Overview of Annual Compliance for Section 8
According to the Companies Act of 2013. All Section 8 companies must file compliance with the MCA or Ministry of Corporate Affairs. Section 8 companies are classified as Non-Governmental Organizations. These companies enjoy being treated as ‘Limited Company’, they are not obligated to add ‘Limited’ at the end of the company’s name. Section 8 companies aim to promote the needy sectors communities in India. These Companies are not applicable to provide income or dividends to their partners or members.
List of mandatory Section 8 company compliances
- Appoint an auditor –
A Section 8 corporation is required to hire an auditor to review and maintain its financial records and statements every year.
- Conduct Board of Meeting –
The Board of Meeting of the company shall meet twice a year, with at most three months or ninety days gap between the two meetings.
- File Income Tax Return
Section 8 companies are mandat to submit their IT Returns by September 30 of the prior financial year.
(Note: If a business is register under Sections 12A and 80G, it is eligible for tax exemptions.)
- Conduct an Annual General Meeting
Annual General Meeting must be held on September 30th. The presence of all the directors, shareholders, members and auditors at the Meeting is necessary. The Annual General Meeting report must be file with Form MGT-15 within 30 from holding such a meeting.
- Filing of financial return with Registrar of Companies (ROC).
The company must file their financial reports and statements with E-form AOC-4. It must be file within 30 days from the Annual General Meeting.
- Filing of Annual Return with Registrar of Companies (ROC).
The company must file their annual financial return with Form MGT-7. It must be file within 60 days from the Annual General Meeting.
Event-based Annual Compliances for a Section 8 Company
Compliances under the Companies Act, 2013 – Compliance Calendar for Section 8 Companies
| Form | Purpose | Due-date | Triggering Provision |
| INC- 20A | Declaration of commencement of business to ROC | Within 180 Days from the incorporation date | Section 10 A |
| MGT-6 | Intimation of the declaration received under Section 89 | Within 30 days from the receipt of the declaration by the company | Section 89(6) |
| BEN- 2 | Intimation of declaration received under Section 90 | Within 30 days from the receipt of the declaration by the company | Section 90(4) |
| DIR – 3 KYC | Directors’ KYC | 30th September | Rule 12A of Companies (Appointment & Qualification of Directors) Rules 2014 |
| ADT – 1 | Intimation of the appointment of a Statutory Auditor. | Within a time period of 15 days from the appointment of an auditor. | Section 139 |
| ADT – 1 | Notice to the Registrar for appointment of 1st Statutory Auditor | Appoint within 30 days from the incorporation date | Section 139(6) |
| ADT – 3 | Intimation concerning resignation of Statutory Auditor | Within 30 days from the Resignation date | Section 140 |
| MGT – 14 | Filing of Resolution and agreements as per Section 117 (3) | Within 30 days of the passing of such a resolution. | Section 117 |
| INC-22 | Intimation of Change in the Registered Office | Within 30 days of such change. | Section 12 |
| E-Form MSME-1 | Return with regard to outstanding payments to Micro or Small Businesses. | Within one month from the conclusion of each half year. | Section 405 |
| IEPF -2 | Declaration of Unclaimed and Unpaid Amounts as Per Section 125. | Within 60 days after the holding of the AGM | Rule 5 (8) of IEPF Authority (Accounting, Audit, Transfer & Refund) Rules, 2016 |
| DPT-3 | Return of deposit or particulars about a transaction that does not form a part of a deposit. | On or before 30th June 3 every year | Rule 16 of Companies (Acceptance of Deposits) Rules, 2014 |
| Form AOC-4/AOC-4 CFS/AOC-4 XBRL | Filing of annual accounts | To be filed within 30 days after the AGM’s conclusion | Section 137 |
| E – Form MGT – 7 | Filing of annual return | To be filed within 60 days after the AGM’s conclusion. | Section 92 |
| MBP-1 | Disclosure of Interest by Director. | At the first Board of meeting of the fiscal year | Section 184 |
Compliance under the Goods and Services Tax (GST) Act, 2017
| Form | Purpose | Due-date |
| – | GST Registration | Within 30 days of crossing the threshold limit |
| GSTR-1 | Reporting of Outward Supply (in case turnover exceeds Rs. 5 Crore or person who has not opted QRMP scheme | By the 11th of the subsequent month. |
| GSTR-1 IFF | Reporting of Invoices (for the person who opted QRMP scheme) | By the 13th of of the subsequent month |
| GSTR- 3B | Payment of tax and filing of return having a summary of outward supplies, tax credits etc (for the person other than those who opted the QRMP scheme) | On a quarterly basis |
| GSTR-9 | Filing of GST Annual return (if turnover exceeds 2 crores) | By 31st December of subsequent year |
| GSTR-9C | Filing of GST reconciliation statement (if turnover exceeds Rs. 5 crores) | By 31st December of subsequent year |
Compliance under Labour Laws
| Form | Purpose | Due-date |
| ECR | Payment of Provident Fund (PF) contribution | 15th of every next month |
| – | Payment of Employees’ State Insurance (ESI | 15th of every next month |
| – | Return of Employees’ State Insurance (ESI) | 15th of every next month |
| – | Labour Welfare Fund | Paid on annual basis as per the due date applicable in respective states |
| – | Filing of PF Return | 25th April subsequent to the financial year |
FAQ About Annual Compliance for Section 8?
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