First board meeting

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2014 i have incorporated a company on 29/08/2014
kindly tell me which compliances are required to accomplish after incorporation

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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30 September 2014 1. PAN: The first requirement after the incorporation of a company is applying for a Permanent Account Number (PAN). All other statutory registrations like VAT, IEC (Import Export Code) etc including opening of a bank account are linked to it.

2. Auditor: A qualified and practicing Chartered Accountant be finalized for appointment as the Statutory Auditor of the Company

3. 1st Board Meeting: In order to satisfy the requirement of appointing the 1st Auditor of the company within 1 month from the registration of the company (as per the requirement of Section 139(6) of the Companies Act, 2013), the Company shall convene its 1st Board Meeting within 30 days from the date of incorporation to consider the following matters:
- Taking on record the Certificate of Incorporation
- Noting of situation of Registered Office address
- Noting of 1st directors
- Approval of preliminary expenses
- Approval for opening of a Current Account
- Appointment of 1st Statutory Auditors
- Approval of Common Seal
- Approval of draft Share Certificates
- other matters
4. Printing of Share Certificate: Date of allotment to subscribers will be the date of incorporation of the company and the same date will also be used for printing on share certificate to be issued to subscribers.
5. Stamp Duty: Stamp Duty is to be paid on Issue of Share Certificates. Stamp Duty varies from State to State.
6. Issue of Share Certificates: Share Certificates are to be issued to the Subscribers only after payment of Stamp Duty.
7. Register of Members: The name of the subscribers to be entered in the Register of Member with date of incorporation of the company as the date of Allotment / Issue of Shares.

8. Bank Account: After obtaining PAN, the company shall open a Current Account with a bank and the promoters shall contribute the subscription money to the said account.

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Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2015 Thanks for your reply,

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