The Benefits of Private Limited for Annual Filing in Chennai

The Benefits of Private Limited for Annual Filing in Chennai

 

There are many benefits of having a private limited company. In addition to the fact that it provides a legitimate and legal entity, it gives investors and customers confidence. It is also an effective means of raising capital from third party investors, and it provides a professional image to businesses.

The Registrar of Companies, Chennai, Tamil Nadu has made it easier for small businesses to incorporate by making the process quick and painless. However, it is important to register your business with the Registrar of Companies before you can carry out your business activities.

One of the advantages of incorporating a privatelimited company is the tax savings that can be realized. If the company makes profits, it can claim corporation tax relief. This is a significant saving to your business.

Another benefit of a private limited company is the tax rebates it can offer its shareholders. Having a private limited company allows you to make dividends to your shareholders, and you will pay taxes on this money at a lower rate.

Annual filing is mandatory for all businesses. It is a good idea to consult a professional for this task. Failure to file your annual returns can result in severe penalties. Failing to file can put your company in default and subsequently inactive.

A few steps should be followed before you can file the most obvious of all - the Annual Report. First, you must check the statutory registers of your state, which are kept by the government. These include the Register of Members, the Register of Directors and the Register of Shareholders.