Public Limted Company

Companies Act, 2013 defines public company as a company which is not a private company. Also, private company which is a subsidiary of public company shall be deemed to be a public company.

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Requirements for Incorporation of Public Limited Company

A Public Limited Company is a separate business entity that offers its shares to be traded on the stock exchange for the general public. Unlike a Corporation, Private Limited Company or an LLC, a public limited company is subject to strict compliance with the government. Public Company Registration is done under the Companies Act, 2013. Also, a Public Limited Company must present its financial reports and accounts publicly to maintain transparency.

  • At least one director should hold Indian Citizenship.
  • Minimum 3 and Maximum 15 directors.
  • Minimum 7 shareholders and no maximum limit.

Advantages and Registration

Advantages of Public Limited Company

  • Easy Transferability of Shares
  • Trust in public company due to transparency creates more credibility to the company
  • Most suitable for heavy investments
  • Many sources to raise funds
  • Can outweigh other companies in availing large projects
  • There is no cap on maximum number of members

Process for Registration of Public Company

  • Apply for name availability through SPICE+ form
  • Filing Spice+ form on MCA website with all the documents as mentioned above
  • ROC registers the company and issue the incorporation certificate (COI) along with the CIN of the Company. But the business cannot be started immediately after receiving the COI.
  • The business has to apply for a certificate of commencement within 180 days of the COI stating that all the subscribers have paid the subscription money through Form INC-20A.

Documents Required for Registration of Public Limited Company

  • PAN card (Mandatory)
  • Aadhar Card
  • Passport
  • Driving License
  • Voter Identity card

Setting up business

Private Limited company
Proprietorship
DIN
PAN
EPF

ROC Compliance

LLP ROC Compliance
OPC ROC Compliance
Company ROC Compliance
Closure of Private company
Closure of LLP

Direct tax compliance

Filing income tax returns
Chapter VIA deductions
Capital gains taxation
Taxation of business
NRI income

Indirect tax compliance

GST returns and due dates
Input tax credit claim
GST Refund
GST TCS
GST TDS

GST Returns and Due DatesGST-RETURN-FILING-AND-DUE-DATESsec8Sec 8