By ComplyKart Expert Team · Reviewed by our company incorporation specialists · Last updated: October 2026

What Happens After Private Limited Company Incorporation? (First 30 Days Checklist)

Your Certificate of Incorporation just arrived. Congratulations — but the company isn't fully operational yet. There are seven things to complete in the first 30 days: PAN/TAN verification, bank account opening, auditor appointment, first board meeting, statutory registers, share certificates, and Shops & Establishment registration where applicable.

Miss the 30-day auditor deadline and you face penalties. Miss the bank account and you can't receive share capital. Here's the checklist in priority order.

The First-30-Days Checklist

1. PAN & TAN: Already Done (Just Verify)

The good news: PAN and TAN are auto-allotted with your Certificate of Incorporation through SPICe+. You don't apply separately.

Verify both on the income tax e-filing portal within the first couple of days. Occasionally there's a data mismatch (a typo in the company name, for instance) — catching it early is far easier than fixing it during your first tax filing.

2. Open a Current Account (Days 1–7)

You'll need: Certificate of Incorporation, MOA, AOA, PAN, board resolution authorising the account, KYC of directors and authorised signatories. Most banks also want the registered office address proof.

Practical tip: private banks (HDFC, ICICI, Axis) typically open startup current accounts in 3–5 working days; public sector banks can take 2–3 weeks. If speed matters, start with a private bank — you can always add a second account later.

3. Bring In the Share Capital (Days 7–14)

Each subscriber must pay for the shares they agreed to take in the MOA. If your MOA shows ₹1 lakh paid-up capital split between two founders, ₹50,000 each needs to hit the company's bank account.

This isn't optional paperwork — the company's bank statement is evidence. File INC-20A (declaration of commencement of business) within 180 days, confirming the capital is received. The ROC can strike off companies that never file it.

4. Appoint Your First Auditor (Within 30 Days — Don't Miss This)

The board must appoint the first statutory auditor within 30 days of incorporation. If the board doesn't, shareholders do it at an EGM within 90 days — but don't let it slide that far.

Penalty for missing it: the company and every officer in default face fines. It's one of the most common first-year penalties for new companies, and entirely avoidable.

Your auditor must be a practising Chartered Accountant. Most incorporation professionals can recommend one, or continue with the CA firm that handled your registration.

5. First Board Meeting (Within 30 Days)

The agenda for the first board meeting is fairly standard:

• Note the Certificate of Incorporation
• Appoint the first auditor
• Approve the registered office (if not already done)
• Authorise bank account opening and signatories
• Approve statutory registers
• Issue share certificates
• Take on record the subscriber payments

Keep proper minutes — signed, dated, and filed in the minutes book. Sloppy board paperwork in year one becomes a diligence headache in year three.

6. Statutory Registers & Share Certificates

Set up these registers from day one (physical or electronic):

• Register of Members — who owns what
• Register of Directors & KMP — board composition
• Register of share transfers
• Minutes books — board and general meetings (separate books)

Share certificates must be issued within 60 days of incorporation, signed by two directors (or one director + the company secretary, if appointed).

7. Shops & Establishment and GST

Shops & Establishment registration is state-level and required in most states once you have a physical office with employees. Timelines vary — some states want it within 30 days of starting operations.

GST registration is not automatic. You need it if your turnover crosses ₹40 lakh (₹20 lakh for services in most states), or if you want input tax credit, sell inter-state, or sell on e-commerce platforms. Apply separately when the trigger hits — don't rush it on day one if you don't need it.

What About the Company Seal?

Not mandatory since the 2015 amendments. Most new companies skip it entirely. If a bank or vendor asks for one, you can get it made — but no law requires it.

Frequently Asked Questions

What happens if I miss the 30-day auditor deadline?

The company and every officer in default are liable for penalties under Section 147. In practice, appoint as soon as you realise — the longer the delay, the worse it looks. Your CA can regularise it, but don't make a habit of it.

Can I operate before the bank account is open?

You can sign contracts and hire, but you can't receive the subscription capital or run transactions through the company until the account exists. Get it opened in week one.

Do I need a company secretary in the first year?

Only if your paid-up capital is ₹10 crore or more. Below that, your CA/CS firm handles secretarial compliance. Most startups don't appoint a full-time CS for years.