We provide Private limited company registration in Patna Bihar Ranchi Jharkhand and we deliver Pvt. Ltd. company registration, Private company formation in Patna Bihar & in Ranchi Jharkhand. Call or whatsapp at+91-8540099000 or email us at firstname.lastname@example.org your requirement we will register your Private Limited Company. From 2013, we have served more than 10000 entrepreneurs directly or indirectly.
What is Company?
By company, here we mean entities being registered under Company Act, 2013. Company has been defined as to include “Company registered under provisions of Company Act, 2013. Company is an artificial person in eyes of laws. Means it has separate existence from its promoters. Even though its promoters may die, company does not die. It has indefinite life span. A company can hold assets in its name, can sue anyone in its name or be sued by others. As company is a separate entity, it gets separate pan. So even, when CIBIL score of promoters are not good, company can still take loans.The concept of treating company and its promoters as two distinct entities are called “Corporate Veil”.
With time, many types of companies have evolved. We can study types of companies depending on nature of company, based on sources of finance etc.
Based on Liability:
- Company limited by Shares
- Company limited by Guarantee
Based on Works/Activities/Sources from which it can raise capital:
- Private Limited Company
- Public Limited Company
- One Person Company
- Nidhi Company
- Producer Company
- NBFC Company
- Section 8 Company
The Advantages of Having a Company Form of Business Organization:
A Private/Public limited company has many advantages over proprietorships and partnerships, as elaborated below.
1. Limited Liability
2. Legal Entity
Company is a legal entity in eyes of laws. It can buy assests, hire people, pay salary, earn income, incur losses and can sue or be sued in its name.
3. Perpetual Succession
Another important characteristic of a private limited company is perpetual succession. It is a popular saying that the directors may come and go the members may come and go, but the existence of a company remains forever.
4. Easy Transferability
Shares and ownership of company can easily be transferred.
6. Separate legal existence
Company has separate legal existence from its promoters.
Sole traders and partnerships pay income tax. Companies pay Corporation tax on their taxable profits. There is a wider range of allowances and tax deductible costs that can be offset against a company’s profits.
9. Raising Money from Public
Company can raise capital or fund from private source or from public.