Producer Company

Producer Company

A Producer Company is a legally recognized body of agriculturists/farmers that is working with main objective to improve the standard of their living, and ensure a good support for their income and profitability. This company can be formed by 10 or more individuals; or 2 or more institutions; or both; having their main objectives as either procurement or production or harvesting or grading or pooling or handling or marketing or selling or export of the primary produce of their members. GrowBizz India helps you to register your Producer Company with complete registration process. Our professional team helps you easy and quick registration of Producer Company with online documentation, filing and registration with MCA/ROC.

Advantages of Producer Company

  • A producer company can be formed having objective of procurement or production or harvesting or grading or pooling or handling or marketing or selling or export of primary produce of their members
  • Separate legal existence in the society with limited liability
  • Perpetual succession, means it can be closed by legal process of dissolution
  • Easy to incorporate and maintain
  • Producer companies offers greater credibility as compared to unregistered producer’s organizations
  • Easy to maintain the board of management of the company
  • A producer company can own and enjoy a property in its own name
  • A producer company can accept deposits in form of RD/FD as well as it can provide loans to farmer members
  • The Income Tax Act, 1961 under section 10(1) exempts the agricultural income

 

Documents required for Registration

  • Pan Card of directors and shareholders
  • Address Proof of directors and shareholders (passport / election card / ration card / driving license / aadhaar card)
  • Residential Proof of directors and shareholders (Electricity bill / Telephone bill / Bank Statement / Mobile bill)
  • Passport Size photographs of directors and shareholders
  • Rental agreement between Company and owner
  • Copy of utility bill of place of business
  • No objection certificate from owner
  • Unique business name
  • Email-ID and Mobile numbers of all directors and shareholders

Disclaimer:

  1. Minimum 10 or more individuals, being a producer, or any two or more producer companies, or combination thereof, are required to form Producer Company
  2. All Producer Company shall have at least 5 directors but not more than 15 directors
  3. Minimum Paid-up capital must be Rs. 5 lacs
  4. The tax benefit and exemption to a producer company is totally depending upon the activity it carries on
  5. Additional details or information or documents other than mentioned in above list; may be called if required.