Commencing private limited company
A private limited company can commence its business activities once it has completed the necessary registration process and obtained the Certificate of Incorporation from the Registrar of Companies (ROC). The Certificate of Incorporation signifies the legal formation of the company and grants it the authority to commence its business operations.
After obtaining the Certificate of Incorporation, the private limited company can undertake various activities, such as:
Opening a Bank Account:
The company can open a bank account in the name of the company and start transacting business.
Commencing Operations:
The company can begin its planned business activities, including the provision of goods or services, manufacturing, trading, or any other authorized activities as per its Memorandum of Association (MOA).
Hiring Employees:
The company can recruit employees and enter into employment contracts.Commence business private limited company
Entering into Contracts:
The company can enter into contracts with suppliers, customers, vendors, or other parties for the conduct of its business operations.
Tax Compliance:
The company must comply with tax regulations and obtain relevant tax registrations, such as Goods and Services Tax (GST) registration, and fulfill its tax obligations.
Statutory Compliance:
The company needs to adhere to various legal and regulatory requirements, such as maintaining proper books of accounts, conducting annual general meetings, and filing annual financial statements with the ROC.
For more information visit https://www.mca.gov.in
It is important to note that the company must comply with all applicable laws, regulations, and licensing requirements related to its specific industry or activities. Additionally, the company should fulfill any post-incorporation compliance requirements, such as obtaining necessary licenses, permits, or registrations based on its operations.
It is advisable to consult with professionals, such as a company secretary or a chartered accountant, to ensure that all legal and regulatory requirements are met before commencing business operations.
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