Why is important to do Annual Compliance of Private Limited Registration?
Financial Year 2020-21 is over and all the founders of Pvt Ltd Company Registration would be gearing up for challenges of their business registration would be facing in Financial Year 2020-21 But many co-founders ignore the fact that their Pvt Ltd Company Registration needs to complete compliance for their Pvt Ltd Company Registration after every financial year. Not doing ROC Compliance and Annual Compliance of Private Limited Company Registration owned by them can result in serious repercussion for the business registration as mentioned below.
Difficult to raise bank loan: If Annual Compliance of Private Limited Company Registration is not done than no banks or financial institution will not sanction loan to the Private Limited Company Registration. Do not get yourself in a situation wherein you are unable to raise bank loans for expansion of your business after year of hard work and sweat.
Heavy Penalty: Not doing Annual Compliance of Private Limited Company Registration results in levy of heavy penalty for the directors of company registration.
Legal Action: Not doing Annual Compliance of Private Limited Company Registration results in Legal Action against director of the company registration. In fact government has off late become very strict on taking action against the directors of company registrations who does not do Annual Compliance of Private Limited Company Registration.
Pvt Ltd Company Registration may get strike off: Not filing IT Returns of Private Limited Company Registration not doing ROC Compliance can result in striking off the company.
If you want to start new company as Private Limited Company Registration.
If you want to avail bookkeeping services and accounting services.
If you want to do ROC Compliance and Annual Compliance of Pvt Ltd Company Registration.
As per a recent study, only 5% of the Private Limited Company Registration or other form of new company registration succeeds. In fact as one of the leading Company Registration Consultant, we have done company formation of many Pvt Ltd Company Registration and only 10% of them are actually doing full time business and are growing. Of course there are many other promoters of company registration who are working very hard to make their business registration a success and we, as accounting service providers, are standing firmly behind them in this quest.
This article is about remaining Pvt Ltd Company Registration, who are currently not doing any business in their Pvt Ltd Company Registration.
If you are owner of a Private Limited Company Registration and currently your business registration is not doing as well as expected, what are your options:
Enough of Entrepreneurship: If you feel that new company registration and start-up is not for you, there is nothing wrong in it. Kudos for trying and you will be happy thinking that atleast you tried. But do not behave irresponsibly and hire an accounting service provider or company registration consultant for closure of Private Limited Company Registration. Though the cost is slightly on the higher side but it gives you peace of mind and keep you away from legal tangles also.
I will live to fight another day:
We have seen many entrepreneurs or founders of new company registration who took a break, collected some funds, got financial stability, tweaked business model or got new idea, changed their partner and came back with a bang!. We have seen many such Private Limited Company Registration doing exceptionally well.
For such entrepreneurs, it is very important to continuously do ROC Compliance and Annual Compliance of Private Limited Company Registration. Annual Compliance of Private Limited Company Registration does not take cost much and can be done by any accounting service provider. This will ensure that once you are back, your company registration has history of few years which increases the viability of your company registration.
If you have no money for Closure of Private Limited Company Registration and you are also not sure whether you want to again some back to exciting but unpredictable world of new company Registration, hire a company registration consultant to transfer the Private Limited Company Registration to someone else. Of course it is important that your Private Company Registration has done all annual compliance properly.
What are the steps for filing Annual ROC Returns of Private Limited Company Registration