After successfully incorporating a private limited company, adhering to mandatory post-incorporation compliance is crucial for its smooth operation and legal standing. At IConnect, we understand the complexities involved and provide comprehensive guidance to ensure your company remains compliant with all statutory requirements.
Key Post-Incorporation Compliance Requirements
1. **Board Meetings**
Within the first 30 days of incorporation, the company must hold its inaugural board meeting. Subsequent board meetings should be held at least once every three months, with a minimum of four meetings each year. Proper documentation and minutes of these meetings must be maintained.
2. **Share Certificates**
The company is required to issue share certificates to all shareholders within two months of incorporation. These certificates serve as proof of ownership and should be issued in accordance with the Companies Act, 2013.
3. **Statutory Registers**
Maintaining various statutory registers is a legal requirement. These include the Register of Members, Register of Directors and Key Managerial Personnel, and the Register of Charges, among others. These registers must be kept up-to-date and readily accessible at the company’s registered office.
4. **Appointment of Auditor**
An auditor must be appointed within 30 days of incorporation. The auditor plays a critical role in reviewing the company’s financial statements and ensuring compliance with financial reporting standards.
5. **Annual General Meeting (AGM)**
A private limited company is required to hold its first Annual General Meeting within nine months from the end of the first financial year. Subsequent AGMs must be held within six months from the end of the financial year, ensuring that there is no more than 15 months between two AGMs.
6. **Annual Filings**
The company must file annual returns and financial statements with the Registrar of Companies (ROC) each year. The annual return (Form MGT-7) and financial statements (Form AOC-4) must be filed within 60 days and 30 days of the AGM, respectively.
7. **Income Tax Filings**
Filing the company’s income tax return is mandatory, regardless of profit or loss. The return must be filed annually by the due date specified by the Income Tax Department.
8. **GST Compliance**
If the company is registered under the Goods and Services Tax (GST), it must comply with GST return filings and other related regulations on a monthly, quarterly, or annual basis, as applicable.
How IConnect Can Help
Navigating post-incorporation compliance can be daunting, but IConnect is here to simplify the process for you. Our experienced team provides end-to-end support, ensuring that all mandatory requirements are met efficiently and accurately. We assist with:
– Scheduling and documenting board meetings
– Issuing and managing share certificates
– Maintaining statutory registers
– Appointing and liaising with auditors
– Preparing and filing annual returns and financial statements
– Ensuring timely income tax and GST filings
Conclusion
Staying compliant with post-incorporation requirements is essential for the longevity and success of your private limited company. IConnect is committed to helping you navigate these obligations with ease and precision. Let us handle your compliance needs so you can focus on growing your business. Contact us today to learn more about our services.