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 an entity that has a unique legal identity. In order to incorporate, you will need to submit certain documents and follow some annual compliances. These are required in order to ensure the smooth functioning of your company.

Whether you are a new entrepreneur or an experienced one, it is always a good idea to take professional advice when dealing with the annual compliances of a private limited company. You may not know all the legal requirements, but by getting professional help, you can avoid unnecessary penalties and confusion.

If you plan to incorporate a business, you will need to file several documents with the Registrar of Companies. You will need to provide details of your company, such as the name, location and registered office address. You will also need to obtain a PAN (Personal Account Number) for each director in your organization.

You will also need to open a current bank account to carry out your day-to-day business transactions. You will need to show the proof of your residence, such as a bank statement or a telephone bill.

Then you will need to file the annual return of your private limited company with the Registrar of Companies. This document is important because you will need to disclose any directorships you have held in other companies. Failing to disclose this information in a timely manner can result in heavy penalties.

In addition to filing the annual return of your private limited company, you will need to ensure that you maintain your statutory registers. These registers include the list of shareholders, the board of directors, the minutes of meetings and financial statements.