The Benefits of Private Limited for Annual Filing in Chennai

Getting registered as a private limited company is the best option for doing business in Chennai, Tamil Nadu. It is a simple process and offers many advantages over other types of business.

The first advantage is that you get a legally incorporated entity. A private limited company provides you with a solid foundation for your business. Besides, you can raise money more easily and attract creditors. You can also benefit from a low-cost registration.

In addition to that, a private limited company gives you the opportunity to focus on long-term planning. It is an ideal vehicle for businesses that cater to local customers. However, it is important to understand that there are certain legal requirements to register.

Private limited companies are regulated by the Ministry of Corporate Affairs (MCA). To register a private limited company in Chennai, you must meet a few basic steps. First, you must submit a Memorandum of Association (MOA). This document is legal and lays down the guidelines for the management and relationship with shareholders. Specifically, the article of association provides information on share capital, voting rights, powers of management and other objectives.

Once you complete the initial registration, you will be issued a certificate of incorporation. The Registrar of Companies will issue a certificate to your company, along with a copy of the ROC and other necessary documents.

Then, you must follow the various compliances required by the MCA. These include filing annual returns and audited financial statements. Failure to comply can lead to a number of penalties.