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आप अपना business करें, हम आपका Taxation, Accounting, GST देखेंगे…..

The next step post company/entity incorporation is statutory/secretarial compliances, which can be quite complicated at times. Certain responsibilities are on the shoulders of directors only in order to stay compliant with the respected authorities such as ROC/MCA/GST/INCOME TAX among others. Primary requirements after registering a Private Limited Company are mentioned below in a simple yet understandable manner which is not exhaustive.

1 – Initial Registrations & Compliances

Ø First Auditor Appointment Compliance - Chartered Accountant (within 30 Days)

Ø Bank Account Opening and deposit of Paid-up Share Capital

Ø Share Certificate (within 60 Days)

Ø Business Commencement Certificate Compliance (within 180 Days)

Ø First Board Meeting along with Minutes (Within 30 Days)

Ø Board Meetings along with Minutes (minimum 4)

Ø Shop Act License / Trade License

Ø MSME Registration

Ø Professional Tax Registration of Directors

Ø Trademark /ISO Registration

Ø Import Export Code Registration

Ø GST Registration

2 – To Conduct the Business (Monthly/Quarterly/Annually)

Ø GST Returns

Ø Maintenance of Books & Accounts

Ø TDS Returns

Ø LWF Returns

Ø ESI/PF Returns

Ø ROC Filings

Ø Professional Tax (in Applicable States & areas)

3 -Post completion of each Financial Year (Annual)

Ø Balance Sheet and related documents preparation

Ø Audit Report

Ø Director’s Report

Ø AGM

Ø Annual Returns Filing (AOC-4, MGT-7 Etc.)

Ø List of Shareholders

Ø Income Tax Returns (Company)

Ø Income Tax Returns (Directors)

Ø Dir-3 KYC

Mentioned above are standard requirements, complete checklist for Private Limited Company, LLP, Trust, Nidhi Company, and all other entities registered can be different as per the laws.

Non-Compliant Companies/Entities are heavily penalized by authorized departments like the Ministry of Corporate affairs. Directors/Partners have advised a cautious approach towards running the company or it may lead to prosecution as well as monetary punishment as per mentioned in-laws.