The Benefits of Private Limited for Annual Filing in Chennai

The Benefits of Private Limited for Annual Filing in Chennai



There are several advantages of forming a private limited company in Chennai, Tamil Nadu. Among them, one of the primary benefits is that it provides a legal identity for the business. This makes it possible for the owners of the private limited company to raise funds and attract creditors and financial investors.

Another benefit of incorporating a private limitedcompany is that it is more stable than other types of businesses. This is because the shareholders of a private limited company are not personally liable for the debts of the company.

Private limited companies are governed by the Companies Act, 2013. They must comply with the provisions of this Act and other legislations to continue their existence.

Firstly, a private limited company must be registered with the Registrar of Companies. To do so, all required documents must be submitted. The Registrar of Companies will then issue an Incorporation Certificate. This will contain a CIN number.

The next step is to record a mandatory annual MCA return. For this, the company must fill Part B of Form SPICe+. Also, the address of the registered office of the company must be clearly mentioned. This information is then entered into the statutory registers.

Annual compliance is one of the most important tasks for private limited companies. It includes a variety of different filings, from tax filings to adapting board meetings. These are important because they ensure that the company is in compliance with law. Failure to meet the filing deadlines can result in severe penalties.

 

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