Compliance after Company Registration

For new entrepreneurs before setting up their business the most important decision is the type of business model to be set up to suit their business needs. However, deciding on your business type is just the beginning. After registration of business it is important to be vigilant and comply with all the law required mandatory compliances. In this article we will discuss the type of compliances one is required to adhere to after successful company Registration in India.

Once company registration is completed there are a number of compliances that are to be done. Such compliances include tax compliances, compliances mandated under Companies Act, 2013 or any other Act applicable on such company.

Compliances under Companies Act, 2013

Following are the compliances mandated under Companies Act, 2013:

1. Auditor’s appointment- Company must appoint an auditor within 30 days of incorporation. This appointment must be reported through filing Form ADT-1. 2. Hold Board Meetings- After private limited company registration the directors are required to conduct minimum 4 board meeting every year. And the gap between two consecutive board meetings shall not exceed 120 days. 3. Hold Annual General Meeting- Every company is required to conduct one AGM after the end of every financial year. 4. Annual Compliance- Every registered company is required to comply with annual compliance requirements which include filing of following forms; • Form AOC-4- Financial statements are furnished in this form and is required to be filed within 30 days of Annual General Meeting. • Form MGT-4- Annual Return is submitted through this form and is required to be filed within 60 days from the date of Annual General Meeting.

Tax Compliances

Other than these ROC compliances the company is also required to comply with all the tax compliances. This will include; • Income Tax return filing by 30th September of every financial year for the previous year ending. • Timely GST return returns are also required to be filed if the company is registered under Goods and service Tax.

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