Annual Compliance for Section 8 Companies
Dobizindia Business Solution Pvt. Ltd.'s Section 8 compliance with the company makes sure professionals handle these obligations. This saves you time and energy, so you can concentrate on the main act
Dobizindia Business Solution Pvt. Ltd.'s Section 8 compliance with the company makes sure professionals handle these obligations. This saves you time and energy, so you can concentrate on the main act
All Section 8 companies have to perform the annual compliance obligations that are outlined in the Companies Act, 2013 and the Income Tax Act, 1961. This helps ensure that the business is reliable and trustworthy and avoids sanctions for not complying. Compliance-related tasks have to be performed all through the year. They are often tedious.
Dobizindia Business Solution Pvt. Ltd.'s Section 8 compliance with the company makes sure professionals handle these obligations. This saves you time and energy, so you can concentrate on the main activities of the business
MGT 7 | MGT 8 |
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All businesses with a registered address in India must submit the MGT-7 form annually, including the Registrar of Companies (RoC) on the Ministry of Corporate Affairs website. | However, the Companies Act 2013, Section 92(2) requires a professional company secretary to sign the Form MGT-8, which is an official certification. |
MGT 7 applies to every public and private company that is registered under the Companies Act of 2013 or any earlier Companies Act and is required to complete their annual return by submitting an electronic form MGT-7. | MGT 8 applicability: The following types of firms must be able to have their annual reports approved by a company secretary who is working to allow MGT 8 application by the rules under Section 92(2) of the Companies (Management and Administration) Rules, 2014: |
The only exception is that one-person companies (OPCs) and small businesses are eligible for MGT 7A eligibility, the abbreviated form for annual returns. All OPCs and small companies with Indian corporate registrations must submit the MGT-7A forms, which are subject to MGT-7A eligibility in the hands of the Registrar of Companies (RoC), according to the Ministry of Corporate Affairs' website.
These documents are essential for the completion of registration under Section 8. Annual Conformity Reports for India,
Section 8: The Company must adhere to all compliances within the following timeframe:
Form No | Compliance | Due Date |
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MGT-15 | Annual General Meeting (AGM) | 30 September. |
AOC-4 | Directors' report | within 30 days from the AGM |
MGT-7 | Annual returns | Within 60 days of the AGM |
Form ITR-6 | Tax returns for income | 30 September |
In the event that you meet the requirements specified in the applicable provisions of the Income Tax Act, Section 8 companies are eligible for the full exemption. Start with Section 80G registration and Section 12A.
The failure to provide the director's permission notice could result in the possibility of a fine as high as Rs50,000 or a prison sentence of up to six months.
Failure to submit annual returns can result in the possibility of a fine of Rs 50, 000 that could go up to Rs 5 lakh.
Failure to provide an audited copy of financial statements to members before the annual general meeting and to record them in the minutes is punishable by the possibility of a fine as high as Rs 25, 000. Failure to conduct an annual general assembly can be punished by a fine ranging from Rs 1 lakh to Rs 2 lakh.
Inability to submit the director's permission notice could result in the possibility of a fine as high as Rs50,000 or imprisonment for up to six months.
The Section 8 Company is allowed to set aside or accumulate up to 15 percent of its earnings without tax.
Yes, the CSR obligation applies to Section 8 companies.
Yes, the provisions of the GST apply to Section 8 companies.
These are regular compliance requirements to be performed under Section 8 of the company Registration. These are all included in the compliance kit.
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
Applied for startup recognition certificate, work done in scheduled time with good coordination of teamThank u
Cameron Williamson
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