What are the required steps following approval by the Reserve Bank of India to setup a Liaison Office?

Several forms and documents are required by the Indian government officials after foreign companies have received LO approval from the Reserve Bank of India (RBI). These are Form 44 for the Registrar of Companies, an Annual Activity Certificate (ACC) and an audited balance sheet to be submitted to the RBI. In addition, companies are also required to submit the ACC form to the Income Tax Department along with audited financial statements, including a receipt and payment accounts.