Private Limited Company

ANY TWO OR MORE PERSONS WHO ARE DESIROUS TO START THEIR OWN BUSINESS OR WANT TO ENTER IN THE CORPORATE WORLD WITH THE PARTICIPATION OF THEIR FAMILY MEMBERS OR THEIR CLOSE FRIENDS WITH WHOM THEY FEEL MOTIVATED TO WORK HARD CAN CHOOSE A PRIVATE LIMITED COMPANY  TO START THEIR BUSINESS IN CORPORATE WORLD…

A COMPANY COMES INTO EXISTENCE IS GENERALLY BY A PROCESS REFER TO AS A INCORPORATION OF A COMPANY

PRIVATE LIMITED IS A VERY INTERESTING CONCEPT IN BUSINESS WORLD WHERE WITH THE HELP OF YOUR INNOVATIVE MIND,, HARD WORK AND VERY MINIMUM CONTRIBUTION YOU CAN STEP INTO CORPORATES .

THERE ARE NUMBER OF BENEFITS DERIVED BY INCORPORATING A PRIVATE LIMITED COMPANY:

1.) LIABILITY IS LIMITED

2.)TAX BENEFITS

3.) GOVERNMENT INTERVENTION IS LESS

4.)PERPETUAL SUCCESSION

5.) NO NEED TO DISCLOSE LOTS OF INFORMATION TO OTHER PEOPLE.

6.)MINIMUM NUMBER OF DIRECTORS.

7.)MINIMUM NUMBER OF SHAREHOLDERS.

8.) EASY TO FORM.

FOR MAINTAINING A PRIVATE LIMITED COMPANY IN INDIA THERE ARE SOME MANDATORY COMPLIANCES WHICH HAVE TO COMPLY BY EVERY PRIVATE LIMITED COMPANY WHICH IS REGISTERED IN INDIA OTHERWISE NON COMPLIANCES ATTRACT HEAVY PENALTIES AND EVEN IN SOME CASES DISQUALIFICATION OF THEIR DIRECTORS OR STRIKING OFF OF COMPANY BY REGISTRAR OF COMPANY ON ITS OWN .

THE LIST OF ANNUAL COMPLIANCES WHICH ARE APPLICABLE ON A PRIVATE LIMITED COMPANY ARE AS FOLLOWS:-

  • FILING OF INCOME TAX RETURN IN FORM ITR-6 WITH INCOME TAX DEPARTMENT ON OR BEFORE DUE DATE.
  • FILING OF FINANCIAL STATEMENT ANNUALLY IN FORM AOC-4 WITH THE MINISTRY OF CORPORATE AFFAIRS ON OR BEFORE DUE DATE.
  • FILING OF ANNUAL RETURN IN FORM MGT-7 WITH THE MINISTRY OF CORPORATE AFFAIRS ON OR BEFORE DUE DATE.
  • CONDUCTING AN ANNUAL GENERAL MEETING IN A PROPER MANNER EVERY YEAR AS PER COMPANIES ACT,2013.
  • MAINTING ALL THE STATUTORY REGISTERS OF COMPANY AS PER COMPANIES ACT,2013.
  • ALL COMPANIES HAVING GST NUMBER HAVE TO FILE THEIR GST RETURNS TIMELY .

 

  • ALL COMPANIES WHICH ARE REGISTERED AS A PRIVATE LIMITED COMPANY ,THEY HAVE TO APPOINT A FIRST AUDITOR WITHIN 30 DAYS OF INCORPORATION.

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