We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
"Let's Protect your identity and Create Value for your brand with team Apedzii"
A Limited Company is a type of business structure where the liability of its members is limited to the amount unpaid on their shares. It can be a public limited company (PLC) or a private limited company (Ltd.). Here, we focus on the private limited company.
Registration Process
- Name Approval: Apply for approval of the proposed company name.
- Incorporation: Submit incorporation documents, including the Memorandum of Association and Articles of Association, to the Ministry of Corporate Affairs (MCA).
- Certificate of Incorporation: Upon approval, the Registrar of Companies (RoC) issues a Certificate of Incorporation.
- PAN and TAN: Obtain PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) for taxation purposes.
Advantages
- Limited Liability: Shareholders' liability is limited to their share capital, protecting personal assets.
- Separate Legal Entity: Distinct legal entity, providing a clear separation between the company and its owners.
- Fundraising: Easier access to funding through equity shares, attracting investors.
- Perpetual Succession: The company continues to exist even if shareholders change.
Points to be Considered
- Complex Compliance: Requires adherence to strict regulatory compliance, involving higher administrative efforts.
- Higher Formation Cost: More expensive to establish compared to sole proprietorships or partnerships.
- Public Disclosure: Financial information is publicly disclosed, as required by law.
Compliance
- Annual Filings: Private Limited Companies must file annual returns, financial statements, and other compliance documents with the Registrar of Companies (RoC).
- Statutory Audits: Mandatory audit of financial statements by a qualified auditor.
- Board Meetings and AGMs: Regular meetings and an annual general meeting are required.
Liabilities
- Limited Liability: Shareholders have limited liability, protecting personal assets. Directors' liability is limited unless involved in fraudulent activities.
A Private Limited Company is suitable for businesses aiming for scalability, attracting investors, and establishing a strong legal and financial structure. While compliance requirements are higher, the limited liability aspect makes it an attractive choice for businesses with growth ambitions. Consult with professionals to ensure compliance with legal and regulatory obligations.