1. Annual Return Filing with Registrar of Companies (ROC)
- Section 8 companies must file Form MGT-7 for the Annual Return within 60 days of the Annual General Meeting (AGM).
- This includes information about shareholding, board composition, meetings, and more.
- The AGM must be held within 6 months of the end of the financial year.
- If the company is a private limited entity, some exemptions from AGM may apply.
- Non-filing attracts late fees and may lead to penalties or the disqualification of directors.
2. Filing Financial Statements
- Form AOC-4 must be filed within 30 days from the date of the AGM.
- It includes audited financial statements, board report, and auditor’s report.
- Companies with foreign contributions must also comply with FCRA reporting obligations.
- The financials must comply with applicable accounting standards and audit requirements.
- Section 8 companies must maintain proper books of accounts and records.
3. Income Tax Filing and Audit Compliance
- Income tax return must be filed using Form ITR-7 annually, even if the company claims exemption.
- If total income exceeds prescribed limits, Form 10B (audit report) must be submitted.
- Companies registered under Section 12AB and 80G must furnish details of the utilization of income.
- TDS returns and compliance with tax deduction obligations are also mandatory.
- Failing to file ITR may lead to loss of tax exemptions and penalties.
4. Maintenance of Statutory Registers and Records
- Section 8 companies must maintain registers such as:
– Register of Members
– Register of Directors and KMPs
– Minutes of Board and General Meetings - Regular board meetings must be held (minimum two per year if the company, four if not).
- Proper notice, agenda, and documentation must be maintained for all meetings.
- Books of accounts must be preserved for at least 8 financial years.
5. Additional Reporting and Certification
- Filing of DIR-3 KYC for each director is mandatory annually to keep the DIN active.
- Filing of MSME and DPT-3 forms, if applicable, based on company transactions.
- Companies registered under FCRA must file Form FC-4 annually if foreign funds are received.
- Renewal of 12AB and 80G registrations is required every 5 years.
- Statutory audit by a Chartered Accountant is compulsory for all Section 8 companies.
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