Famous Private Limited for Annual Filing in Chennai

Famous Private Limited for Annual Filing in Chennai

 


If you are looking for a place to set up a business in India, Chennai is one of the best places to register your company. It has a long history of economic activity.

The government of India has announced several financial packages for start-ups and small businesses. Start-ups have emerged as a popular business model in Tamil Nadu. They develop a viable business model around an innovative product.

Companies that incorporate in Chennai have better opportunities for borrowing funds. Financial institutes also are more interested in lending to incorporated companies. However, a company must follow strict legal formalities.

Annual compliance is essential for every private limitedcompany. The board of directors must present a true financial position to shareholders. Failure to file can result in huge penalties. 

A Private LimitedCompany must file an annual return within 60 days of the Annual General Meeting. An Annual General Meeting must be held on a day that is not a public holiday. Normally, the meeting is held at the registered office location.

Each company must submit a balance sheet and profit and loss account. The Memorandum of Association defines the main objectives of the company and the relationship with its shareholders.

A company must also file its annual compliances, which include the Director Report, Annual Return, and Financial Statements. If a company fails to file, it can be barred from future business.

A company must comply with the regulations of the Registrar of Companies (ROC). The ROC maintains a database that reflects the status of a company. For this reason, it is essential to have a separate corporate identity.

 

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