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Private Limited company – Post-incorporation compliances

Some of the Post-incorporation compliances to be done by the company are provided below:

  1. Maintenance of a registered office

Companies not having filed e-form INC 22 for registered office at the time of incorporation are required to establish their registered office and file form INC-22 within 15 days of incorporation.

  1. Affixing a board outside registered office

Every company has to affix a board outside its registered office containing the Name, CIN and address of the registered office.

  1. Letter Heads:

The letter head of the company should contain:

  • Registered office name & address;
  • CIN;
  • Email-ID;
  • Telephone;
  • Website (if any);
  • Fax etc.

4. Holding 1st Board Meeting

It is a mandatory requirement of the Companies Act to appoint first auditor of the company within one month of its registration therefore, the company is required to hold its 1st board meeting within 30 days of incorporation to consider the following matters:

  • Taking on record the Certificate of Incorporation/ maintain the copies of Incorporation documents,
  • Noting of Registered Office address and 1st directors
  • Approval of preliminary expenses,
  • Approval for opening of a Current Account,
  • Appointment of 1st Statutory Auditors,
  • Approval of Common Seal (if opted),
  • Authorization for Statutory registrations.
  • Adoption of pre-incorporation contracts/agreements, (if any)

5.  Registrations under other Acts

Depending on the nature and size of the business, registrations are applied for VAT, Service tax, Import Export Code ESI, PF and other allied laws.

6. Opening of Bank Account

After the company receives its PAN, the company shall open a Current account and the promoters should contribute the subscription money to this account.

7. Inward Remittances from Non-Residents

In case the subscribers are Non-residents, the share subscription money comes through Inward remittance. The procedure to be followed in this case is as follows:

  • Reporting of KYC and Inward remittance within 30 days to the Authorized dealer bank
  • Filing of ARF (Advance Remittance Form) within 30 days from the date of inward remittance to the RBI using EBIZ portal,
  • Generation of UIN after approval of ARF
  • Filing of Form FC-GPR with RBI within 30 days from the date of issue of share certificate.

8. Issue of Share certificates

Company shall issue Share Certificates to the subscribers of Memorandum within 2 months from the date of incorporation and after the share subscription money is received through proper banking channel.

9. Payment of stamp duty

Stamp duty is paid within 30 days of issue of share certificates.

10. Maintenance of Minute books and Registers

It is mandatory under Companies Act to maintain minute books, statutory books and registers of members indicating separately for each class of equity and preference shares held by each member residing in or outside India; register of debenture-holders and register of any other security holders.

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