Ensure transparency, accountability, and adherence to legal obligations.

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Annual Compliances of Section 8 Company

Annual Compliances for a Section 8 Company refer to the regulatory requirements that such companies must fulfill on an annual basis. These compliances aim to ensure transparency, accountability, and adherence to legal obligations by the company.

  • Financial Statements: Section 8 Companies must prepare and submit audited financial statements, including the balance sheet, profit and loss statement, and cash flow statement.
  • Annual Returns: The company is required to file its annual returns with the Registrar of Companies (RoC), containing details such as the company’s activities, financial performance, and shareholding patterns.
  • Board and General Meetings: Minutes of the board meetings and general meetings, along with attendance registers, should be maintained and made available for inspection.
  • Statutory Registers: Section 8 Companies need to maintain various statutory registers, such as the register of members, register of directors, register of contracts, and register of investments.
  • Income Tax Returns: The company must file its income tax returns with the tax authorities, disclosing its income, expenses, and deductions, as per the applicable tax laws.
  • Financial Statements Preparation: The company’s accounts need to be prepared in compliance with the applicable accounting standards and audited by a qualified Chartered Accountant.
  • Annual Returns Filing: The company should file its annual returns with the RoC within the prescribed timeframe, providing accurate and up-to-date information.
  • Maintenance of Statutory Registers: The statutory registers must be properly maintained and updated regularly, ensuring compliance with the Companies Act, 2013.
  • Conducting Meetings: The company should hold board meetings and general meetings as per the legal requirements, maintaining proper records and adhering to the decision-making processes.
  • Income Tax Compliance: Ensure timely filing of income tax returns and payment of taxes, fulfilling the company’s tax obligations as per the Income Tax Act, 1961.

All registered Section 8 Companies, which are non-profit organizations and established with the intention of promoting charitable or social objectives, are required to comply with the Annual Compliances. These companies should hold a valid Certificate of Incorporation granted by the RoC.

  • Legal Compliance: Annual Compliances ensure that the Section 8 Company operates within the legal framework, promoting transparency and maintaining stakeholder trust.
  • Regulatory Protection: Fulfilling annual compliances helps protect the company and its directors from legal repercussions and penalties.
  • Good Governance: Complying with the annual requirements helps establish robust governance practices, fostering responsible decision-making and accountability.
  • Investor Confidence: By meeting the compliance obligations, the Section 8 Company can build confidence among potential investors, donors, and funding agencies.
  • Tax Benefits: Compliance with annual tax-related requirements enables the company to avail tax exemptions and benefits applicable to Section 8 Companies.


  1. What happens if a Section 8 Company fails to comply with annual requirements?
    Non-compliance can lead to penalties, fines, and legal actions against the company and its directors. It may also impact the company’s reputation and eligibility for tax benefits.

  2. Can the financial statements of a Section 8 Company be unaudited?
    No, Section 8 Companies are required to get their financial statements audited by a qualified Chartered Accountant.

  3. Are Section 8 Companies exempt from income tax?
    Yes, Section 8 Companies may be eligible for income tax exemptions if they meet the prescribed conditions under the Income Tax Act, 1961.

  4. Can the compliance process be outsourced to a professional firm?
    Yes, many Section 8 Companies choose to outsource their compliance requirements to experienced professionals like Trisuka to ensure accuracy and efficiency.

  5. Is it possible to change the financial year-end of a Section 8 Company?
    Yes, with proper approval and compliance with the applicable regulations, it is possible to change the financial year-end of a Section 8 Company.

**Please note that while these answers provide a general understanding, it is always advisable to consult with professionals or legal experts for specific guidance to your unique circumstances.