Famous Private Limited for Annual Filing in Chennai
A private limited company is an entity with limited liability to its owners. This business model is ideal for a small firm as it allows owners to have limited liabilities in case the firm goes bust. It is also advantageous in terms of community support and a sense of confidence. However, all private limited companies are required to follow certain legal and regulatory rules.
One important requirement of a private limited company is that it must obtain an Incorporation Certificate. This certificate proves that a company was formed in India. The Certificate contains a CIN number.
An Annual General Meeting must be held every year in the registered office. 21 days' notice must be given prior to the meeting. It must be held on a day that is not a public holiday.
To be in compliance with various laws, a private limited company must also file a Profit and Loss Account and Balance Sheet. It must also submit a Director Report. These documents must be filed within 60 days of an annual general meeting.
Moreover, the directors of a private limited company must obtain a Digital Signature Certificate. This certificate enables the director to sign documents electronically.
After obtaining the above requirements, a Private LimitedCompany must then apply for PAN. All information provided by a company must be correct. If a company fails to provide accurate information, it can be subject to heavy penalties and even removed from the Registrar of Companies.