Famous Private Limited for Annual Filing in Chennai

Famous Private Limited for Annual Filing in Chennai

 


Every year, thousands of companies enter the business world of India. Among these, one of the most popular legal structures is a Private Limited Company. These companies limit the owners' liability to the shares of the company. Often, they are believed to have better corporate governance. They are also viewed positively in the job market.

To begin with, entrepreneurs must decide the name of their new company. The name should follow the guidelines set by the Companies Act, 2013.

Once the name is finalized, the next step is to register the company. Various registration options are available. In Chennai, one of the easiest ways to get registered is through the One-Day Company Incorporation process with SPICe.

After filing the incorporation form, the Registrar of Companies issues a digitally signed Certificate of Incorporation. This certificate is important because it proves that a private limited company was formed in India.

A Private Limited Company is required to file annual compliances, including an Annual General Meeting and balance sheet. Filing the mandatory forms will ensure that the company remains in good standing with the Registrar of Companies. Failure to comply will result in a hefty fine.

It is also compulsory for directors of a Private LimitedCompany to submit a Digital Signature Certificate. Likewise, the Board of Directors must present a true financial picture to the shareholders.

In addition to these compliances, the company must also file its director report and Profit and Loss Account. All these forms are filed electronically through the MCA website.

 

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