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Compliances after registration of Private Limited Company
- Apply for PAN and TAN
- Apply for Sales Tax / Service Tax Registration based on the nature of Business.
- Filing ADT-1 for Appointment of First Auditor of the Company within 1 Month of Incorporation of Company and in case the Board fails to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an Extra Ordinary General Meeting appoint such auditor and such auditor shall hold office till the conclusion of the first Annual General Meeting.
- Filing Income Tax Return of Company on or Before 30th September every year
- To maintain proper Books of Accounts
- Get your account books Audited Every Year
- Filing of form MGT-7,AOC-4 and ADT-1 every Year
Penal Provisions for Non Compliance
- If a company does not maintain proper books of accounts then the company and every officer of the company who is in default shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to three lakh rupees and where the failure is a continuing one, with a further fine which may extend to one thousand rupees for every day, after the first during which the failure continues.
- If a company fails to file Form AOC-4 within time, the company shall be punishable with fine of one thousand rupees for every day during which the failure continues but which shall not be more than ten lakh rupees.
- If a company fails to file Form MGT-7 before the expiry of the prescribed period, then the company shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakhs rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both.
Process to Incorporate Company with Foreign Nationals
We need following documents of Foreign National
1. Copy of Passport ( as Proof of Identity)
2. Address proof ( Telephone bill, Electricity bill or Bank statement)
3. Five Photographs
All the documents should be Notarized and sent to us in Originals
Where subscriber to the memorandum is a foreign national residing outside India- Subscriber Sheet should be Attested by
- In a country in any part of the Commonwealth, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized by a Notary (Public) in that part of the Commonwealth.
- In a country which is a party to the Hague Apostille Convention, 1961, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized before the Notary (Public) of the country of his origin and be duly apostillised in accordance with the said Hague Convention.
- In a country outside the Commonwealth and which is not a party to the Hague Apostille Convention, 1961, his signatures and address on the memorandum and articles of association and proof of identity, shall be attested by Indian Embasy in that country;
- If Foreign subscriber has Visited in India and intended to incorporate a company, in such case the incorporation shall be allowed if, he/she is having a valid Business Visa, in that case subscriber sheet is to be signed by Indian Practicing Professional.
Attention Required : Save your Money
We have come across Incidents where people get COD / VPP couriers after incorporation of their company / LLP.
Once Company is incorporated, data is freely available on MCA website and is used by many fraudsters to make money.
They take printout of free available data and send to registered address of company via VPP / COD and ask you to pay some money to receive the courier.
Please do not accept this Courier, MCA / ROC do not send these Paid Couriers and advise you not to accept them.
Your all company registration documents shall be provided by MyCorporation without any extra cost.