What Are the Post Incorporation Compliance for a Private Limited Company in India?


What Are the Post Incorporation Compliance for a Private Limited Company in India?

 "Call Our Business Plan Experts at +91-72999-72500"

Getting a company registered is just the first step of setting up your business. You will need to comply with many more statutory requirements for the smooth functioning of your business.

The post-incorporation compliance for a Private Limited Company are varied and encompass all aspects of the company from its official registered office address to filings with the MCA.  

Non-compliance of these compliances can result in heavy penalties. Moreover, it can also degrade the credibility of your company, lose investors' trust, impact the authorities' outlook on your business and make your business susceptible to loss of loyal associates including employees.

To avoid any penalty you must ensure that your new venture complies with these post-incorporation compliances. This article will help you understand the important and mandatory steps that need to be taken by a private limited company after incorporation in India.

The first post-incorporation requirement is to open a bank account in the name of the company. This will help you route all commercial transactions of your company through the official bank account. This is an important requirement for a business to remain compliant with the Ministry of Corporate Affairs.

You must also file an e-form INC-20A to declare the commencement of business within 60 days of receiving subscription money for your company. Without this declaration, your company will not be allowed to start its business or take loans.

Directors of a newly incorporated company are required to disclose their interest in other companies/LLPs/firms. This is an important compliance that helps the board in taking transparent decisions and to easily identify related party transactions for the Company.

You must also verify the location of your registered office within 30 days of incorporation by filing an e-form INC-22 with the ROC. If you change your registered office, then you must file an e-form INC-30 to update the same with the ROC.

 

Tel:+917299972500

info@filingpoint.com

Comments

Post a Comment

Popular posts from this blog

How to Register Annual Filing in India - A Step-By-Step Guide

Image
How to Register Annual Filing in India - A Step-By-Step Guide Every company registered under the Companies Act, must file their audited financial accounts and Directors Report with the Registrar of Companies annually. This process is called ROC Annual Filing and it's an essential part of any business in India.  The process involves several forms and documents that need to be filed with the ROC in a timely manner in order to avoid late filing fees. In this article, we'll take a look at the ROC Annual Filing process in detail and discuss some important deadlines to keep in mind. ROC Form AOC-4, which contains details and annexure regarding the Balance Sheet of the company, Profit & Loss Account, Compliance Certificate, Documents pertaining to the Registered Office Address, Shares and Debentures, and information about the Directors of the company. If you're running a One Person Company , you'll also be required to file your ROC Form MGT-7 annually. T...
Read more

What Are the Documents Required for Company Registration in India

Image
What Are the Documents Required for Company Registration in India When it comes to starting a new business, entrepreneurship is an exciting venture for any business owner. However, to ensure that the venture is successful, it's important for entrepreneurs to remain active in the 'legal game', especially when it comes to gathering and filing the necessary documents for company registration. As the process of company registration has shifted online, it's becoming even easier for entrepreneurs to register their businesses in India, the 3rd largest economy in Asia and 2nd biggest consumer market. Documents Required for Company Registration The first step in registering a Company is to choose the right corporate structure that best suits your business needs. There are several types of companies, including Private Limited Companies , Public Limited Companies, One Person Companies, and Limited Liability Partnerships. Choosing the right business structur...
Read more

25 Low-Cost Small Business Ideas for Company Registration in India?

Image
25 Low-Cost Small Business Ideas for Company Registration in India? "Call Our Business Plan Experts at +91-72999-72500" Looking ahead to the future, the landscape of small businesses in India holds tremendous potential for innovation and growth.  Here is a curated list of 25 low-cost small business ideas that are poised to thrive in the evolving business environment: 1. Sustainable Products: Focus on eco-friendly and sustainable product offerings, meeting the growing demand for environmentally conscious choices. 2. E-commerce Reselling: Start an online store by reselling unique and niche products to a global market. 3. Remote Work Solutions: Offer services and tools that support remote work, including coworking spaces, virtual meeting platforms, and ergonomic home office setups. 4. Health and Wellness Coaching: Provide holistic health and wellness coaching, addressing physical and mental well-being. 5. Personalized Education: Develop pers...
Read more