Discuss the Compliances That a Private Limited Company in India Needs to Comply With

Written by Saptaparni Raha, Lawyer

Introduction

In India, private companies are governed by the Companies Act of 2013. Certain legal compliances must be followed to incorporate a private limited company in India.

Legal Compliances

• The first compliance is the appointment of an auditor. The company needs to appoint an auditor within 30 days of its incorporation through the board of directors meeting.

• The company's directors must disclose their interest in other companies, associations, or related parties not to be disqualified from the appointment.

• The company must have a registered office to receive and acknowledge communication and notices on and from the 15th day of its incorporation.

• The company needs to share certificates with the subscribers of the memorandum within two months from the date of incorporation.

• Every company must have its registered office, email ID, company identification number, website, and telephone number.

• Companies must obtain their permanent account number and tax account number.

Conclusion

Consequent to the incorporation, a company must fulfil the Act's requirements so as not to be de-registered.

References

• JusIP, Mandatory Compliance For a Private Limited Company In India (Mondaq)

• Khusbu T, 7 compliances for Private Limited Company (Vakilsearch)

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