Key points
- Getting the first few months right — bank account, auditor appointment, registrations — avoids penalties later.
- Recurring obligations include GST and TDS returns, advance tax, ROC annual filings and the income tax return.
- A compliance calendar and clean books are sound preparation for fund-raising and due diligence.
At incorporation
- Certificate of incorporation, PAN and TAN (now issued with incorporation)
- Open a current account in the company's name
- Issue share certificates to subscribers within the prescribed time
- Maintain statutory registers and minute books
In the first months
- Appoint the first statutory auditor within 30 days of incorporation
- File the declaration for commencement of business, where applicable, within the prescribed period
- Obtain GST registration if required, and Professional Tax, Shops & Establishments and other state registrations as applicable
- Register with EPFO and ESIC once employee thresholds are met
- Consider Start-up India recognition (DPIIT) if eligible, and MSME/Udyam registration
- Hold the first board meeting within 30 days of incorporation and at least the minimum number of meetings each year thereafter
Recurring monthly and quarterly
- GST returns and payment
- TDS deposit monthly and TDS statements quarterly
- PF and ESI contributions
- Advance tax instalments
- Board meetings and minutes
See our compliance calendar for indicative due dates.
Annually
- Statutory audit of financial statements
- Annual general meeting (generally within six months of year-end, except for the first AGM which has its own timeline)
- ROC filings — financial statements and annual return
- Income tax return, and tax audit report if applicable
- Director KYC and disclosures of interest
- Annual return on foreign liabilities and assets, if the company has foreign investment
Fund-raising readiness
Investors will review your cap table, share issuance filings, valuation reports, tax filings and contracts. Issuing shares requires board and shareholder approvals, valuation where applicable, ROC filings and — for foreign investors — FEMA reporting. Keeping this in order from day one saves time and cost during due diligence.
For general information only. This article summarises the law as generally understood at the time of writing and is not professional advice. Rates, thresholds and due dates change — please consult us before acting.
