The Benefits of Private Limited for Annual Filing in Chennai

The Benefits of Private Limited for Annual Filing in Chennai

Whether you're starting a new business or want to change your existing structure, incorporating a private limited company in Chennai is a relatively easy process. However, it's important to know what is involved before you begin.

Unlike other types of businesses, a private limited company is a separate legal entity from its owners and directors. It offers several benefits such as limited liability protection. Also, it allows you to easily raise money from third-party investors. You can also transfer your shares to another person. But, you must keep in mind that your private limited company's creditors cannot take their claims against your personal assets.

To incorporate a private limited company, you must first decide on the type of business structure you want. The Registrar of Companies (RoC) in Tamil Nadu will help you in choosing the right form. Once you've decided on a structure, you'll need to register the company.

Once you've registered the private limited company, you'll need to fill out the necessary documents. These include an Incorporation Certificate. This document will be issued by the Registrar of Companies, and contains a CIN number. You'll also need to provide a director's PAN and address proof of the company's registered office.

In addition to the above, you'll need to prepare an article of association. This is a legal document that defines the relationship between the shareholders, and the rules and regulations of your company. It also lays down the duties of management.

 

 

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