CA RAMAKRISHNA SANJAY
Congratulations! Incorporating your company is a huge milestone
"Incorporation is not the finish line—it is the starting point."
Once a company receives its Certificate of Incorporation (COI), it enters a regulated framework governed by the Companies Act, 2013.
Here is to-the-point guide on the mandatory post-incorporation steps for a Private Limited Company in India.
📅 Phase 1: Immediate Post-Incorporation (First 30 Days)
✔ Key Actions
🏦 Bank Account Opening
Essential for operational readiness and capital infusion.👥 First Board Meeting (Section 173)
Must be conducted within 30 days
Covers:Appointment of auditor
Disclosure of interest
Adoption of initial resolutions
🧾 Appointment of First Auditor
To be appointed by the Board within 30 days📄 Issue of Share Certificates
Must be issued within 60 days to subscribers
🚨 Phase 2: Commencement of Business (Critical Compliance)
📌 INC-20A – Declaration of Commencement
This is a non-negotiable compliance checkpoint.
Timeline: Within 180 days
Pre-condition: Share capital must be deposited in company bank account
Certification: Filed by a practicing professional
⚠ Risk Exposure
Company penalty: up to ₹50,000
Directors: ₹1,000 per day
Potential strike-off by ROC
🔁 Phase 3: Recurring Annual Compliances
Once operational, compliance becomes cyclical.
📊 1. DIR-3 KYC
Applicable to all directors holding DIN
Due Date: 30th September
Impact of Delay: DIN deactivation + ₹5,000 fee
📑 2. AOC-4 (Financial Statements)
Filing of:
Profit & Loss Account
Due Date: Within 30 days of AGM
📘 3. MGT-7 / MGT-7A (Annual Return)
Captures:
Shareholding pattern
Governance structure
Due Date: Within 60 days of AGM
💰 4. Income Tax Return (ITR-6)
Due Date: Typically 31st October (audit cases)
💡 Strategic Compliance Insights
✔ GST Registration
✔ Professional Tax (State-Specific)
📌 Conclusion
Compliance is not a regulatory burden.
A company that is compliant:
Builds investor confidence
Avoids legal disruption
Scales sustainably
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