Post Incorporation Compliances For Private Limited Company Mandatory and time bound in nature
Once a company is registered, there are some mandatory compliances to be followed. This is vital to avoid any penalty or punishment. The Compliance action includes holding a meeting of the board of directors, having a bank account, registered office address, the appointment of an auditor within 1 month, etc. Also, statutory registers & proper books of accounts should be maintained and share certificates to be issued to a shareholder. Within 6 months, a company needs to obtain a certificate of commencement of business.