Compliances Applicable to non-profit companies (section 8 companies)

Compliances Applicable to non-profit companies (section 8 companies)A section 8 company in India is a non-profit company which aims to promote social welfare and work for the betterment of the society. Although they are non-profit company, much like other companies they are also subject to compliance requirements. Section 8 company is dedicated to social causes. Non-profit company must adhere to specific regulatory in order to run smoothly, through this blog you are supposed to explored compliances that are applicable to non-profit companies along with statutory data, due date and required forms to meet compliances.

Applicable Compliances on Section 8 CompanyTriggering ProvisionDetailed Provision Statutory TimelineDue Date Required FormSection 10 A Declaration of commencement of business Within 180 Days from the incorporation dateWithin 180 Days from the incorporation dateNC- 20ASection 89(6)Intimation of declaration received under Section 89Within 30 days from the receipt of the declaration by the companyWithin 30 days from the receipt of the declaration by the companyMGT-6Section 90(4)Intimation of declaration received under Section 90Within 30 days from the receipt of the declaration by the companyWithin 30 days from the receipt of the declaration by the companyBEN- 2Rule 12A of Companies (Appointment and Qualification of Directors) Rules 2014 Directors’ KYC by every Individual who holds a DINWithin 6 months from the end of the financial year30th SeptemberDIR – 3 KYCSection 139Intimation regarding the appointment of Statutory Auditor Within 15 days of the appointment of an auditorWithin 15 days of the appointment of an auditor ADT - 1Section 139(6)Notice to the Registrar for appointment of First Statutory AuditorAppoint within 30 days from the incorporation dateWithin 30 days from the incorporation date ADT – 1Section 140Intimation regarding the resignation of the Statutory AuditorWithin 30 days from the date of the resignationWithin 30 days from the date of the resignationADT – 3Section 117Filing of Resolution and agreements as specified in Section 117 (3) Within 30 days of the passing of the resolution/ entering into agreementWithin 30 days of the passing of the resolution/ entering into agreement MGT – 14Section 12Intimation of Change in the Registered OfficeWithin 30 days of the change of the addressWithin 30 days of the change of the addressINC-22Order dated 22 January, 2019 issued under Section 405 Return in respect of outstanding payments to Micro or Small EnterpriseWithin 1 month from the conclusion of each half year31st October (For April-Sep) 30th April (For Oct-Mar)E-Form MSME-1CLICK ON THE LINK TO READ MORE:https://crspl.in/blog/compliances-applicable-to-non-profit-companies