The Benefits of Private Limited for Annual Filing in Chennai

The Benefits of Private Limited for Annual Filing in Chennai, Tamil Nadu



If you are planning to incorporate a business in Chennai, Tamil Nadu, then you must be aware of the advantages of a private limited company. These advantages include limited liability protection, a legal existence and a solid corporate governance.

Private limited companies are regulated by the Ministry of Corporate Affairs. As a result, you must follow the compliances of the Companies Act of 2013.

All Private Limited Companies in India are required to comply with certain provisions. These are outlined in the Company's Memorandum of Association. The document explains the relationship between the company and its shareholders, as well as its objectives.

In order to get registered with the Registrar of Companies, you must apply for a Directors Identification Number (DIN). This number is similar to the PAN and is necessary for all directors.

To meet the requirements of the Registrar of Companies, you must hold an Annual General Meeting every year. For this, you must give at least 21 days' notice. It must be held during working hours, and not on public holidays.

Before holding an AGM, you must circulate an annual financial statement to the members. A financial statement must be filed with the Registrar of Companies, if your company's sales exceed Rs.1 crore.

An individual director of a private limited company must have a valid residential address. They must also submit an identity proof and a passport-size photo.

To register a private limited company in Chennai, Tamil Nadu, you must fill in Form SPICe+. This is a simplified form introduced by the ministry of corporate affairs. Using this form reduces the paperwork and time.

 

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