Producer Company Registration
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Producer Company Registration @ ₹
- Salary Income
- Rent Income From One Property
- Interest Income etc.
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Producer Company Registration @ ₹
- Salary Income
- Rent Income From Properties
- Capital Gains or Losses
This pricing plan includes free consultation
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Producer Company Registration @ ₹
- All Income Covered in ITR-2
- Income From Business or Profession
- Interest Income etc.
- Income or Loss From Intraday Share Trading
- Income or Loss From Derivatives (F&O)
- Director/Patner in a Company/LLP
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Producer Company Registration @ ₹
- Salary Income
- Rent Income From Propeties
- Professional Receipts up to Rs. 50 Lacs
- Businesses Covered under Presumptive Taxation
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Know More
Producer Company
An Overview
A Public Producer Company is a specific type of company defined under the Companies Act, 2013 in India. It is formed to engage in activities related to primary production or promoting the interests of its members who are primarily engaged in activities such as agriculture, horticulture, animal husbandry, fishing, cottage industries, or other related activities.:
Nature of Public Producer Company: A Public Producer Company is established primarily for the promotion of the interests of its members engaged in primary production activities. The company can undertake various activities to support and market the products or services produced by its members, typically in the agricultural or allied sectors.
Ownership and Members: Members of a Public Producer Company are the primary stakeholders, and they must be engaged in primary production activities. These members can collectively participate in the company’s activities and decision-making processes.
Limited Liability: Similar to other company structures, members of a Public Producer Company generally have limited liability concerning the company’s debts and obligations. Their personal assets are protected from the liabilities of the company.
Capital and Shareholding: A Public Producer Company may issue shares to its members to raise capital. The shares are typically held by the primary producers engaged in agriculture, horticulture, animal husbandry, fishing, etc.
Regulatory Compliance: These companies are subject to compliance with the Companies Act, including maintaining proper accounts, conducting audits, filing annual returns, and adhering to the objectives specified in their Memorandum of Association (MOA) and Articles of Association (AOA).
Focus on Primary Production: The primary objective of a Public Producer Company is to promote the collective interests of its members engaged in primary production activities. This might involve marketing, improving production techniques, providing access to better resources, or facilitating fair prices for the products/services produced by its members.
For an accounting firm considering involvement or service provision to a Public Producer Company, understanding the specific needs and challenges faced by these entities engaged in primary production activities could be crucial. These companies might require accounting services related to financial management, compliance, cost analysis, or strategic planning to enhance their efficiency and sustainability
Information / Documents Required
General Documents / Informations Required from all assessees:
Identity and Address Proof: Directors, shareholders, and members need to provide identity proof (such as an Aadhar card, passport, voter ID, etc.) and address proof (such as utility bills, bank statements, etc.).
Director Identification Number (DIN): Directors need to obtain a DIN, which is a unique identification number required for individuals to become directors of a company.
Digital Signature Certificate (DSC): DSCs are required for digitally signing the incorporation documents.
Memorandum of Association (MOA): The MOA must define the company’s objectives, which, in the case of a Public Producer Company, would be related to promoting the interests of primary producers or engaging in activities related to primary production.
Articles of Association (AOA): AOA contains rules and regulations for the company’s internal management and operations.
Address Proof of Registered Office: Documents proving the registered office address of the company, such as a rental agreement, lease agreement, or utility bills.
Declaration of Compliance: A declaration by the proposed directors affirming compliance with all legal requirements for forming a Public Producer Company.
PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) Card: These are necessary for tax purposes and financial transactions.
No Objection Certificate (NOC): If the registered office is owned by someone other than the company, an NOC from the owner is required.
Board Resolution: A resolution passed by the promoters approving the incorporation of the company and authorizing the directors to act on behalf of the company.
Financial Statements: Initial financial statements showcasing the company’s estimated income, expenditure, and capital for the first few years.
Forms and Applications: Various forms prescribed under the Companies Act, such as Form INC-7 (for incorporation), Form INC-22 (for notice of situation or change of the registered office), Form DIR-12 (for appointment of directors), etc., need to be filled out and submitted.
Benefits
A Producer Company offers various benefits such as collective bargaining power for better prices, access to credit and resources, reduced operational costs through shared services, enhanced market reach, and improved infrastructure development.
A Producer Company allows its members to collectively address common issues like market access, procurement of inputs at a better rate, access to technology and information, better infrastructure, and reduced dependency on intermediaries.
Yes, a Producer Company can help in improving the income and livelihoods of farmers or primary producers by providing them with better access to markets, fairer prices for their produce reduced post-harvest losses, and access to modern technology and practices.
Through economies of scale, centralized purchasing of inputs, collective marketing, and value-addition activities, a Producer Company can improve the efficiency and profitability of its members’ businesses.
Yes, being a formalized entity, a Producer Company can access various government schemes, subsidies, grants, and credit facilities aimed at supporting agriculture, rural development, and primary production activities.
By pooling resources, expertise, and efforts, a Producer Company can provide its members with better access to credit facilities, modern technology, professional management, improved infrastructure, and greater resilience against market fluctuations.
Inquiry
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