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Producer Company to be Incorporated under Companies Act, 2013
Producer company was introduced to promote agriculture. As we all know India is famous for agriculture. Majority of the people are depending upon agricultural productivity to carry forward their livelihood. Increase in agriculture helps for reduction of poverty and for promotion of trading.
The process of incorporation is similar to a private limited company. Incorporation gives you a professional status and also Registering the Trademark of your company will help you to safeguard your identity and restrict others from using it.
Advantages on Incorporation of Producer Company
Tax Free & Exemption
Government provided lots of exemption and tax free facilities for producer companies. To promote the primary producers 100% tax free facilities are also available on certain categories of fields.
Easy Loan Facility
The availability of loans for the Producer Companies are wide in nature and easy sanction of loans from financial institutions. NABARD (National Bank for Agriculture and Rural Development ) loans are provided for long term starts from 18 months and maximum upto 5 years.
Bonus Benefits
This type of company gives you a special type of benefit for bonus which is not available in any other company. Bonus will be given for the members of the company based on the same share proportions.
Limited Liability
The liability of the company is limited. The personal assets of the members will not be used even for unpaid debts. If the company is facing financial crisis only on the profit earned, shareholding, and assets of the company will be used to pay back their loans.
Documents required for Incorporation of Producer Company
The following documents and requirements to register your Producer Company,
Aadhar / Voter ID / Driving licence / Passport of Directors and Shareholders.
The Address proof of the Directors, shareholders along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.
The photos of the respective Directors , shareholders and designated authorities should submit for the clarification and proof of the concerned person.
The PAN card of the respective Directors, shareholders and designated authorities of the company.
Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing the Register of Companies.
No objection certificate by the owner / landlord must be enclosed.
Process of Incorporation of Producer Company
Frequently Asked Questions
5 lakh is the minimum capital for incorporation of a procedure in your company.
Minimum of 10 members and no maximum limit.
Yes, you are eligible to get loan under NABARD.
National Bank for Agriculture and Rural Development is mainly for providing financial support for the farmers by providing loans in the long term.
Yes , handloom falls under a producer company. You are eligible to incorporate your company. For any queries or consultation contact our National Filings.
If you have any further queries, get our experts’ opinion. For free consultation Contact our National Filings to resolve all your queries.
