The Benefits of Private Limited for Annual Filing in Chennai

The Benefits of Private Limited for Annual Filing in Chennai

 


A private limited company is a separate legal entity that exists in the form of a business. It is governed by the Companies Act, 2013, which is an Act of the Indian Parliament.

The benefits of a private limited company include limited liability, flexible management, and easy transfer of shares. The tax benefits of a private limited company are also significant. The income of a private limited company is distributed among the shareholders according to a predetermined ratio.

The process of incorporation is relatively easy in India. To begin the process, a minimum of two people must be registered as directors and a bank statement must be provided.

Various annual compliances must be carried out in order to operate a private limited company smoothly. Failure to comply can have major consequences. It may result in the removal of the company's name from the MCA register. It can also lead to the permanent disqualification of the company's directors.

Various annual compliances must be carried out in order to operate a private limitedcompany smoothly. Failure to comply can have major consequences. It may result in the removal of the company's name from the MCA register. It can also lead to the permanent disqualification of the company's directors.

A private limited company must file audited financial statements every year. It must also hold an Annual General Meeting (AGM) before September 30th. It must be held at the company's registered office, during the working hours. The notice must be given at least 21 days before the meeting.

In addition, it is mandatory to obtain a digital signature certificate from an authorized agency for all the directors. It is important to update statutory registers, including the Register of Members (ROM) and the ROC file

 

 

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