What is Annual Compliance for Section 8 Company
• Maintain Accounts and Prepare financial statements: – Mandatory at the end of each financial year
• Annual returns: – Once a year.
• Income tax return: – Each Year on or before 30th of September.
• Annual General Meeting: – Mandatory twice a year.
• Audit: – It is compulsory for section 8 company to conduct an annual audit of its accounts.
• Annual Filing of Forms: – Mandatory once a year.
Is annual compliance must for a section 8 company or good to have activities?
It’s mandatory for all section 8 companies to file annual compliance and other tax-related returns. Failing which will lead to heavy penalties or your Company in Defaulter list of ROC. Next step is to understand various implications.
Three Easy Steps for Section 8 Company Compliance
• Connect to kaushikii team
• Provide necessary documents required for compliance & other filing activities.
• Our Compliance expert advisor will help your Section 8 company to complete annual and other mandatory Compliance.
Benefits
• Avoid financial penalties
• Build trust & brand loyalty
• Better visibility of operations
• Avoid any legal implications
• Maintain credibility in the market
Kaushikii Procedure for Section 8 Company Compliance
Step 1: Kaushikii received your request for Section 8 Company Compliance
Step 2: We will assign a dedicated resource who is professionally skilled in company Compliance, who will help you to maintain the compliance for your Section 8 Company. You can get in touch with the assigned resource at any point of time for consultation and assistance regarding annual Compliance throughout your journey with Kaushikii.
Step 3: Our resource will help your Section 8 Company to maintain accounts and prepare the financial statement for each year.
Step 4: Our resource will collect all the required documents/information and will complete all below mentioned Compliance activities for your Section 8 Company.
1. Maintain Accounts and Prepare financial statements
2. Income tax return: –
3. Audit
4. Annual Filing of Forms
5. Annual returns
6. Annual General Meeting
Step 5: Our resource will collect all the required documents/information and file your Section 8 Company income tax return with ROC (Registrar of Companies) along with the mandatory documents after getting final confirmation from your finance team if required.
Step 6: Our resource will help your Section 8 Company in accounts audit.
Step 7: Our resource will draft minutes of meetings, notices and will also maintain the statutory register.
Step 8: Above 7 steps completes your Section 8 Company Compliance under Companies Act 2013.