Post Incorporation Compliance for a Private Limited Company in India



Post Incorporation Compliance for a Private Limited Company in India

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As an entrepreneur, you may have gone through the hassles and difficulties of the company registration process. But, registering your business only marks the beginning of your journey towards growth and success. There are numerous statutory compliances that need to be fulfilled post incorporation of your business. Ignoring these compliances might lead to severe penalties and fines on your business. Hence, it is essential to have an in-depth understanding of these post-incorporation compliances for a Private Limited Company in India.

The first post-incorporation compliance that a Private Limited Company should fulfil is to apply for the PAN card, which is mandatory for all businesses in India. You can also file Form INC-20A, which is a declaration of commencement of business for your new entity. Upon successful approval, you will receive a permanent account number (PAN) and tax deduction and collection account number (TAN).

Within 30 days of the date of incorporation of your company, you must issue share certificates to all the subscribers to the memorandum of association. You must also file a form SH-10, along with the details of the shares allotted to each subscriber and their names.

In addition, the Company must also file an e-form INC-20A with the ROC to inform that it has commenced its business. You must also affix your signature in the register of the company to validate all the documents. You must also maintain all the statutory registers at your registered office as per the provisions of the Company Act. You must also keep a copy of the certificate of incorporation for future reference.

 

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