The first and the foremost requirement after incorporating a company is to hold a Board Meeting of all the directors, shareholders and other concerned board members within 30 days of incorporation.
A new Compliance is introduced where an application needs to be filed for the Commencement of business. It would state that the shareholder or members have duly paid the prescribed amount of share to the company. If the company does not file the commencement certificate, then the heavy penalty is applied to the same.
A board meeting has to be organised within a month after receiving a certificate of incorporation by ROC to discuss the business of the company and other factors related to the company.
After passing a resolution in the first board meeting, the ROC must be intimated about the meeting by form MGT-14 within 15 days.
After incorporating a new company, it is mandatory for the Board of Directors to collectively appoint an auditor for the company who is responsible for reviewing and evaluating company’s financial statements for a term of five years.
After incorporating a company, its now time to register for a head office for the firm within 15 days of its incorporation where all the government notices, agendas and other legal documents and communications will be addressed.
A new set of company stationery has to be assembled which includes:
A company needs to apply for a new PAN no. , which is a ten-digit alphanumeric character for the income tax department to keep a record of all sorts of income tax filing and compliances. A PAN form must be signed and sealed by a Director of the Company. The signed document must then be sent to the NSDL office for processing of the PAN application
With the help of the PAN no. The company can now open a bank account in its name quite easily. Having a bank account is important to conduct financial transactions. The documents required to open the bank account are:
Goods and Service Tax (GST) is one tax that will be levied on entire India on the supply of goods and services. After incorporating a company a person also needs to register themselves with the authorities, and the process can quickly be completed online by submitting key documents such as :
Then based on the Temporary Reference Number(TRN) application has to be completed and the applicant will receive Application Reference number through which they can check the status of their application. Once verification is complete, the applicant receives a notification on the registered number and e-mail id.
Trademark is the identity of any business and it is important to safeguard the same. India follows the NICE Classification for trademark classes. The NICE Classification is an international classification of goods and services for the purpose of registering a trademark. This classification system consist of 45 classes; first 34 classes include goods and rest of the classes, i.e. 35 to 45 includes services. In order to prevent others from registering your product in the same mark class, the company has to trademark its product under a particular class. The need for trademark classification is:
A trademark application can be filed at the Trademark Offices or online at IP India in the prescribed form TM-A. Once submitted, an application undergoes different stages like trademark examination and publishing in the trademarks journal, before ultimately being accepted or rejected.