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Your first 90 days after incorporation: the founder's checklist

The essential steps for a new Indian private limited company in its first 90 days: bank account, auditor, board meeting, INC-20A, GST, books and a compliance calendar.

By Refogo ResearchPublished 6 min read

90 daysto set up habits that last the life of the company

The certificate of incorporation feels like the finish line. It is the starting gun. Here is what to do, in order, so the next twelve months run on rails rather than reminders.

Days 1 to 15: the foundations

  1. Download the certificate of incorporation, PAN and TAN from the MCA portal and store them safely.
  2. Open a current account in the company's name.
  3. Deposit the subscription money from each shareholder into that account.
  4. Order a company seal only if your articles require one. Most no longer do.

Days 15 to 30: the statutory firsts

  1. Hold the first board meeting (Companies Act 2013 s.173(1)).
  2. Appoint the first statutory auditor (s.139(6)) and file ADT-1 where required.
  3. Issue share certificates to subscribers.
  4. Set up statutory registers of members and directors.

Days 30 to 60: tax and registrations

  1. Check whether GST registration is required now. It is compulsory for inter-state supplies of goods and most e-commerce sellers regardless of turnover.
  2. Register for professional tax where your state levies it.
  3. Apply for Udyam (MSME) registration to access MSME benefits.
  4. Apply for Startup India recognition if you are building an innovative product.

Days 60 to 90: lock the system in

  1. File INC-20A, the declaration for commencement of business. The legal limit is 180 days but it should not wait.
  2. Choose an accounting system and record every transaction from incorporation.
  3. Map your annual calendar: audit, AGM by 30 September, AOC-4, MGT-7 and income tax.
  4. Note each director's DIR-3 KYC cycle. It is now due once every three financial years.
  1. Day 1Incorporated

    PAN and TAN issued.

  2. Day 30Board meeting and auditor

    Statutory deadline.

  3. Day 60Registrations

    GST, professional tax, Udyam.

  4. Day 90INC-20A and books

    Commencement filed, accounting running.

  5. Day 180INC-20A legal deadline

    Penalty and strike-off risk after this.

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Related services

Private Limited Company RegistrationGST RegistrationAppointment of Statutory AuditorMSME Udyam Registration

Sources

General information only and not legal or tax advice. Figures are taken from the sources listed on the dates shown.

Common questions

What is the deadline for INC-20A?

Within 180 days of incorporation for companies with share capital. Missing it can lead to a ₹50,000 penalty on the company and strike-off.

When must the first auditor be appointed?

Within 30 days of incorporation by the board of directors.

Do I need GST registration immediately after incorporation?

Only if your turnover will cross the threshold or a compulsory category applies, such as inter-state supply of goods or selling through a marketplace.