Incorporation is the start of a private limited company's compliance obligations, not the end. Several deadlines fall in the first few months, and missing them can lead to penalties or complications during due diligence. A simple calendar helps founders stay ahead.
At incorporation
Incorporation through the integrated SPICe+ process typically issues the company's PAN and TAN along with the certificate of incorporation, and the linked forms can also cover registrations such as EPFO and ESIC, and GST where applied for. Open the company bank account promptly so that share subscription money and business transactions run through the company, not personal accounts.
Month one
- Hold the first board meeting within 30 days of incorporation.
- Appoint the first statutory auditor; the board must do this within 30 days of incorporation.
- Set up the statutory registers, such as the register of members and directors.
- Collect the share subscription money from the subscribers into the company bank account.
Months two and three
- Issue share certificates to subscribers within the period the Companies Act allows.
- File the declaration for commencement of business (INC-20A) once subscription money is received; the deadline is 180 days from incorporation, but there is no reason to wait.
- Register for GST if your turnover or the nature of your supplies requires it, and apply for professional tax and shops and establishments registration where your state requires them.
- If you pay salaries, rent or professional fees above the thresholds, deduct TDS and deposit it by the due date, usually the seventh of the following month.
Build the habit
After the first 90 days, compliance becomes routine: monthly GST and TDS, quarterly TDS returns, board meetings at the required intervals, and annual filings with the Registrar after the financial year ends. Keeping minutes, resolutions and filings organised from the beginning makes later fundraising much easier.
This essay is general information, not legal or tax advice. Rules and fees change, so confirm the current requirements with a chartered accountant, company secretary or lawyer before acting.
