Receiving your Certificate of Incorporation (COI) from the Ministry of Corporate Affairs (MCA) is a thrilling milestone. However, many first-time founders believe that their legal work is done.
In reality, the moment your company is born, the statutory compliance clock starts ticking. Failing to file initial forms within strict deadlines triggers heavy penalties starting at ₹100 per day per form, director disqualification, and even company bank account freezes.
In this exhaustive guide, our experienced CA team outlines every mandatory filing required in your company's first 12 months.
1. Immediately After Incorporation (Days 1 to 30)
- Open Corporate Current Bank Account (Within 30 Days): Deposit subscriber share capital.
- Appointment of First Statutory Auditor (Form ADT-1) (Within 30 Days): Under Section 139(6), Board must appoint a CA as first auditor within 30 days.
2. Within First 180 Days (Crucial Milestone)
Form INC-20A: Declaration of Commencement of Business
- Mandatory before commencing business operations or borrowing money.
- Requirement: Share capital deposited into bank account + bank statement CA certificate.
- Deadline: 180 days from incorporation date.
- Penalties for Non-Filing: Company fine ₹50,000 | Directors fine ₹1,000/day | Risk of company strike-off!
3. Month-by-Month Annual Compliance Calendar
- Every Quarter: Board Meetings (Min 4/year, max 120 days gap between meetings). Fine: ₹25,000/director.
- April 30: MSME Form 1 (Half-yearly return for MSME payments over 45 days).
- June 30: Form DPT-3 (Return of Deposits & outstanding loans). Fine: ₹1 Lakh to ₹25 Lakhs.
- September 30: Form DIR-3 KYC (Annual KYC for every Director). Flat Fine: ₹5,000 per DIN.
- September 30: Annual General Meeting (AGM) within 9 months of FY close.
- October 30: Form AOC-4 (Financial Statements filing). Fine: ₹100 per day (No cap!).
- November 29: Form MGT-7 / MGT-7A (Annual Return filing). Fine: ₹100 per day (No cap!).
4. Tax Compliance Checklist for Year 1
- Advance Tax Payments: June 15 (15%), Sept 15 (45%), Dec 15 (75%), March 15 (100%).
- Monthly / Quarterly GST Returns (GSTR-1 & GSTR-3B).
- Quarterly TDS Returns (Form 26Q / 24Q).
- Income Tax Return (Form ITR-6): Due 30th October even if you had ZERO revenue!