Right after incorporation
Once the certificate of incorporation arrives, set up the basics before you trade.
- Obtain the company’s PAN and TAN, if not issued with the certificate.
- Open a current account in the company’s name and bring in the share capital.
- Hold the first board meeting and appoint the first auditor within the time the law allows.
- File any post-incorporation forms that apply, including those relating to the commencement of business.
- Maintain statutory registers such as members, directors and share certificates.
Tax registrations
Depending on what you do, you may need a GST registration, a professional tax enrolment and registrations as an employer for PF and ESI once you hire. Starting without them is a common cause of penalties later.
Every year after that
A company has a regular yearly rhythm: board meetings and a general meeting, financial statements approved and filed with the Registrar, the annual return, the income tax return, and the director KYC filings. Each has its own form and deadline, and a missed one brings daily additional fees.
Keep the books from day one
Auditors, banks and investors will ask for clean records. Recording sales, expenses and bank entries every month is cheaper than rebuilding a year at the end.
Quick answers
When must the first auditor be appointed?
The law sets a short window after incorporation for the first auditor. We check the current period for your company and handle the appointment.
Do I need a GST number straight away?
It depends on your turnover and what you sell. Some businesses must register regardless of turnover. We tell you whether it applies to you.
This article is general information, not advice for your situation. Rules, limits and due dates change, so we confirm the current position before you act on it.