Statutory Compliance that needed to be done after Company Formation

Posted by CA Pankaj Kumar Vats
In: GST Compliance
On 23 Apr 2024

Contents Covered

  • Checklist of Task to be done after Company registration Process is completed
  • Conclusion

1. Checklist of Task to be done after Company Registration Process is completed:

Registering a Private Limited company is simple task but it brings huge responsibilities on its Directors and Shareholders

Directors and Shareholders in the company should always ensure that the due compliance has been done on time.

Non compliance to Statutory Compliance may lead to several penalties and disqualification.

Here is a quick checklist in simple words that should be done immediately after Company Registration

Task 1: Opening of Bank Account of the Company

Task 2: Transferring the amount of Share Capital in the Bank Account of the Company

Task 3: A Sign Board needed to be placed at the Registered office of the Company, and it should contain details such as Name of the Company, Address, Phone Number, Email ID, CIN of the Company and other details

Task 4: Filing of e-Form INC 20A. This e-Form is needed to be filed before the commencement of business of the company. And it should be filed within 6 month of the date of Incorporation.

The documents and information needed for filing of INC 20A are as follows:-

  1. Photograph inside the office, along with Director
  2. Photograph outside the office, wherein the board of the name of the company is placed and director should stand by there.
  3. Bank Statement reflecting the entries of receipt of share application money
  4. Longitude and Latitude of the registered office

Task 5: Appointment of Auditor. For this e-Form ADT 1 needed to be filed. This compliance needed to be completed within 90 days of the date of Incorporation of the Company

Task 6: GST Registration needed to be done if needed

Task 7: MSME Registration needed to be done if needed

2. Conclusion:

Registering a Company is simple task but maintaining it is a huge responsibility. One should ensure that compliances are done on time to avoid any late fee and penalties.

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