Compliances by Company / LLP for the first Financial Year
Getting Certificate of Incorporation is the starting point of a series of compliances a Company or LLP. Post Incorporation Compliance requirements are different for a Private Limited Company and LLP.
Here we are analysing the Post Incorporation Compliances by a Company and LLP for the first Financial Year from the date of incorporation.
Compliance Requirements | Company / Applicability | LLP / Applicability |
Applicable (If registered with temporary Address) / within 30 days of registration | Not Applicable | |
Opening Bank Account | Applicable | Applicable |
Books and Accounts & Tax Compliances | Applicable | Applicable |
Applicable / within 30 days of registration | Audit is applicable only when | |
Applicable / within 30 days of registration | Applicable / within 30 days of registration | |
Applicable / within 30 days of registration | Applicable / within 30 days of registration | |
Infusion of Initial Capital by Promoters | Applicable / within 180 days of registration | Applicable / No specific timelines |
Declaration for Commencement of Business | Applicable / within 180 days of registration | Not Applicable |
Can be availed as per requirements / within 60 days of registration | Not Applicable | |
Maintenance of Statutory Registers and Records | Applicable | Not Applicable |
Minutes of Board Meetings and General Meetings | Applicable | Not Applicable |
Goods and Services Tax (GST) Registration
| Applicable / Depends on requirements | Applicable / Depends on requirements |
| Optional : Can be availed as per requirements | Optional : Can be availed as per requirements |
DIN KYC Filings | Applicable / Based on date of obtaining the DIN falls on or before 31st March of a year | Applicable / Based on date of obtaining the DIN falls on or before 31st March of a year |
DPT 3 Filings | Applicable | Not Applicable |
MSME Half yearly returns | Applicable | Not Applicable |
Audit of Accounts | Applicable once the First year Accounts are ready | Applicable only when turnover / capital exceeds specific limits |
Annual Filings with Register of Companies (ROC) | Applicable / Based on date of registration falls on or before 31st December of a year | Applicable / Based on date of registration falls on or before 30th September of a year |
Income Tax Return | Applicable / Based on date of registration falls on or before 31st March of a year | Applicable / Based on date of registration falls on or before 31st March of a year |
Post Incorporation Compliances for Company & LLP
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