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Compliances under Section 8 Company

Operating a Section 8 company in India involves adhering to several mandatory compliances to maintain its non-profit status and ensure legal adherence.

Here are the key requirements:

  • Board Meetings
  • Disclosure of Interest
  • Appointment of Auditor
  • Annual Return Filing
  • Financial Statements
  • Income Tax Return
  • Maintenance of Statutory Registers
  • Minutes of Meetings
  • Compliance with Other Laws

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Description

Operating a Section 8 company in India involves adhering to several mandatory compliances to maintain its non-profit status and ensure legal adherence. Here are the key requirements:

  1. Board Meetings: Conduct the first board meeting within 30 days of incorporation and at least one board meeting every six months.
  2. Disclosure of Interest: Directors must disclose their interest in other entities using Form MBP-1 at the first board meeting of each financial year.
  3. Appointment of Auditor: Appoint the first auditor within 30 days of incorporation and subsequent auditors at the Annual General Meeting (AGM) using Form ADT-1.
  4. Annual Return Filing: File the annual return using Form MGT-7 within 60 days from the date of the AGM.
  5. Financial Statements: File financial statements using Form AOC-4 within 30 days from the date of the AGM.
  6. Income Tax Return: File the income tax return by September 30th of each financial year.
  7. Maintenance of Statutory Registers: Maintain various statutory registers, including the register of members, directors, and charges.
  8. Minutes of Meetings: Record minutes of all board and general meetings.
  9. Compliance with Other Laws: Ensure compliance with other applicable laws such as GST, FEMA, and labour laws.

These compliances help ensure that your Section 8 company operates smoothly and legally.

1

Asset Protection

2

Tax Preparation

3

Financial Advisory

4

Consulting

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