DOCUMENT REQUIRED

Under the Companies Act, 2013, registering a Private Limited Company requires submitting various documents to the Ministry of Corporate Affairs (MCA). Below is the complete list of documents you need to prepare for a hassle-free registration process:

 

1. Documents for Directors and Shareholders

A. Identity Proof

• For Indian Citizens:
  → PAN Card (mandatory)
• For Foreign Nationals:
  → Passport (Notarized and Apostilled, if outside India)

B. Address Proof

Any one of the following:

• Aadhaar Card
• Voter ID
• Passport
• Driving License

The address proof must be recent (not older than 2 months).

C. Photograph

• Passport-sized photograph of all directors and shareholders.

 

2. Documents for Registered Office

A. Proof of Address

Any one of the following documents:

• Recent Utility Bill (Electricity, Water, or Gas Bill)
• Property Tax Receipt
• Sale Deed (if owned property)

B. Rent Agreement and NOC

• Rent Agreement (if the registered office is on rented premises).
• No Objection Certificate (NOC) from the property owner allowing the use of the premises as the company’s registered office.

A NIDHI Company is a Non-Banking Financial Company (NBFC) established to encourage savings and lend to its members for mutual benefit. Registering a NIDHI Company in India is governed by the Companies Act, 2013 and the NIDHI Rules, 2014. Follow this step-by-step process to incorporate your NIDHI Company:

 

Step 1: Obtain Digital Signature Certificate (DSC)

• All directors and subscribers must have a Digital Signature Certificate (DSC) to file electronic forms.
• Obtain DSC from a government-authorized certifying agency.

Step 2: Apply for Director Identification Number (DIN)

• Directors must apply for a Director Identification Number (DIN) through the SPICe+ form during registration.
• Required documents: Identity proof, address proof, and a passport-sized photograph.

 

Step 3: Reserve a Unique Company Name

Use the RUN (Reserve Unique Name) service on the MCA portal to propose a unique name for your company.

• Ensure the name complies with the Companies Act, 2013, and is not similar to existing entities or trademarks.

 

Step 4: Prepare MOA and AOA

• Draft the Memorandum of Association (MOA) and Articles of Association (AOA) for your NIDHI Company:
  → MOA: Defines the objectives of the company, such as encouraging savings and lending among members.
  → AOA: Outlines the rules and regulations governing the company’s internal operations.

 

Step 5: File SPICe+ Form for Incorporation

• The SPICe+ (Simplified Proforma for Incorporating a Company Electronically Plus) is an integrated form for:
  → Company incorporation
  → DIN allotment
  → PAN and TAN application
• Fill in details such as the company name, registered office address, and director information.
• Upload the required documents, including MOA, AOA, identity proofs, and address proofs.

 

Step 6: Deposit Minimum Paid-Up Capital

• Deposit at least ₹10 lakhs as the paid-up capital in the company’s bank account, as per the NIDHI Rules, 2014.

 

Step 7: Submit Required Documents

• Upload the following documents during the registration process:
  → PAN Card and address proof of directors and shareholders
  → Proof of registered office (Electricity Bill, Rent Agreement, NOC)
  → MOA and AOA signed by directors and shareholders
  → Declaration in Form INC-9

 

Step 8: Certificate of Incorporation

• Upon successful verification of documents and application, the Registrar of Companies (ROC) issues a Certificate of Incorporation.
• The certificate contains the Corporate Identification Number (CIN) and serves as proof of company registration.

 

Step 9: Post-Incorporation Compliance

1. Commencement of Business Certificate: File Form INC-20A within 180 days of incorporation to declare the commencement of business.
2. Membership Requirement: Ensure a minimum of 200 members within the first year of operation.
3. Deposit Ratio: Maintain a deposit-to-loan ratio of 1:20, as mandated by the NIDHI Rules.
4. Compliance Filings: File annual returns, financial statements, and applicable tax returns regularly.

A Nidhi Company, registered under the Companies Act, 2013, must comply with several regulatory and operational requirements as outlined by the NIDHI Rules, 2014. Here’s a detailed list of mandatory compliances for a Nidhi Company:

 

1. Filing of Annual Returns

• Form MGT-7: Submit the annual return within 60 days of the Annual General Meeting (AGM), detailing the company’s shareholders, directors, and members.

 

2. Filing Financial Statements

• Form AOC-4: File the audited financial statements, including the Balance Sheet and Profit & Loss Account, within 30 days of the AGM.

 

3. Membership Requirement

• Ensure a minimum of 200 members within the first year of incorporation.
• Maintain compliance with membership requirements as per NIDHI Rules.

 

4. Net Owned Fund (NOF) Ratio

• Maintain a Net Owned Fund (NOF) to deposit ratio of 1:20, ensuring deposits do not exceed 20 times the NOF.

 

5. Commencement of Business

• File Form INC-20A within 180 days of incorporation, declaring the commencement of business operations.

 

6. Board Meetings

• Conduct a minimum of 4 board meetings annually, ensuring a gap of no more than 120 days between two consecutive meetings.

 

7. Restrictions on Operations

• A Nidhi Company must not:
  → Carry out activities related to chit funds, leasing, or hire purchase.
  → Issue preference shares or debentures.
  → Advertise for deposits.
  → Accept deposits from or lend to non-members.

 

8. Deposits Compliance

• Only accept deposits from members and ensure:
  → Deposits are repayable only after 6 months.
  → The maximum tenure for fixed deposits does not exceed 60 months.
  → The interest rate is in line with NIDHI Rules.

 

9. Loans Compliance

• Provide loans only to members with secured collateral, such as gold, property, or fixed deposits.

 

10. Filing Form NDH-1

• Submit Form NDH-1 within 90 days of the financial year-end, declaring the number of members, deposits, and loans.

 

11. Filing Form NDH-2

• File Form NDH-2 to request an extension of time if the company fails to meet the membership or deposit requirements within the stipulated time.

 

12. Filing Form NDH-3

• File a half-yearly return in Form NDH-3 within 30 days from the end of each half-year, providing details of deposits and loans.

 

13. Auditor Appointment

• Appoint a statutory auditor within 30 days of incorporation to audit the company’s financial records annually.

 

14. Statutory Registers

• Maintain statutory registers, including:
  → Register of Members
  → Register of Loans
  → Register of Fixed Deposits

 

15. Director KYC Compliance

• Directors must submit their KYC details annually in Form DIR-3 KYC.

 

16. Tax Compliance

• File the company’s Income Tax Return (ITR-6) annually.
• Deduct and deposit TDS (if applicable) and file quarterly TDS returns.

 

17. Corporate Social Responsibility (CSR)

• If the company meets the CSR threshold, comply with CSR provisions as per Section 135 of the Companies Act, 2013.

 

Penalties for Non-Compliance

Failure to comply with NIDHI Rules or the Companies Act can result in:

• Financial penalties
• Suspension of operations
• Directors being held personally liable for defaults.

WHY CHOOOSE TAX GUIDER

One Stop Solution– From registering the business to compliance, we’ve got it all covered.

Affordable & Transparent Pricing – No hidden charges, just fair and competitive pricing.

Reliable – Reliable service with a commitment to on-time delivery.

4.9/5 Google Rating – 99% of our clients have awarded us a 5-star rating on Google.

Expert Team – Chartered accountants and Company Secretarries with years of experience.

Non-Stop Support – We’re ready to assist you whenever you need us.