Frequently Asked Questions about Annual Compliance of Nidhi Limited Company
Q: What is annual compliance for a Nidhi Limited Company?
A: Annual compliance refers to the legal obligations that a Nidhi Limited Company must fulfil every year to ensure compliance with the applicable laws and regulations.
Q: What are some of the key annual compliance requirements for a Nidhi Limited Company?
A: Some key annual compliance requirements for a Nidhi Limited Company include filing of the Annual Financial Statements, Annual Returns, and Board Meeting minutes. It is also important to ensure timely payment of taxes and other statutory dues.
Q: How often should a Nidhi Limited Company hold Board Meetings?
A: A Nidhi Limited Company should hold at least four Board Meetings in a calendar year, with a minimum gap of 120 days between two consecutive meetings.
Q: Are there any specific requirements for filing the Annual Financial Statements?
A: Yes, the Annual Financial Statements of a Nidhi Limited Company must be filed with the Registrar of Companies within 30 days from the date of the Annual General Meeting. It must include the Profit and Loss Account, Balance Sheet, and other required financial statements.
Q: Can a Nidhi Limited Company skip any of the annual compliance requirements?
A: No, it is essential for a Nidhi Limited Company to comply with all the annual compliance requirements mandated by the relevant laws. Non-compliance can result in penalties and legal repercussions.