Every Section 8 company is required to carry out the annual compliance activities outlined in the Companies Act of 2013 and the Income Tax Act of 1961. This protects the company's credibility and trustworthiness while avoiding fines for noncompliance. Compliance duties must be completed throughout the year and might be time-consuming.
Corpseed's yearly compliance package for Section 8 Companies guarantees that these responsibilities are handled by specialists for you. It saves you time and energy, allowing you to focus on the company's essential tasks.
Is annual compliance must for a section 8 company or good to have activities?
It is mandatory for all Section 8 companies to file annual compliance and other tax-related returns. Failing which will lead to heavy penalties or your Company in Defaulter list of ROC. Next step is to understand the benefits and various implications.