Incorporation is the easy part. The first year carries a calendar of ROC filings that catches a lot of founders off guard. Here's what's due and roughly when.
Soon after incorporation
- Commencement of business (INC-20A) — filed once subscribed capital is in the company's bank account.
- First auditor — appointed by the board within 30 days of incorporation.
- Statutory registers — set up and maintained from day one.
Through the year and at year end
- Board meetings — held at the required intervals, with minutes maintained.
- AOC-4 and MGT-7 — financial statements and annual return, filed after the AGM.
- DIR-3 KYC — for every director, annually.
The expensive mistake: ROC penalties accrue per day and don't get waived. A simple calendar set up on day one is the cheapest insurance you'll buy.
In short
Commencement filing, first auditor, registers, board meetings, then the annual return and accounts. Map them out at incorporation and the first year runs smoothly.
HK
CA Honey Kalra
Independent Chartered Accountant. I write short, practical notes on tax, GST and compliance — and I'm always happy to answer a real question.
