21 June 2011
Dear all I'm planning to set up a private company for HR consultancy. I'm being advised to instead start a partnership firm, due to numerous compliance requirements under companies act. Request you please to update me on legal requirements which a private company has to adhere to. Thank you.
21 June 2011
Pvt co is better than a firm, A pvt co additionally has to file annual return and balance sheet, profit & loss account once a year with ROC. Other requirement are same as that for a firm generally,,
22 June 2011
Thanks Ravikant for your answer. Are there any other specific audit or managerial requirements?
Further since I'll be operating out of my residence, can I use that as registered office address or would I have to necessarily rent an office premise??
22 June 2011
Yearly audit under companies act is compulsory. there are no other managerial requirement except in special circumstances like change in directors, address, etc.
One can easily use residential address as the registered address of the Pvt Ltd Co.,
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