Several post-incorporation compliances for companies that you should know about

Several post-incorporation compliances for companies that you should know about

More and more Indian wants to be entrepreneurs mainly from the young generation. This burgeoning spike would lead to the expansion of our economy. The government of India is also supporting such incorporation of companies by making the process efficient and easy. Nonetheless, entrepreneurs want to know about what follows after the company’s incorporation.


How does the process of incorporation of company work in India? The work do not end with online registration of private limited company in India. There are a few post-incorporation compliances to take care of by the company. This blog would take you through the process of incorporation of the company and compliances the comes afterward.


Required documents for incorporation of a company in India.


Private limited company (PLC) incorporation needs at least two directors and shareholders, along with the documents given below;


– Latest passport-sized photograph.

– Duly filled application form.

– ID card such as Passport, Voter ID, Aadhar card, PAN card, ration card, or driving license.

– Bank statements from the previous two months.

– DSC (digital signature certificate) of proposed directors.

– DIN (director identification number).

– Proof of premises of the business – water, gas, electricity, or phone bill. Rental agreement (if rental), NOC from the owner, property tax receipt, property registration certificate.


Incorporation of company in India – process.


– First, entrepreneurs are obliged to determine the name of their business that complies with the company naming laws. Then they are obliged to send for name approval to the MCA via SPIce+ form A.

-Once approved by the MCA, business owners should duly fill and submit SPIce+ form B. They are required to upload copies of the supporting documents stated above.

– Entrepreneurs are obliged to meet with legal experts and initiate preparing their MoA and AoA.

– Once all the required documents as per the companies act, 2013 are ready, entrepreneurs should complete the registration process online. They are required to pay the necessary processing fees online according to their state’s slab.

– The MCA officials would then inspect and review all your documents and process your application for incorporation. If satisfied, they will allocate you a certificate of incorporation within a week.

-Once the entrepreneurs receive their registration certificate, they are allowed to apply for the company PAN card and TAN. Also, business owners can apply for employee state insurance and provident fund registration online. The MCA portal permits entrepreneurs to apply for a GST registration simultaneously for speedy approval.


Post-incorporation compliances for the companies in India.


Once the start-up is incorporated, there are numerous compliances measures it should abide by to ensure smooth operations, as given below;


– Intimate registered office’s address to the MCA if the address at the time of incorporation is distinct from the office.

– Carry out the company’s first board meeting at least within one month of incorporation.

– Appoint the first auditor and convey information concerning the same to MCA via form ADT 1.

– Open the bank account within two months of incorporation.

– Issue share certificates within two months of the company’s incorporation.

– According to section 10A, after incorporation, a business can initiate its operation only after submitting form INC-20A with the MCA within six months of incorporation.

– Carry out board meetings frequently and prepare, regulate and store details concerning its minutes.

– Companies should submit form MSME every six months (if applicable).

– Companies registered under PF, ESI, and having GST registration should submit their returns on either a monthly or quarterly basis as required. Also, companies with TAN should deduct and deposit the required TDS amount every month. Such companies are obliged to file their TDS returns on time every quarter as well.


Compliances that need to be followed annually.


– Submit MGT-14 with MCA if the company passes any resolution.

– For reporting deposits and advances made by the company, use form DPT-3.

– Update and submit all the KYC details of directors via form DIR-3.

– Prepare and file minutes of board meetings, EGMs and annual general body meetings.

– Prepare and update statutory registers, including shareholders, members’, and register of charge.

– Carry out a statutory audit according to the companies act, 2013 (if applicable).

– Perform tax audit as per the income tax act, 1961 (if applicable).

– Carry out and report the GST audit’s findings as per the GST act, 2017 (if required).

– Prepare and submit financial statements with the MCA through form AOC-4 and MGT-7.


Optional registration post-incorporation.


– Export-import registration to broaden the business into foreign markets.

– MSME registration if the company is eligible under the MSME act. This would help the business to get various government benefits such as subsidies, loans, and welfare schemes. The MSME Samadhan scheme allows businesses that submit a complaint to recover dues from clients.

– Trademark registration if the business intends to secure its brand identity and has a sui generis name or logo as a product distinguisher.

– Start-up India registration to get benefits from the income tax department for stipulated time intervals.

– FSSAI registration if the business is in the food-related service or product.  

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