Quick Nidhi Company Registration Process & Tax-Compliance at Affordable Price

A Nidhi Company is approved under section 406 of the Companies Act 2013 and belongs to the NBFC (Non Banking Financial Company) Indian sector. Their business includes lending and borrowing money among members. They are also called benefit funds, permanent fund, mutual benefit company and mutual benefit funds.

A Nidhi Company takes deposits from its members and uses these deposits for lending money to its members. The fundamental aim is to safeguard the members and prevent the mistreatment of the money lenders who charge high rates of interest.

Benefits of Nidhi Limited Company Registration

Following are the advantages of nidhi company registration online:

• Easy formation
• Limited Procedure
• Reduced rates of interest
• No interference from outsider

Appropriate channel for small savings of the lower and middle parts of society

Requirement of Nidhi Finance Company Registration

• Minimum of 3 directors
• Minimum of 7 shareholders
• There is no need of minimum capital (Before it was Rs 5,00,000)
• The ratio of net owned fund to deposits of not more than 1:20

Documents Needed for Registration -

The mainly documents required for nidhi limited company registration are given below.

• Pan Card - Pan card is required for all the Directors and Shareholders of the company.
• ID Proof - Driving License, Voter Id Card or Passport. Any one Id Proof is required for all the Directors and Shareholders of the company.
• Bank Statement - Latest Bank Statement not older than 2 months is required for all the Directors and Shareholders of the company.
• Passport Size Photo - Passport size photograph is required for all the Directors and Shareholders of the company.
• Registered Office Proof - Latest Utility bill not older than 2 months, Rent agreement in case of rented property Registry Proof or House Tax Receipt in case of owned property and No Objection Certificate (NOC) from the owner
• NOC - A scanned copy of the rental agreement of the land owner NOC

Process of Nidhi Company Registration -

Although registration procedure of a nidhi company is easy yet, support from a professional is recommended for filing difficult forms within proper deadline. It may seem difficult to understand government portals and terms therein too. Let us know the steps of nidhi company incorporation process.

• KYC of all the Directors and Shareholders - At least 3 directors and 7 members are needed. Same individuals can be both members and directors. Without DIN numbers, maximum 3 members can be directors at the time of incorporation of the company.
• Digital Signature - DSC (Digital Signature) is a primary need for initiating and all the forms are submitted must be self-attested.
• Approval of Name - The suggested names of Nidhi Limited Company must be unique and should not match the names of already registered companies.
• Documentation - After digital signature and name approval, we will draft all the directors' and shareholders' declarations sheets for their acceptance, articles of association, memorandum of association and subscription sheet.
• Final Incorporation (MoA and AoA) - The application should accompany Memorandum of Association (MoA) and Articles of Association (AoA) of Nidhi Company.
• PAN and TAN - PAN and TAN applications will be done with Nidhi Company Registration.

Nidhi Finance Company Tax & Compliance

A nidhi company must file the tax and compliance form annually like any other type of company. Compliance play an important role as they help generating insights about the functions and performance of a company.

One Click Business Solutions offers end-to-end consulting and business services on Tax & Compliance for Nidhi Company. We have a dedicated team to perform annual compliance for your nidhi company. Our professionals help the clients in every steps of compliance like filling the form, get a call, submitting document, tracking progress and obtaining deliverables.