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Annual Section 8 Company Compliances

- Section 8 Annual ROC and Tax Compliances
- Work handled by professionals
- Completely online process
- Get your Section 8 Company Compliances @ Rs 14,000/-

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Annual Section 8 Company Compliances

Section 8 Company CompliancesA Section 8 Company Compliances is established in order to encourage and nourish the act of arts, commerce science, sports, education, research, social welfare, religion, charity, protection of environment or any such other objective. The Section 8 companies fall under the Companies Act 2013 which would be registered as a Non-Governmental Organization. A company registered as Section 8 company cannot share profit made as a result of the charitable activities between its partners. The profit made during the functional part must be invested back into the company to promote trust and non-profitable activities to give back.

Other than the process of how the money dealt with made as a profit i.e., cannot be kept as shares or cannot be distributed among the people who incorporated the actual company, rest of the processes remain the same. For the incorporation of such companies a proper licensing is required from the government’s end. They strictly must follow the rules of promoting the set object and not involve in any activities that might end up profiting the personnel involved in the incorporation.

It is a serious offense in terms of legal actions if the company does not stay updated with the current law licensing, they would end up paying fine to the government as they failed to keep up the private limited regulations.

At Unilex Consultants we provide you a hassle-free Section 8 Company Compliances process which would be dealt by our professionals within a short time frame and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Table of Content

One Person Company Compliances

Documentation for MCA filing

DIN of Directors

DSC of Directors

MOA & AOA of Company

PAN of Company

OPC Compliance

Our Packages

Basic Plan
For Turnover upto 15 lacs in one F.Y

₨14000/-

₨/

  • Icon Auditor appointment
  • Icon Preparation of Financial statements
  • Icon Audit of your Company
  • Icon Drafting of Annual Report
  • Icon DIR3 KYC of Directors
  • Icon ROC annual E-forms
  • Icon ITR of Company
  • Icon Maintaining Minutes of meeting
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Popular

Premium Plan
For Turnover btw 30 lacs to 50 lacs in one F.Y

₨21000/-

₨/

  • Icon Auditor appointment
  • Icon Preparation of Financial statements
  • Icon Audit of your Company
  • Icon Drafting of Annual Report
  • Icon DIR3 KYC of Directors
  • Icon E-forms
  • Icon ITR of Company
  • Icon Maintaining Minutes of meeting
Checkout

Standard Plan
For Turnover btw 15 lacs to 30 lacs in one F.Y

₨17000/-

₨/

  • Icon Auditor appointment
  • Icon Preparation of Financial statements
  • Icon Audit of your Company
  • Icon Drafting of Annual Report
  • Icon DIR3 KYC of Directors
  • Icon E-forms
  • Icon ITR of Company
  • Icon Maintaining Minutes of meeting
Checkout

Note:-

  • The above cost does not include any of the event based compliances not specified in the package.
  • The above cost excludes taxes/penalties

Process for Annual Compliance

  • Step-1: Gathering documents
  • Step-2: Preparing annual reports
  • Step-3: Preparing financials
  • Step-4: Filing compliances

Requirements for NPO compliances

Appointment of Auditor: A section 8 company would need to appoint a individual auditor or an firm to take care of all the financial filings annually, Who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting And thereafter till the conclusion of every sixth meeting.

Registers to be Maintained: All the companies belonging to the Section 8 category are expected to have statutory records maintained update for the following members, charges, loans and investments. The above would give an overview of how active the company has been on yearly basis. Every Section 8 company has to prepare its records on annual financial records, once the financial records and statements they must be produced to the registrar and is done to stay legal.

Preparation of Board’s Report: A report by Board of Directors prepared required to be laid before members in Annual General Meeting. The meetings need to be logged and the signed minutes need to be maintained at the Registered Office.

Copy of the Annual Return to be filed with Registrar: Every company shall file with the registrar a copy of the annual return Within sixty days from the date on which the annual general meeting is held Where no annual general meeting is held in any year within sixty days from the date on which the annual general meeting should have been held (i.e.30th September) together with the statement specifying the reasons for not holding the annual general meeting.

