LLP Compliance
Certain requirements are outlined in the Companies Act of 2013 and must be satisfied by the deadlines specified. These rules promote transparency and good governance while protecting the interests of all parties concerned, including the ROC, shareholders, directors, investors, and tax authorities. These compliances are classified as annual compliances, recurring compliances, one-time post-incorporation compliances, and event-based compliances. The first category of one-time compliances has already been thoroughly discussed.
Compliance
A one-person company must immediately comply with particular legal requirements established in the Companies Act of 2013 and, if necessary, secure local registrations in accordance with the state legislation of the state in which the One Person Company is conducting business. The full list of compliances, together with their timeframes, is shown below. Contact one of our startup advisors for more in-depth conversations.
Forms Penalty
Appointment of 1st Auditor Within 30 Days of Incorporation
Issue of Share Certificate Within 60 Days of Incorporation
Stamp Duty Payment on Share Certificate Within 30 Days of the Certificate Issue
Filing of INC-20A (Declaration for Business Commencement)
Registered Address maintenanceRegistered office details filingCurrent
Bank Account openingEntire Subscribed Capital received Within 180 Days of Incorporation, but before commencing business