Famous Private Limited for Annual Filing in Chennai

Famous Private Limited for Annual Filing in Chennai

 

If you are looking to set up your business in Chennai, then you must first ensure that you meet the compliance requirements. This can help you in obtaining loan approvals as well as company law compliances.

All private limited companies in India must file annual returns with the Registrar of Companies (ROC). These returns must be filed within 60 days of the end of the financial year. Failure to file these returns is a punishable offense. The director of a defaulting office is also liable to a fine of up to 500,000 rupees.

A director of a private limited company must have a Director Identification Number, or DSC, which is similar to an Aadhaar. He must also submit a Digital Signature Certificate, or DSC, which allows him to sign documents in digital form.

Every private limited company must hold an Annual General Meeting every year. During this meeting, directors will remunerate members and approve the financial statements. In addition, an auditor will be appointed to examine the books of account. Generally, these meetings take place within six months of the end of the financial year.

New companies must hold their first AGM within nine months of the closing date of their financial year. It is also mandatory to notify the ROC at least seven days in advance.