Recently Incorporated a Company? 

Key Compliances You Must Keep in Mind


Incorporating a company is only the first step. After incorporation, several initial legal and procedural compliances become applicable which should not be ignored by promoters, directors, or management.

Many newly incorporated companies focus only on starting business operations and unintentionally miss important post-incorporation compliances such as commencement of business filing, appointment of auditor, issue of share certificates, maintenance of statutory records, and accounting setup.

Timely compliance from the beginning helps avoid unnecessary penalties, notices, operational restrictions, and future legal complications.












This article provides a practical overview of major compliances generally required immediately after incorporation of a company in India.

Quick Compliance Checklist After Incorporation of Company











Immediate / Initial Compliances

  • Display of company name and registered office details

  • Mentioning company details on invoices, letterheads, emails, website, etc.

  • Activation and operational use of company bank account

  • Deposit of subscription/share capital by subscribers

  • Filing of commencement of business (INC-20A), wherever applicable

  • Appointment of first statutory auditor

  • Issue of share certificates

  • Maintenance of statutory registers and records

  • Setup of books of account and accounting software

  • Compliance relating to edit log/audit trail in accounting software

  • Holding initial Board Meeting and maintaining minutes

Other Important Points

  • PAN and TAN are generally allotted simultaneously with incorporation

  • EPFO/ESIC registrations are also generated in most cases during incorporation itself

  • GST registration may also be obtained simultaneously wherever opted for or applicable

  • MSME/Udyam and Startup India registrations may be explored wherever beneficial

Detailed Discussion of Major Compliances

1. Display of Company Name & Registered Office Details

After incorporation, the company should ensure proper display of:

  • Company name

  • Registered office address

  • Other prescribed details, wherever applicable

The name board/sign board should generally be displayed at the registered office in the prescribed manner.

2. Updating Company Details on Business Documents

Company details should generally be mentioned on:

  • Invoices

  • Letterheads

  • Quotations

  • Purchase orders

  • Emails

  • Website

  • Visiting cards and other business stationery

Common details generally include:

  • Company name

  • CIN

  • Registered office address

  • Contact details

This is one of the most commonly ignored initial compliances by startups and small companies.

3. Company Bank Account

Nowadays, bank account facilitation is often integrated during the incorporation process itself. However, the company should ensure that:

  • the bank account is properly activated,

  • operational access is available, and

  • business transactions are routed through the company’s bank account.

Proper banking records should also be maintained from the beginning.

4. Deposit of Subscription Money / Share Capital

Subscribers to the Memorandum are generally required to deposit the agreed share capital amount into the company’s bank account.

Proper proof of receipt should be maintained, as it becomes important for:

  • commencement of business filing,

  • accounting records,

  • audit purposes, and

  • future shareholding verification.

5. Filing of Commencement of Business – Form INC-20A

Companies having share capital are generally required to file Form INC-20A before commencing business operations or exercising borrowing powers.

The form is generally filed after:

  • receipt of subscription money from subscribers, and

  • operational readiness of the company bank account.

Failure to file INC-20A may result in penalties and restrictions on commencement of business activities.



6. Appointment of First Auditor

Every company is required to appoint its first statutory auditor within prescribed timelines.

The company should maintain:

  • Board Resolution,

  • auditor consent,

  • eligibility certificate, and

  • appointment records.

The auditor generally holds office till the conclusion of the first Annual General Meeting (AGM).

7. Issue of Share Certificates

Share certificates should be issued to shareholders/subscribers within prescribed timelines.

The company should also maintain proper:

  • share certificate records,

  • Register of Members, and

  • related statutory documentation.

Applicable stamp duty requirements relating to share certificates should also be complied with as per applicable laws.



8. Statutory Registers & Records

Every company is generally required to maintain various statutory registers and records such as:

  • Register of Members

  • Register of Directors & KMP

  • Minutes Books

  • Share certificate records

  • Register of Charges, wherever applicable

These records should be updated and preserved properly.

9. Books of Account & Accounting Software Compliance

Proper books of account should be maintained from the date of incorporation itself.

Companies should generally maintain records relating to:

  • sales,

  • purchases,

  • expenses,

  • bank transactions,

  • assets, and

  • other financial records.


Further, companies maintaining books in accounting software should ensure compliance relating to audit trail/edit log requirements.

The accounting software should generally:

  • have edit log/audit trail feature,

  • maintain record of changes, and

  • preserve logs properly.

Businesses should also keep in mind evolving compliance requirements relating to maintenance of books through accounting software systems instead of purely manual records.

10. Initial Board Meeting & Minutes

Companies are required to hold Board Meetings as prescribed under the Companies Act.

Important initial matters generally approved include:

  • appointment of auditor,

  • operation of bank account,

  • authorisation of directors,

  • issue of share certificates, and

  • other operational approvals.

Minutes and records of meetings should be properly maintained.

11. PAN, TAN, GST, EPFO & ESIC Related Integration

Nowadays, PAN and TAN are generally allotted simultaneously with incorporation through MCA integration. Further, in most cases, EPFO and ESIC related registrations are also generated during the incorporation process itself. GST registration may also be obtained simultaneously wherever opted for or applicable.

12. Optional but Beneficial Registrations

Depending upon eligibility and business requirements, companies may also explore:

  • MSME/Udyam Registration

  • Startup India / DPIIT Recognition

  • Other industry-specific registrations

These registrations may help in obtaining:

  • financial benefits,

  • government scheme benefits,

  • easier financing opportunities, and

  • business recognition advantages.

Conclusion

Post-incorporation compliance management is extremely important for every company, whether it is a startup, family business, professional practice, or growing enterprise.

Many defaults occur not because of intentional non-compliance, but because promoters are unaware of the immediate legal and procedural requirements applicable after incorporation.

Setting up proper:

  • documentation systems,

  • accounting processes,

  • statutory records, and

  • compliance tracking mechanisms

from the beginning can help avoid unnecessary penalties, notices, and future disputes.

Timely compliance also improves credibility with banks, investors, customers, vendors, and government authorities.

Disclaimer

This article is for general informational and educational purposes only and does not constitute legal, tax, accounting, secretarial, or professional advice. Compliance applicability may vary depending upon the type of company, nature of business, turnover, state laws, and other specific facts and circumstances. Readers are advised to consult qualified professionals before taking any decision or action based on this article.



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