Post-Incorporation Mandatory Compliance Checklist for Pune Companies: Commencing Business (INC-20A), Auditor Appointment, and Statutory Filings

Mandatory Statutory Obligations Following Company Incorporation

Receiving your Certificate of Incorporation (COI) from the Registrar of Companies (ROC), Pune is only the initial step. Under the Companies Act 2013, newly incorporated companies must complete critical statutory compliance filings within strict statutory deadlines to avoid severe penalties and director disqualifications.

The 5 Non-Negotiable Post-Incorporation Steps:

1. Commercial Bank Account Opening & Capital Inflow

Open a corporate current account and ensure all founding subscribers deposit their committed initial share capital as outlined in the subscription clause of the MOA.

2. Appointment of First Statutory Auditor (Form ADT-1) - Deadline: 30 Days

The Board of Directors must appoint an independent chartered accountant or CA firm as the company’s first statutory auditor within 30 days of incorporation. Form ADT-1 must be filed on the MCA portal.

3. Filing Declaration for Commencement of Business (Form INC-20A) - Deadline: 180 Days

Under Section 10A of the Companies Act 2013, a company cannot commence business activities or exercise borrowing powers until the directors file Form INC-20A with bank verification proof showing that subscribers have paid the value of their shares. Failure to file INC-20A within 180 days attracts a ₹50,000 penalty for the company and ₹1,000 per day for directors, and empowers the ROC to strike off the company.

4. Issuance of Share Certificates & Payment of Stamp Duty

Issue formal share certificates (Form SH-1) to initial shareholders within 60 days of incorporation and pay applicable stamp duty on share certificates to the Maharashtra Stamp Office within 30 days of allotment.

5. Commercial Registrations in Pune

Ensure your company secures its local Shop Act license (Gumasta) and evaluates GST registration applicability.