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Work required after incorporation under Companies Act, 2013

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When a company is registered under the Companies Act, 2013 (Act), it is considered as a juristic person for the purposes of law. As it becomes a separate legal entity, a name is given to it & it can hold property in its own name. So, the act prescribes certain post incorporation works to be met by the company. These works are to be done either immediately after the incorporation or within the prescribed time period. This article discusses those post incorporation work.

Maintain Incorporation documents (S. 7)

As per the Act, the company is required to maintain & preserve copes of all incorporation documents originally filed till its dissolution.

Registered office (S. 12 & 10A)

As per the act, within 30 days of the incorporation, the company shall have a registered office for any future correspondences. Further, the company is required to file a declaration of verification of registered office in form 20A with the Registrar.

Maintain Letter heads (S. 12)

As per the Act, company is required to get printed in its business letters, billheads etc. its name, address, Contact No., E-mail ID etc.

Appoint Auditor (S. 139)

As per the Act, within 30 days from its incorporation, a company is required to appoint first auditor of the Company by passing a board resolution.

First Board Meeting (S. 173)

Within 30 days of the incorporation, a company is required to hold its first board meeting.

Share Certificates (S. 56 & 173) 

Within 2 months from the date of incorporation, company is required to issue share certificates to the subscriber of the memorandum.

Apply PAN

 

Firstly, a company after its incorporation should apply for PAN. Currently, through SPICE form companies get PAN along with incorporation certificate. So, the companies are not required to apply PAN separately.

Bank Account

For receiving subscription money & day to day expenses, a company is required to open a bank account.

Stamp duty

Within 30 days of the issue of share certificates company is required to pay stamp duty as per the stamp duty act, 1899.

Declaration of commencement of business

Within 180 days of the incorporation, a company is required to furnish declaration of commencement of business w.e.f. 02.11.2018.

First Director (S. 152)

As per the act, first director is appointed by the AoA. Other directors are appointed in general meeting of the shareholders. This meeting is regularized by the first director.

For the purposes of the all the compliances before the incoporation & after the incorporation of the company, contact Legal Suvidha.