Copy of financial statement to be filed with Registrar: All section 8 limited companies shall file a copy of the financial statements in E-form AOC-4 within 30 days from the date on which the annual general meeting is held.

Holding Board Meeting: Every company should hold meeting with the board members at least twice an year and the gap between both the meetings should not be more than 90 days.

Holding Annual General Meeting: Every company other than a One Person Company shall in each year hold Annual General Meeting on or before 30th September by giving not less than clear twenty-one days notice to all the members, directors and auditor. Where no annual general meeting is held in any year within 30 days from the date on which the annual general meeting should have been held.

Event-Based Compliances for Section 8 Companies

Event-based compliances must be reported following specific occurrences within a Section 8 company. Unlike annual compliances, these are triggered by certain events and are non-periodic. Here’s a checklist of key event-based Private Company Compliances for Section 8 companies:

  • Transfer of Stock: Reporting any transfer of stock ownership.
  • Share Distribution: Compliance related to the distribution or allotment of shares.
  • Director Appointment/Resignation: Notifying about the appointment or resignation of directors.
  • Auditors’ Appointment/Resignation: Reporting the appointment or resignation of auditors.
  • Changes to the Company’s Name: Compliance procedures following a change in the company’s name.
  • Changes to the Company’s MOU (Memorandum of Understanding): Any amendments to the MOU must be reported.
  • Key Management Personnel Appointment: Reporting the appointment of key management personnel.
  • Acceptance of Share Application Fund: Compliances related to accepting funds for share applications.
  • Any Changes to the Company’s Structure: Reporting any significant restructuring or changes in the company’s organizational structure.

Due Dates for Filing Section 8 Company Compliances

Understanding the yearly compliance filing deadlines is critical for Section 8 companies to avoid penalties. The following are the main deadlines:

  • AGM: Within six months of the fiscal year’s conclusion.
  • Financial Statements and Annual Report: Within 30 days of the end of the AGM.
  • Within 30 days after a change in office bearers or registered office.
  • Changes to the name or objectives are made in accordance with government timeframes and clearances.

Penalties for Failure to Comply

Failure to comply with the mandated compliances may result in consequences such as fines and legal action against the firm and its officers. Noncompliance might also result in the loss of Section 8 status.

While Section 8 Companies are motivated by good ideals and a desire to benefit society, adherence to legal and compliance standards is critical. Failure to satisfy these responsibilities may result in legal consequences, including penalties and the loss of the coveted Section 8 status. 

FAQ

Frequently Asked Questions

Yes, a Section 8 company can operate as an NGO. Section 8 companies are established for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, or any such other object, provided they apply their profits, if any, or other income in promoting these objectives.

Individuals or groups intending to register a company with charitable purposes and willing to apply its profits or other income solely towards promoting its objectives without paying any dividend to its members are eligible for Section 8 company registration.

There is no specific financial limit for Section 8 companies in terms of turnover or capital. However, they must ensure that their income and profits are used solely towards the objectives for which they were established and not for dividend distribution.

Yes, Section 8 companies can receive donations. They are often involved in activities that qualify for charitable purposes, making them eligible to accept donations from individuals, corporations, and other entities.

Anyone committed to the NGO's cause and willing to abide by its regulations and objectives can be eligible to join or start an NGO, depending on its specific membership rules and mission.

Starting an NGO can be a fulfilling career path for those passionate about social causes and community service. It offers the opportunity to make a significant impact in chosen areas of interest. However, it requires dedication, effort, and the ability to navigate challenges associated with non-profit management and fundraising.

NGOs may face challenges such as dependency on funding sources, which can impact their operations and sustainability. They may also encounter bureaucratic hurdles, limited resources, and the need for constant fundraising efforts. Additionally, NGOs might struggle with ensuring transparency and accountability, which are crucial for maintaining trust and credibility.

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