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If you have successfully registered your company with the Registrar of Companies (RoC) of the Ministry of Corporate Affairs (MCA), we would like to congratulate you for taking the first step toward formalizing your business operations. However, this is only the beginning of your business journey.
You need to ensure compliance with all the applicable laws and regulations, whether you run a private limited company or a public limited company. Your business must meet certain post-incorporation compliance requirements within the defined timelines. Since a company is an artificial legal entity, it must operate through its directors who bear the responsibility of fulfilling all the legal and regulatory obligations. Meeting these obligations is essential for maintaining the company’s good reputation and avoiding legal complications.
In this blog post, we will explain 10 things to do after company registration process in India.
Here we have listed out the things required to be done after the Company Incorporation. Let us understand them completely.
One of the most important things to do after company registration is to set up a business bank account. Through this bank account, all the financial transactions of the business will be conducted. The bank account must be opened before the company issues any shares.
The various documents required for opening a bank account include the following:
Certificate of incorporation
Resolution of the board of directors
Company's Memorandum of Association (MOA) and Articles of Association (AOA)
List of latest directors of the Company
Address proof of registered office address
Identity proof of the directors
Appointment proof of current directors
Proof of Resignation of directors
Company PAN card
Shareholding of the Company
The company incorporation certificate, also known as certificate of incorporation, is issued by the Registrar of Companies (RoC) to a newly registered company. This certificate brings the company alive.
Once this certificate is received by the business, a board containing the below-mentioned details must be placed outside the Company's registered office address:
Name of the Company
CIN number of the Company
The registered address of the Company
The telephone number of the Company
Address of the Company's website or the Company's FAX number, if any.
According to Section 139(6) of the Companies Act 2013, the Board of the Company's directors is required to appoint the first auditor within 30 days of company registration.
The auditor shall be appointed by filing FORM ADT-1 with the corporate affairs ministry. If the directors cannot appoint the auditors within the specified time, the general meeting shall appoint the auditor within 90 of company registration.
After registration, the company becomes a separate legal entity from its owner. Hence, it is required to apply for its Permanent Account Number (PAN) and TAN (Tax Deduction and Collection Account Number).
Doing so ensures the business adheres to the tax compliance requirements. Additionally, it allows the company to file income tax returns separately.
The company needs to maintain certain registers as per the Companies Act 2013. These registers include Register of Members, Register of Debenture Holders, and Register of Directors and Key Managerial Personnel. These registers must be kept at the registered office.
Issuance of share certificates is a mandatory requirement under the Companies Act 2013. Every company must issue share certificates to the subscribers of the memorandum within two months from the date of incorporation.
Thus, the subscribers must submit the agreed subscription amount to the Company within 60 days of incorporation.
After the company registration, you must check the criteria for GST registration. If you fall under the purview of the GST regime, make sure to get this registration to avoid any tax evasions and legal proceeding following it.
In case of failure to register under the GST regime, the penalty is 10% of the tax due or Rs. 10,000, whichever is higher. So, if you’re required to obtain GST registration, make sure you get it as soon as possible.
A trademark registration gives a company legal rights over its brand logo, symbol, sign, etc. It is not mandatory to obtain trademark registration in India.
However, you should obtain a trademark registration to protect your unique and innovative brand. A trademark helps a brand to build credibility and good reputation in the market.
After the registration, the Company must get its letterhead printed containing the details like name of the Company, registered office address, CIN number, telephone number, E-mail ID, FAX number if any.
Further, the Company must also adapt its common seal with its name engraved in the legible characters.
After company registration, the company shall get its Memorandum of Association (MoA) and Articles of Association (AoA) printed, a minimum of 100-loose leaf pages recording Minutes of Meeting (MoM), and at least 50 printed certificates that are readily available.
It is the responsibility of the company directors to take adequate measures to fulfill these requirements to enjoy smooth operations and avoid legal issues.
Getting your company registered with the Registrar of Companies (RoC) is just one step for formalizing your business. There are many other steps involved, such as opening a bank account, displaying company details, appointment of auditors, applying for PAN and TAN, and GST registration among others. If you need assistance in incorporating a company or in ensuring post-registration compliance requirements, connect with Registrationwala’s consultants!
Post Modified Date: 13-02-2025
Also read: Why Register A Business Name In Ontario?
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