Mandatory compliance requirement for a small private company

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Divya (Querist)
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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.

Ravikant

Ravikant (Expert)
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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,,

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Divya

Divya (Querist)
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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??

Regards,
Divya

Ravikant

Ravikant (Expert)
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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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