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Register your Producer Company with our best quality and highly professional services of company registration, available to you at the most competitive prices. Subscribe to our all inclusive package and our dedicated team of paralegal experts will assist you from beginning to the end of the process of Produce Company registration.
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(All you need to know)
Producer Company means a corporate body having objects or activities as specified under the Act. It consists of a group of people involved in the production of primary produce or having one or more objectives relating to primary produce. A producer company combines the best features of a cooperative society and a Private Limited Company, offering collective benefits to its member producers under a robust and definitive legal framework.
Only business entities registered as Private Limited Companies are eligible for Producer Company registration in India. However, the names that these companies are incorporated with, shall end with the words “Producer Company Limited”. Individuals and institutions involved in Primary Production activities can come together and form a Producer Company in India.
What would the proposed business activities be?
What amount of capital must be invested?
What benefits will be offered to the members?
Who would be the first directors of the company?
What should be the name of the company?
What should be the registered address of the company?
Following Documents are required :-
Taxtorium can help you in obtaining Producer Company Registration in India. All you need to do is place an online order with us and we shall help you start it in no time. Your order shall be processed by our highly qualified team who shall ensure that the best quality services are provided to you. As mentioned earlier, our process is completely online so there is no need for you to visit our office. Please do contact us for any clarifications you need.
Once we receive your request an expert reaches you, explains the whole process, and collects the necessary documents. The documents can be submitted online through our Taxtorium Website. You shall have to ensure that the documents are authentic and updated.
We will apply for DIN (Director Identification Number) and DSC (Digital Signature Certificate) on your behalf. DIN is issued by the MCA and DSC is a digital signature used for all e-filing processes. This step can be skipped for the Director who already has DIN and DSC.
Now, you need to choose and suggest 3 different names to the MCA for Your Indian Subsidiary Company. Out of these 3 names, only one will be accepted for your Company by the MCA. The proposed names must be unique and not matching to the names of other already registered companies.
We will prepare MoA and AoA. The MOA being the constitution of the company and the AOA being internal rules are the most important documents that are filed along with the Company Registration Application.
It takes between 15-25 days to form a Producer Company and get the incorporation certificate. This certificate declares that a company has been created and it mentions the company identification number (CIN) as well.
Congratulations! Your work is done. Once your company is incorporated, we shall send you all the documents and DSCs.
Call us at: +91 820 956 9514 or
Email us: info@taxtorium.com
What is a Producer Company?
Producer Company is a registered company defined under the Companies Act of 2013. It is a special business model. In a registered Producer Company, only certain categories of persons, known as “primary producers,” can become shareholders in the company.
What is the maximum number of directors and members in a Producer Company?
Although a Producer Company is of the nature of a Private Limited Company where the maximum limit on the number of shareholders is 200, there is no such restriction or maximum limit on the number of members in a Producer Company. As far as the directors of Producer Companies are concerned, they cannot have more than 15 directors at a time, except in the case of an inter-State co-operative society incorporated as a Producer Company, where the company may have more than fifteen directors for a period of one year from the date of its incorporation as a Producer Company.
Is it mandatory to appoint an auditor in a Producer Company?
Yes, like a private limited company, it is mandatory for a Producer Company to maintain account books and get them audited internally, by a Chartered Accountant appointed in the company. Such audits shall be conducted at intervals specified in the articles of association of the company. The auditor of a Producer company shall be appointed every year at the annual general meeting of its shareholders.
What are the tax benefits for a Producer Company?
The Income tax Act, 1961, does not provide any exclusive tax benefits that can be applicable to all producer companies in India. However, farmer tax exceptions have been provided for agricultural income of a producer company, earned from certain kinds of agricultural activities only.
Are the shares of a Producer Company transferable?
No, the shares of a Producer company cannot be transferred to entities other than another member of the same company after seeking an approval from the Board members, or the nominee of a member of the company after his death.
Why do farmers prefer Producer companies for doing their business?
Producer companies are the preferred choice of business model amongst farmers because producer company areas of operations are not restricted to a particular state as in the case of a Cooperative society. Moreover, it has lesser government intervention in a running company and can also access financial institutions for raising money for day-to-day expenses requirements.
Is the Producer company a private company?
Yes, Producer companies are private limited companies.
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