Calendar for Section 8 company compliance has to be followed with utmost importance by all the NGO. Now learn everything about it
The Section 8 company compliance are firms that are established for the sole development of commerce, art, science, sports, education, research, social welfare, religion, charity, and environmental protection, and not for commercial purposes. Despite being a NPO it has to comply with rules and regulations provided by the central government.
Compliances Applicable to the Section-8 Companies
With the introduction of the Section 8 Companies Act of 2013, the total number of compliance has increased significantly. Limited companies, public companies, listed companies, small companies, or One Person Company (OPC) have to comply with all these rules and regulations. Like other commercial companies, Registration Of Section 8 companies are required to comply with annual and regular compliance under the Companies Act of 2013.
To increase the transparency of the report, the Ministry Of Corporate Affairs (MCA) and the Security and Exchange Board of India (SEBI) frequently publish new changes in the form of circulations and notifications.
In some cases, it is advisable to track relevant compliance under the applicable provisions of the Companies Act, 2013 or SEBI. The Companies Act, 2013 requires various compliances to be enforced from time to time. For better understanding experts at Vakilsearch, have categorised various compliances based on the following criteria:
- Event-based compliance: Section 8 company compliance that must be performed when a particular event occurs like the resignation of an auditor or director
- Time-based compliance: Annual, semi-annual, or quarterly, such as submission of e-Forms AOC4 or MGT7 compliance to complete
- Compliance based on specific criteria: Some compliance is based on paid-in equity capital, sales, or other specific requirements such as EForm AOC4 (XBRL) submission requirements or the appointment of a company secretary.
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Compliances Calendar for Section-8 Companies
Companies are required to comply with all applicable compliances within the specified deadline. Violations by companies often lead to heavy penalties. All the compliances have to be reported to the Registrar Of Companies (ROC).
In case of any non-compliance within the given period, the company stands liable for a fine of ₹25,000/- to ₹5,00,000/-. It may also result in imprisonment, so it is crucial to make sure that the company is completely compliant with the annual Section 8 company compliance calendar. Cross-check all the provided compliances below.
| Applicable law | Triggering Provision | Detailed Provision | Statutory Timeline | Due Date | Required Form | Reporting Authority |
| Companies Act, 2013 |
Section 10 A
|
Declaration of commencement of business. | Has to be filled within 180 days from the date of Incorporation. | Has to be filled within 180 days from the date of Incorporation | INC- 20A | ROC |
|
Section 89(6)
|
Intimation of declaration received under Section 89 | It has to be intimated within 30 days of receiving the receipt of declaration by the company | It has to be filed within 30 days of receiving the receipt of declaration by the company | MGT-6 | ROC | |
| Section 90(4) | Intimation of declaration received under Section 90 | It has to be filed within 30 days of receiving the receipt of declaration by the company | It has to be filed within 30 days of receiving the receipt of declaration by the company | BEN- 2 | ROC | |
| Rule 12A of Companies (Appointment and Qualification of Directors) Rules 2014 | Directors’ KYC by every Individual who holds a Director IdentificationNumber | Has to be compiled within 6 months from the end of a financial year | 30th September | DIR – 3 KYC | ROC | |
| Section 139 | Intimation regarding the appointment of a Statutory Auditor. | In 15 days after appointing an auditor | In 15 days after appointing an auditor | ADT – 1 | ROC | |
| Section 139(6) | Intimation to the register of appointment of primary statutory auditor | The auditor appointment should be intimated within 30 days from the date of Incorporation | The appointment has to be completed within 30 days from the date of Incorporation | ADT – 1 | ROC | |
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Section 140 | Intimation regarding the resignation of Statutory Auditor | The intimation has to be provided within 30 days from the date of resignation of the auditor | The intimation has to be provided within 30 days from the date of resignation of the auditor. | ADT – 3 | ROC |
|
Section 117
|
As specified in Section 117 (3) registering resolutions and agreements | Has to be completed within 30 days of passing the resolution or entering into an agreement | Has to be completed within 30 days of passing the resolution or entering into an agreement | MGT – 14 | ROC | |
| Section 12 | Intimation of Change in the Registered Office | Within 30 days from the date of address change | Within 30 days from the date of address change | INC-22 | ROC | |
|
Order dated January 2019 issue under Section 405
|
All the returns concerning outstanding dues to small businesses | After the completion of every half year, it has to be filed within a month. |
31 October (For April-Sep) 30 April (For Oct-Mar) |
E-Form MSME-1 | ROC | |
| Rule 5 (8) of IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 | All the information regarding unpaid and unclaimed due amounts as specified in section 125 | In 60 days after holding the Annual general meeting | In 60 days after holding the Annual general meeting | IEPF -2 | ROC | |
| Rule 16 of Companies (Acceptance of Deposits) Rules, 2014 | All the deposit returns or particulars of transactions that are not considered deposits or both | On or before 30th June of every year | 30th June | DPT-3 | ROC | |
| Section 137 | Filing of annual accounts | It has to be filed within 30 days from the date of conducting the Annual general meeting | It has to be filed within 30 days from the date of conducting the Annual general meeting | Form AOC-4/AOC-4 CFS/AOC-4 XBRL | ROC | |
| Section 92 | Filing of annual return | It has to be filed within 60 days after completing the annual general meeting | It has to be filed within 60 days after completing the annual general meeting | E – Form MGT – 7 | ROC | |
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|
Section 184
|
Disclosure of Interest by Director.
|
This has to be filed in the very first board meeting of the financial year and subsequently when there is an amendment in the disclosures that have been previously made. | 1st Board Meeting of the financial year and when there is an amendment in the disclosures that have been previously made. | MBP-1 | Nil , the director of the company has to disclose the details to the company. |
How Vakilsearch Can Help Section 8 Companies?
Vakilsearch is the best in supporting Section 8 company compliance when it comes to submitting documents and annual returns accurately, making sure of the acceptability of any facts submitted to branch and ministry websites.
- Our CA/CS will fill out all the forms and file them on your behalf
- We will guide you throughout the process
- Vakilsearch has experience with hundreds of NGOs and knows the needs of such organisations.
Remember, legal is simple at Vakilsearch, You simply have to reach out to the experts at Vakilsearch and provide all the required documents for the process. All of that is executed from the comfort of your home.
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