The Benefits of Private Limited for Annual Filing in Chennai

 

Several reasons exist for choosing to incorporate your business as a private limited company. Some of the benefits include limited liability, community support, and flexibility. Nevertheless, it is imperative to follow the correct procedure to ensure the success of your venture.

The first step involves filing a simple form. This is usually the same for all private limited companies. It can be either an e-form or a hard copy. Once this is completed, the Registrar of Companies (ROC) will issue a certificate of registration.

The second step is to obtain a Director Identification Number (DIN). Every director of a private limited company must be given a DIN. Obtaining a DIR-3 may seem like a hassle, but it is necessary. If your company fails to obtain a DIR-3, your company's status on the ROC will be tarnished.

In addition to getting a DIR-3, every director of a privatelimited company must submit a digital signature. A digital signature is an online proof of identity. You can also submit a document such as your passport.

One of the most important steps of starting a private limited company is to file an annual return. Your company must file its annual returns before the last date of the month. Failure to file a return within the time limit can lead to fines.

Using the right tools to prepare the documents can make your job easier. Use a professional for any other documentation and the corresponding compliances.