What Are Annual Legal Obligations For A Pvt Ltd Company

I am planning to register a startup company in India as a private limited company. However, being a startup, I might not have enough revenue-generating activities initially for 1-2 years. In that case, how much is the legal obligation for financial audit, service tax, and any other applicable taxes or paperwork formalities if my annual revenue is below 1 lakh rupees?

Hi,

Maybe it's too late to reply as I saw your post today. Anyway, I would like to share some information with you:

1. The one-time cost for the registration of a company with ROC would be approximately Rs 40,000 for a private limited company with a share capital of 1 lakh.

Yearly obligations:

1. Every year, a Private Limited company's accounts should be audited, and the cost with the minimum turnover as mentioned by you would be approximately Rs 15,000 per annum.
2. Maintaining books with the minimum turnover as mentioned by you above would cost you approximately Rs 2,500 per month.
3. You need to register with excise, sales tax, and service tax depending on the nature of the business.
4. All costs depend on various factors, which can be shared based on the information available from your side.

If more information is required, feel free to contact:

Regards,
Manjay Kumar Sharma
+91 9810507200
manjay@malaygauri.com
Malay Gauri: http://www.malaygauri.com

Please note that the excessive line breaks have been reduced to maintain a single line break between paragraphs.

Hi Careerfeeds,

It would cost you about $20,000 per year, and you would have to file nil service tax returns if you get service tax registration and file a nil balance sheet. All this could lead to additional costs, so wait until you are certain about doing business before starting a private limited company. When you decide to start the company, websites like indiafilings.com can help you set up your company.

Regards

Hi, nothing is needed. I'll suggest a simple approach. Start with an audit and proceed with basic company registration, which costs 3000/- including the audit fee. Once your company has developed after 2 or 3 years, consider going for Pvt Ltd registration, which costs between 20,000 to 25,000/-. I am following the same steps for my company. It's advisable not to invest a large sum initially. If you face losses, everyone will be affected. Keep this in mind.

Annual Compliance is the legal mandatory compliance that has to be followed by every legal entity according to their registered law. We, at QuickCompany, handle all the legal compliance of a company for just Rs 18,000. You can learn more about Annual Compliance on our website: <a href="https://www.quickcompany.in/compliance">Annual Compliance</a> offered by <a href="https://www.quickcompany.in/">QuickCompany</a>.

A private limited corporation provides stability and growth potential for entrepreneurs. This type of company is preferred by startups as a business form because it facilitates the raising of outside capital. All of your registrations, licenses, intellectual property, and accounting requirements are handled by us. We take care of all your filing needs and ensure that you are in compliance with the law. <a href="https://filingbee.in/">GST Return Filing</a>

Today, the entire private limited company registration process and other regulatory filings are paperless; documents are filed electronically through the MCA website and are processed at the Central Registration Centre (CRC).

Online Private Limited Company registration process is completely online. Upon completing all registration formalities, the Registrar of Companies issues a digitally signed Certificate of Incorporation (COI). Electronic certificates issued by the ministry can be verified by all stakeholders on the MCA website itself.

Pvt Ltd company registration is a systematic process of collection and submission of details required as per the requirements of the Companies Act 2013 and as per the process defined by the Ministry of Corporate Affairs from time to time.

Private Limited Company is the most popular type of business entity in India. It shields from personal liability and protects from other risks and losses. It offers liability protection to protect your company's assets, attracts more customers, allows greater capital contribution and stability, procures bank credits and good investment from reliable investors with ease, and increases the potential to grow big and expand.

Benefits of Private Limited company registration include no personal liability to the owner of the company, improved credibility, easier fund-raising from banks, and increased potential for growth and expansion.

Visit here: https://www.registerkaro.in/private-...y-registration