Compliance of NIDHI Company

Basic compliances of Nidhi Company include NDH-1, NDH-2, NDH-3, NDH-4 filings, member and deposit maintenance.
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BASIC COMPLIANCE OF NIDHI COMPANY

S. No. Activities / Compliance Parameter Remarks
1. Open a current account with any scheduled bank in the name of the Company. Immediately
2. File Form INC-20A before commencing business operations. Within 180 days of incorporation
3. Within one year from commencement of the rules, ensure that the company has:
(a) Not less than 200 members;
(b) Net Owned Funds of ₹10,00,000 or more;
(c) Unencumbered term deposits of not less than 10% of outstanding deposits; and
(d) Ratio of Net Owned Funds to deposits not exceeding 1:20. 		Regular
4. If the company is not complying with points (a) or (d) above, it shall apply to the Regional Director in Form NDH-2 for extension of time within 30 days from the closure of the first financial year. 30 days (Extension)
5. Comply with the contents of the prescribed application form for deposits. Application form for deposits
6. For identification purposes, obtain proof of identity and address (not older than two months) from depositors. PAN / Aadhaar etc.

ROC/MCA COMPLIANCE BY NIDHI LIMITED COMPANY

S. No. Form / Compliance Particulars Due Date
1. Form NDH-1
(Return of Statutory Compliance)		 Contains details regarding members, loans, deposits, reserves etc. for the full financial year. Filed with E-Form GNL-2 for submission of documents to the Registrar. Duly certified by PCA / PCS / CMA. Within 90 days from the close of the financial year (with fees)
2. Form NDH-2
(Application for Extension of Time)		 Application made to the Regional Director in E-Form RD-1 for extension of time for non-compliance of conditions (a) or (d) as mentioned under NDH rules. Within 90 days from the closure of the financial year (with fees)
3. Form NDH-3
(Half-Yearly Return)		 Contains details of number of members admitted and ceased during the half-year, total members, loans granted against securities and deposits accepted from members. Filed with E-Form GNL-2 and certified by PCA / PCS / CMA. Within 30 days from the conclusion of each half-year.
Penalty: ₹5,000 for non-compliance.
4. Form NDH-4
(Declaration as Nidhi Company)		 Application for declaration and updation of Nidhi status under Nidhi (Amendment) Rules, 2019 (effective from 15th August 2019).
Note: Failure to file NDH-4 restricts filing of SH-7 and PAS-3. 		Incorporated after 1st July 2019: Within 60 days after expiry of 1 year from incorporation.
Incorporated before 1st July 2019: Within 1 year from incorporation or on/before 15th February 2020.
5. Form AOC-4 Return for filing financial statements. Within 30 days of the Annual General Meeting
6. Form MGT-7 Annual Return of the Company. Within 60 days of the Annual General Meeting
7. Income Tax Return Filing of Income Tax Return as per Income Tax Act. 30th September of every year