Company Registration

Hello great minds,

Please advise:

  1. In India when GST and PAN is done, thus this has the same meaning like having a registered company in India –
  2. When we have an registered company – then we must have movements, turnovers, works etc. in this company – right?
  3. Then we need to prepare a yearly balance sheet and all other financial statements– right?

Thank you for those who will reply :slight_smile:

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Hi Ludy,

In India , for Indian companies, it has to be registered with Ministry of Corporate Affairs. This is as per the Companies Act.

To register a Indian Company - Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.

Incorporation through SPICe (For details, SPICe FAQs under HELP & FAQS may be referred)

For Foreign companies to have a principal place in India - Any foreign company can establish its place of business in India by filing eForm FC-1 (Information to be filed by foreign company).

Note: The eForm needs to be digitally signed by authorized representative of the foreign company. There is no need to apply and obtain DIN for Directors of a foreign company. However, it is mandatory to register the DSC of the authorized representative of the foreign company via associate DSC service available at MCA portal.

Refer to - Ministry Of Corporate Affairs - Incorporation

Based on the nature of business entity (private limited, public limited, one person company, and others, there are a set of corporate compliances to adhere such as GST, PAN, etc.

Once you have the registered credentials, there are a series of activities to perform such as auditor appointment, regular ROC filings, KYC declarations, returns with MCA, conduct Annual General Meetings, Directors Report, Income Tax compliances, all other applicable compliances that are based on the events that a company performs and so on as prescribed under the Companies Act and Rules thereunder for the corresponding entities.

Ideally the entity may appoint a company secretary to support/guide through the aforesaid compliances.

Regards,
Bhuvana Anand

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Thanks a lot Bhuvana for your comprehensive reply… this sure helps :slight_smile:

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