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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 Company
| Triggering Provision | Detailed Provision | Statutory Timeline | Due Date | Required Form |
| Section 10 A | Declaration of commencement of business | Within 180 Days from the incorporation date | Within 180 Days from the incorporation date | NC- 20A |
| Section 89(6) | Intimation of declaration received under Section 89 | Within 30 days from the receipt of the declaration by the company | Within 30 days from the receipt of the declaration by the company | MGT-6 |
| Section 90(4) | Intimation of declaration received under Section 90 | Within 30 days from the receipt of the declaration by the company | Within 30 days from the receipt of the declaration by the company | BEN- 2 |
| Rule 12A of Companies (Appointment and Qualification of Directors) Rules 2014 | Directors’ KYC by every Individual who holds a DIN | Within 6 months from the end of the financial year | 30th September | DIR – 3 KYC |
| Section 139 | Intimation regarding the appointment of Statutory Auditor | Within 15 days of the appointment of an auditor | Within 15 days of the appointment of an auditor | ADT - 1 |
| Section 139(6) | Notice to the Registrar for appointment of First Statutory Auditor | Appoint within 30 days from the incorporation date | Within 30 days from the incorporation date | ADT – 1 |
| Section 140 | Intimation regarding the resignation of the Statutory Auditor | Within 30 days from the date of the resignation | Within 30 days from the date of the resignation | ADT – 3 |
| Section 117 | Filing of Resolution and agreements as specified in Section 117 (3) | Within 30 days of the passing of the resolution/ entering into agreement | Within 30 days of the passing of the resolution/ entering into agreement | MGT – 14 |
| Section 12 | Intimation of Change in the Registered Office | Within 30 days of the change of the address | Within 30 days of the change of the address | INC-22 |
| Order dated 22 January, 2019 issued under Section 405 | Return in respect of outstanding payments to Micro or Small Enterprise | Within 1 month from the conclusion of each half year | 31st October (For April-Sep) 30th April (For Oct-Mar) | E-Form MSME-1 |
| Rule 5 (8) of IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 | Statement of unclaimed and unpaid amounts as specified in section 125 | Within a period of 60 days after the holding of AGM | Within a period of 60 days after the holding of AGM | IEPF -2 |
| Rule 16 of Companies (Acceptance of Deposits) Rules, 2014 | Return of deposit or particulars of transaction not considered as deposit or both | On or before 30th June of every year | 30th June | DPT-3 |
| Section 137 | Filing of annual accounts | 30 days from the date of the AGM | Within 30 days from the date of the AGM | Form AOC-4/ AOC-4 CFS/AOC4 XBRL |
| Section 92 | Filing of annual return | To be filed within 60 days from the conclusion of AGM | Within 60 days from the date of the AGM | E - Form MGT - 7 |
| Section 1843 | Disclosure of Interest by Director | In the First Board Meeting of the Financial Year AND whenever there is a change in the disclosures already made | 1st Board Meeting of the F.Y. AND Whenever there is a change, the disclosures already made | MBP-1 |
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