The following are the immediate 10 steps to be taken by the corporate after registration:
WITHIN 30 DAYS
- Filing Verification of Registered Office (Form INC-22)
The details of permanent registered office should be filed in Verification of its Registered Office in Form INC 22 within 30 days of Company registration if the corporate was registered with a brief address while filing SPICe Form in INC-32.
- Opening bank account in name of the Company
The details and documents and initial deposit may vary from different bank.
- Books and Accounts of Company.
Every business is required to under tax Compliances like write-off at Source (TDS) and Advance Tax Payments from time to time. Every company has got to prepare and keep the books of account in bookkeeping system of accounting on accounting. the corporate should maintain the Books of Accounts of all receipts payments and to comply legal requirements under Companies Act and other various laws.
- Appointment of First Auditors by Company
The Board of Directors of the corporate should appoint a controller who holds a legitimate certificate of practice because the First Auditor of Company within thirty days from the date of registration of the corporate.
- Shop and Establishment Registration
Every Business Establishments are required to get Shop and Establishment Registration under respective State Shop and Establishment Act and Rules within 30 days of registration.
- Professional Tax Registration – Employer & Employee
Every Company is required to get Professional Tax – Employer Registration (Enrolment Certificate) within 30 days of incorporation.
WITHIN 60 DAYS
- Initial Capital infusion by Subscribers to Memorandum
The subscribers to the Memorandum of Company should bring the quantity of subscribed capital as stated within the Memorandum of Association at the time of company registration within 60 days of incorporation.
- Releasing of Certificate of shares to the Subscribers of MOA
Share Certificates to the subscribers to the Memorandum of Association shareholders must be done by the company within 60 days of incorporation. The Share Certificates needs to be issued within the prescribed format of Form SH-1 duly signed by a minimum of two directors of the corporate and an Authorised Signatory. Authorised signatory can be the third director, if any, or a person duly authorised by the Board of Directors during this regard. Three different signatories to the Share Certificate are a requirement.
WITHIN 180 DAYS
- Business commencement by Company
Declaration of Commencement of Business by Company needs to be filed with the Registrar of Companies that each subscriber to the memorandum has paid the worth of the shares. Filing by the Company of the declaration within a period of 180 days of the date of incorporation of the corporate in Form INC 20A. After filing the declaration of Commencement of Business with Registrar of Companies, Company can commence its business operation.
SPECIFIC NEED BASIS
- Goods and Services Tax (GST) Registration
Every business with annual turnover exceeds Rs. 40 lakhs (Service providers 20 lakhs) are required to GST Registration under Goods and Services Tax (GST) Act and Rules.
Also, there are more regulatory compliance requirements a corporation should follow under Companies Act and other various laws as could also be applicable to the character of business of Company.