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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Sector 8
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: Conduct the first board meeting within 30 days of incorporation and at least one board meeting every six months.
- Disclosure of Interest: Directors must disclose their interest in other entities using Form MBP-1 at the first board meeting of each financial year.
- 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.
- Annual Return Filing: File the annual return using Form MGT-7 within 60 days from the date of the AGM.
- Financial Statements: File financial statements using Form AOC-4 within 30 days from the date of the AGM.
- Income Tax Return: File the income tax return by September 30th of each financial year.
- Maintenance of Statutory Registers: Maintain various statutory registers, including the register of members, directors, and charges.
- Minutes of Meetings: Record minutes of all board and general meetings.
- 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.
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