ANNUAL COMPLIANCE OF SECTION-8 COMPANY

ANNUAL COMPLIANCE OF SECTION-8 COMPANY

SECTION 8 IS LIKE NON PROFIT ORGANIZATION, NGO, TRUST WHOSE MAIN OBJECTIVE IS TO WORK FOR THE PUBLIC NOT TO GENERATE PROFIT. GENERALLY NPO ARE REGISTER TO PROMOTE EDUCATION, RELIGION ETC. WHICH IS IN INTEREST IN THE SOCIETY. SECTION 8 IS ALSO REGISTERED UNDER THE COMPANIES ACT, 2013 AND ALL PROVISIONS ARE APPLICABLE TO THIS ENTITY.

• BENEFITS OF SECTION-8 COMPANY:-

  1. NO MINIMUM CAPITAL REQUIRED.
  2. NO APPLICABILITY ON THE MAXIMUM NUMBER OF DIRECTORS.
  3. MEMBERS OF THE COMPANY ARE NOT PERSONALLY LIABLE FOR THE DEBTS OF THE COMPANY.
  4. CERTAIN EXEMPTIONS AND DEDUCTIONS ARE ALLOWED IN INCOME TAX TO SECTION – 8 COMPANY.

• WHAT IS INCLUDED IN ROC COMPLIANCE?

  1. FINANCIAL STATEMENTS
  2. ROC FILING
  3. INCOME TAX RETURNS.
  4. MINUTES OF MEETING.
  5. DIRECTOR REPORT.
  6. SHARE CERTIFICATE
  7. ANNUAL RETURNS

QUARTERLY COMPLIANCE WHICH IS PART OF ANNUAL COMPLIANCE:-

  1. CONDUCT BOARD MEETING.
  2. PREPARATION OF NOTICE OF BOARD MEETING.
  3. AGENDA OF BOARD MEETING.
  4. PREPARATION OF MINUTES OF MEETING.
  5. ATTENDENCE REGISTER.
• STEPS THAT ARE REQUIRED IN ANNUAL COMPLIANCE.
  1. PREPARATION OF PROFIT & LOSS A/C AND BALANCHE SHEET.
  2. FILING OF INCOME TAX RETURN.
  3. PREPARATION OF ROC DOC       
  • AUDITOR APPOINTMENT.
  • NOTICE OF AGM
  • LIST OF SHAREHOLDERS
  • DIRECTOR’S REPORT
  • MGT-9.
  • MINUTES OF MEETING.

4. REVIEW, CONFIRM AND SIGNING OF DOCUMENTS.

5. FILING AND SUBMISSION OF FORM ADT-1, AOC-4 AND MGT-7.

EVENT BASED COMPLIANCES: – THESES COMPLIANCES NEED TO BE DONE ON TIME TO TIME ACCORDING TO MCA NOTIFICATIONS WHICH INCLUDE:-

Events Forms
i) i) APPLICATION FOR KYC OF DIRECTORS -DIRECTOR KYC. DIR-3 KYC
ii) ii) ACTIVE COMPANY TAGGING IDENTITIES AND VERIFICATION INC-22A
iii) iii) DECLARATION OF COMMENCEMENT OF BUSINESS INC-20A
iv) iv) CHANGE IN REGISTERED OFFICE INC-22
v) CHANGE IN DIRECTORS DIR-12

TAXVIMARSH WILL PROVIDE YOU THE ANNUAL COMPLIANCE SERVICES OF SECTION-8 COMPANY. IT WILL TAKE AROUND 15-20 DAYS BUT IT WILL DIFFER ACCORDING TO THE TRANSACTIONS & COMPLEXITIES IN THE BUSINESS.

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