Nidhi Company Annual Compliances

Nidhi Annual Company Compliance: The one and only motive of a Nidhi company is to borrow and lend money among the members. Since Nidhi companies are non-banking financial organizations, they are excluded from the compliance of the Companies Act, 2013. Its compliance abide by the Nidhi Company Act, 2014 regulations. Filing of the annual compliance will require the mandatory application of NDH-1, NDH-2, & NDH-3 and a legal proceeding. Failing to comply with the provisions may result in imprisonment and a penalty with an extension up to Rs. 5000.

Sujata Associates is a market-leading Company Registration based in Kolkata, serving clients all over India. We provide various range of legal services which includes Annual Compliance for all types of organizations as well. Want to run your business hassle-free without any legal issues? Choose us as your legal partner, and we will take care of all the registrations, drafting legal agreements, and auditing on your behalf. Get a free quote today by consulting a Sujata Associate’s advisor for your Nidhi Company Annual Compliance.

Update: Coronavirus Pandemic has caused a great loss in every industry. Following the guideline, we are now re-opening our services with proper safety measures.

NIDHI COMPLIANCE

Nidhi Annual Company Compliance

If you want to start a business that deals with the matters of loans or financing in India, we will recommend you to register with Nidhi. Registering of Nidhi Companies is hassle-free than compared to that of the NBFCs. The main objective of registering in a Nidhi Company is to encourage the good habits of frugality and savings amongst the members of a company.

DOCUMENTS REQUIRED:

  • No Objection Certificate
  • Director Identification Number of Directors
  • Director Identification Number
  • Digital Signature
  • PAN card copies of the members

Penalty for Non-Compliance

The penalty for non-compliance has been recently increased by the MCA and the Income Tax Department as under. Hence, it’s important to ensure your compliance is managed professionally to avoid penalty which could sometimes run into lakhs.

Late Filing MCA Annual Return – Rs. 200 per day of delay

Late Filing Income Tax Return – Rs.5000 upto 31st December and Rs.10,000 after 31st December.

Late Filing GST Return – Rs.50 per day of delay

Not Appointing Auditor with 30 Days of Incorporation – Rs.300 per month* from 31st Day increasing every 30 days.

We offer three packages for annual compliance:

Our basic package at Rs.20,000 (inclusive of all taxes) includes bookkeeping, financial statement preparation, statutory audit, annual report / directors report / board resolution preparation, MCA annual report filing, income tax return filing. This package can be used by companies with a turnover of less than Rs.25 lakhs per annum.

Our standard package at Rs.30,000 (inclusive of all taxes) includes bookkeeping, financial statement preparation, statutory audit, annual report / directors report / board resolution preparation, MCA annual report filing, income tax return filing. This package can be used by companies with a turnover of less than Rs.50 lakhs per annum.

Our basic package at Rs.50,000 (inclusive of all taxes) includes bookkeeping, financial statement preparation, statutory audit, annual report / directors report / board resolution preparation, MCA annual report filing, income tax return filing. This package can be used by companies with a turnover of less than Rs.100 lakhs per annum

Are you searching for Nidhi annual company compliance?

Start With KYC Part

All the shareholders and directors a first needs undergo the KYC procedure

Select name

Select  at least three names to progress for Nidhi Company Registration

Proper number of individuals

There should be three directors  with the other seven members

Submit Articles Of Association

The application must be submitted along with the Articles of Association

Need For Digital Signature

It's mandatory to get the digital sign of all the submitted documents

PAN And TAN

After receiving PAN and TAN, your bank account will be opened.

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