Section 8 companies must hold board meetings and an AGM, get accounts audited, file AOC-4 and MGT-7 with the ROC, file ITR-7 with the audit report in Form 10B or 10BB, submit Form 10BD for donations if 80G approved, and follow licence conditions such as no dividend and application of income to objects.
ROC compliance
- Board meetings (relaxed frequency for Section 8)
- AGM within six months of year end
- AOC-4 and MGT-7
- DIR-3 KYC
Income tax compliance
- Audit report in the prescribed form
- ITR-7 by the due date
- Form 10BD by 31 May and 10BE certificates
Licence conditions
No distribution of profits, prior approval for certain changes, and application of assets to similar objects on winding up.
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Get expert help →Consequences
Violation can lead to revocation of the licence, penalties and loss of tax exemption.
Frequently asked questions
How many board meetings must a Section 8 company hold?
Section 8 companies enjoy relaxation, with at least one meeting in each half of the year in many cases, subject to the rules.
Is MGT-7A applicable?
Small companies and OPCs file MGT-7A; Section 8 companies generally file MGT-7.
Can a Section 8 company change its objects?
Yes, with prior approval of the Registrar under the licence conditions.
What if ITR-7 is filed late?
Exemption can be denied for delayed filing in certain cases, so file on time.
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