Compliances of Section 8 Company

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.

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) MBP-1 By every Director at each financial year for disclosure of director interest in other entity in the First Meeting of the Board of DirectorFresh MBP-1 is required to be submitted whenever there is a change in director interest from the earlier.
First Board Meeting First Board Meeting The First Meeting of the Board of Directors is required to be held within 30 days of the Incorporation of the Company. Notice of BM must be sent to every director at least 7 days before the meeting.
Commencement of Business INC-20 Every Company is required to file Form INC-20A within 180days from the date of commencement of business by opening a bank account with an amount of the paid-up share capital of the company failing which the company shall be liable of a penalty of Rs.50,000 and every officer in default shall be liable for a penalty of Rs.1,000 per day which may extend to Rs. 1,00,000
Rule 12A DIR-3 All the 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 30 June in respect of return of Deposit and particulars not considered Deposits as on 31st March.
Section 139 ADT-1 The auditor will be appointed for 5 years in form ADT-1 within 15days of the Annual General Meeting.
Section 92 MGT-7 File its annual return within 60days from the date of Annual General Meeting.Failing which a fine of Rs.100/- per day shall be levied
Section 137 AOC-4 File its annual return within 30days from the date of Annual General Meeting. Failing which a fine of Rs.100/- per day shall be levied