Nidhi Company Registration
The main reason as to why the Nidhi Company is so famous between the business communities is the Nidhi Company is very easy and inexpensive to register.
How can we help in getting registration?
Our services include the following…
- Assured Name approval from the Ministry of Corporate Affairs (MCA)
- Trusted by more than 4,00,000 clients
- DSC’s and DIN for subscribers and directors
- Filling of company incorporation e-forms with the MCA
- Drafting objective, Memorandum of Association (MOA) and Article of Association (AOA)
- PAN and TAN
- Business plan guidance
- The legal agreement, corporate drafts set, letters on requirement basis.
- Identity and Address Proof of Directors and Shareholders.
- Registered Office Proof
Nidhi Company is one of the categories of Non-Banking Financial Company (NBFC) that does not require any Reserve Bank of India (RBI) license. Nidhi Companies are limited companies formed for cultivating the habit of thrift and savings amongst its members. It borrows from members and lends to members only.
Prohibition of certain activities in a Nidhi Company
The Nidhi Companies have to abide by certain prohibitions that are imposed on them in terms of their activities. Following are certain under which Nidhi Company cannot deal, accept deposits and lend funds:
- Chit Funds
- Hire-purchase finance
- Leasing of finance
- Insurance Business
- Securities Business
- Non-acceptance of deposits from any other person except members.
- Cannot lend funds to any other person except members.
Compliances After Nidhi Company Registration
Once you have successfully registered the Nidhi Company make sure that you comply with these requirements to avoid cancellation of your registration or penalties. The following table will help you to understand the post compliances relating to Nidhi Companies in a simple manner:
|Form NDH-1||This form needs to be filed within 90 days from the closure of every financial year|
|Form NDH-2||This form is used to request MCA to allow extension of time in case a Nidhi Company is not able to add 200 members in its first financial year|
|Form NDH-3||This form is used to file half yearly returns|
|Form MGT-7||This form is used to file Annual Returns|
|Form AOC-4||To file financial statements and other related documents|
|Income Tax Return||Needs to be filed by 30th September|