Compliances of Section 8 Company

Section 8 Company compliances include annual filings, board meetings, audit reports, and adherence to Companies Act provisions.
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Compliances of Section 8 Company

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Compliances of Section 8 Company

A company is referred to as Section 8 Company when it is registered as a Non-Profit Organization (NPO) i.e. when it has the motive of promoting arts, commerce, education, charity, protection of the environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives.

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Basic Compliances of Section 8 Company

SECTION & RULES FORMS PARTICULARS
164(2), 143(3)(g) DIR-8 Disclosure of non-disqualification in each financial year by every director.
184(1) DIR-8 Disclosure of director’s interest in other entities by every director at each financial year in the First Meeting of the Board of Directors. Fresh MBP-1 is required to be submitted whenever there is a change in director’s interest.
First Board Meeting — The first meeting of the Board of Directors must be held within 30 days of incorporation. Notice of the Board Meeting must be sent to every director at least 7 days before the meeting.
Commencement of Business INC-20A Every company is required to file Form INC-20A within 180 days from the date of commencement of business by opening a bank account and depositing the paid-up share capital. Failure attracts a penalty of ₹50,000 on the company and officers in default.
Rule 12A DIR-3 All directors of the company shall file DIR-3 on or before 30th September every year.
Section 73, Rule 16 DPT-3 To be filed every year on or before 30th June for return of deposits and particulars not considered as deposits as on 31st March.
Section 139 ADT-1 Auditor to be appointed for 5 years by filing Form ADT-1 within 15 days of the Annual General Meeting.
Section 92 MGT-7 Annual return to be filed within 60 days from the date of the Annual General Meeting. Failure attracts a fine of ₹100 per day.
Section 137 AOC-4 Financial statements to be filed within 30 days from the date of the Annual General Meeting. Failure attracts a fine of ₹100 per day.