% of India’s GDP. In this way, these SMEs immensely affect the economy of India. 

The Indian government has launched Udyam Registration, an online registration system, intending to expand SSI and SMEs in India. The establishment of micro, small, or medium-sized businesses will benefit greatly from this Udyam registration in Chennai.

The specifics of the entire procedure for Udyam registration in Chennai are provided below.

About Udyam 

An organization known as Udyam is in charge of classifying and registering businesses. Udyam is the name given to businesses, companies, and enterprises that have been successfully registered under the MSME.

What is registration for Udyam?

The Central Government has notified specific criteria for classifying businesses as micro, small, and medium enterprises after receiving the Advisory Committee’s recommendations.

The form for Udyam registration in Chennai and the procedure have been established by the Central Government.

  1. Registration Procedure 

On the Registration portal for Udyam registration in Chennai, you can find the Registration Form.

2. Fill in every one of the subtleties accurately on Udyam enlistment. Verify the entered information once more.

3. Continue with the instalment for the Udyam enlistment application.

4. One of the registration executives will process your Udyam registration application.

5. The Udyam Registration Certificate after Udyam registration in Chennai will be sent to your registered email address within one to two hours of registration.

Documents Required: 

1. Udyam registration in Chennai requires an Aadhaar number.

2. An obligatory Aadhaar from the proprietor, partner, promoter, director, or Karta is required.

3. To register a company, limited liability partnership, cooperative society, society, or trust, the organization or an authorized signatory must provide its Aadhaar number and GSTIN.

4. The properly registered business as an Udyam should be filled out on a self-declaration basis if it did not submit any information due to a lack of PAN.

Features of Udyam registration

Direct Duty Exception: During a business’s early years, MSME companies registered under Udyam registration in Chennai are exempt from direct tax. It all depends on one crucial aspect, which is the nature of your company.

Banks’ Allowances for Loan Interest Rates: According to the interest subsidy scheme, banks offer businesses having Udyam registration in Chennai a 2% interest subsidy on new or existing loans.

Up to fifty per cent savings on trademark and patent fees: Using the Udyog Aadhaar/SSI Reg./MSME certificate, MSMEs can receive a 50% discount on trademark and patent fees.

Easy Access to Udyam registration in Chennai, Licenses, and Approvals: The government gives MSMEs registered under the Udyam scheme preference for various licenses and registrations.

Rebate on Power Bills: On electricity bills, the government gives MSME businesses discounts.

Up to 1% Interest Rate Exemption on an Overdraft: All MSMEs having Udyam registration in Chennai can get an exception on an overdraft of almost 1% loan fee. However, it varies from bank to bank.

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