Today lots of websites are there to incorporate your company. They take required documents over the email and in few days your company is in your hands. Now executive calls you and mails you the compliances which need to be done after incorporation.
The now problem arises, On telephonic discussion, it’s not easy to make someone understand easily because technical points takes time and Emails are used only to send bare information. Most of the Founders are not able to understand due to technicality of law, being busy in setup of business or countless compliances.
The major compliance which I have seen in most of the cases is, Founders are required to introduce share capital subscribed in Memorandum of association (MOA) within 60 days of incorporation, but they are failed to do. Reason could be Negligences/Delay in opening of bank account or fund crunch. Sometimes they don’t know about the capital they had subscribed in MOA.
Always check Liquidity funds before becoming shareholder. It is just for the awareness of newly entrants.
Keep reading! And reach out to us if you have any queries and you are looking for an CA in Gurgaon, Faridabad, Delhi for further clarification.