Nidhi Company Registration
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Introduction
In India, Nidhi Companies are formed with the object of cultivating habit of thrift and savings among its members, receiving deposits from, and lending to its members only, for their mutual benefit.
Section 406 of the Companies Act, 2013, the Companies (Nidhi Companies) Rules, 2014 and Chapter XXVI of the Companies Rules, 2014 deals with the provision of Nidhi Companies.
Nidhi Rules, 2014 shall be applicable to the following:
Every company which had been declared as a Nidhi or Mutual Benefit Society under sub-section (1) ofSection 620A of the Companies Act, 1956
Every company functioning on the lines of a Nidhi company or Mutual Benefit Society but has either not applied for or has applied for and is awaiting notification to be a Nidhi or Mutual Benefit Society under sub-Section (1) of Section 620A of the Companies Act, 1956
Criteria for getting “Nidhi” Status:
Obtaining PAN has been made inevitable by the Income Tax Department for any Partnership Firm operating in India. Also, you get liable to deduct taxes at source very soon after you start your full-fledged operation. Thus TAN also becomes inevitable for you. In your association with DCS you don’t have to go anywhere else for these services auxiliary to the start up of your Firm. In addition to your Firms start up we will also look into the PAN & TAN Registrations with the Income Tax Department.
- Service Tax Registration
- Member’s requirement:
Criteria for getting “Nidhi” Status:
Obtaining PAN has been made inevitable by the Income Tax Department for any Partnership Firm operating in India. Also, you get liable to deduct taxes at source very soon after you start your full-fledged operation. Thus TAN also becomes inevitable for you. In your association with DCS you don’t have to go anywhere else for these services auxiliary to the start up of your Firm. In addition to your Firms start up we will also look into the PAN & TAN Registrations with the Income Tax Department..
- A Nidhi Company shall be a Public Company;
- Five lakhs is required as minimum paid-up equity share capital of the Company.
- Every “Nidhi” Shall have last words “Nidhi limited” as part of its name.
- A Nidhi cannot issue Preference share
Personalized Approach: We understand that every case unique. That’s why we take the time to listen to your concerns and tailor our services to your specific situation.
Client-Centric:Your satisfaction is our priority. We maintain to open communication, keeping you informed at every step of the process. Your questions and feedback are always welcome.
Introduction
In India, Nidhi Companies are formed with the object of cultivating habit of thrift and savings among its members, receiving deposits from, and lending to its members only, for their mutual benefit.
Section 406 of the Companies Act, 2013, the Companies (Nidhi Companies) Rules, 2014 and Chapter XXVI of the Companies Rules, 2014 deals with the provision of Nidhi Companies.
Applicability
Nidhi Rules, 2014 shall be applicable to the following:
- Every company which had been declared as a Nidhi or Mutual Benefit Society under sub-section (1) of Section 620A of the Companies Act, 1956
- Every company functioning on the lines of a Nidhi company or Mutual Benefit Society but has either not applied for or has applied for and is awaiting notification to be a Nidhi or Mutual Benefit Society under sub-Section (1) of Section 620A of the Companies Act, 1956
- Every company incorporated as a Nidhi pursuant to the provisions of Section 406 of the Act.
- Every Company declared as Nidhi or mutual Benefit Society under sub-section (1) of Section 406 of the Act.
Criteria for getting “Nidhi” Status:
Obtaining PAN has been made inevitable by the Income Tax Department for any Partnership Firm operating in India. Also, you get liable to deduct taxes at source very soon after you start your full-fledged operation. Thus TAN also becomes inevitable for you. In your association with DCS you don’t have to go anywhere else for these services auxiliary to the start up of your Firm. In addition to your Firms start up we will also look into the PAN & TAN Registrations with the Income Tax Department.
Service Tax Registration
A Nidhi Company shall be a Public Company; Five lakhs is required as minimum paid-up equity share capital of the Company. Every “Nidhi” Shall have last words “Nidhi limited” as part of its name. A Nidhi cannot issue Preference share.
Member’s requirement:
A Nidhi Company shall not admit Body Corporate or trust as a member. Minimum 7 members are required to start a Nidhi company, out of which 3 members must be director of the Company; Every Nidhi shall ensure that its membership is not reduced to less than two hundred members at any time. A minor shall not be admitted as a member of Nidhi.