The literal meaning of Nidhi is āfundā, āfinance or treasureā. Nidhi Company is incorporated with the object of developing the habit of thrift and save and reserve the funds amongst its membersĀ and also receiving deposits and lending from and to its members only, for their mutual benefit.
Though there are no separate registrations to be done under RBI for a Nidhi company, RBI has the power to issue directives to them. However, Nidhi company needs to fulfill the minimum requirements for the registration, which are as follows:
Nidhi Company is required to file returns twice a year and yearly returns once with ROC every year. Apart from this Nidhi Company is also required to file its Financial Statements in Form AOC 4 and Annual Return in form MGT 7 annually with ROC.
Every NidhiĀ CompanyĀ is required to comply with provisions of Companies Act, 2013 and Nidhi Rules, 2014. In a way every Nidhi Company is a Public Limited Company. Hence it requires to follow all the provisions applicable to Public Limited Company unless exempted from compliance of specific section with or without any modification.
Form NDH 3 is a half yearly compliance of Nidhi Company. It contains the details of No. of Members admitted and ceased during the half year, details of members, Loan etc Form NDH 3 to be filled with ROC within 30 days from the close of each half year.
This is a Statutory compliance of Nidhi Company. Form NDH 1 contains all the details regarding the members, loans , deposits, reserves etc for the full financial year. Every Nidhi Company is required to file Form NDH-1 with ROC within 90 days form the closure of Financial Year.
Like every other company, Nidhi Company is required to file its Financial Statements, along with Notice calling General Meeting, Directors Report, Auditors Report and Balance sheet to ROC within 30 days from the date of Annual General Meeting of the Company.
Every Nidhi company is required to file its Annual Return along with List of members of Nidhi Company within 60 days from date of Annual General Meeting. The annual returns are to be filed in Form MGT 7 with ROC.
Nidhi CompanyĀ isĀ also required to report any resolutions passed for Disclosure of Directors interest, Approval of Financial Statements and Directors Report. if any to the ROC in Form MGT 14.
Nidhi companies are required to file its Income tax return in Form ITR 6 within the period of 6 months from the closure of financial year. Hence the due date for filing Form ITR 6 would be 30th September every year.
*Subject to Government Processing Time
Every Nidhi Company needs to file an annual return. The annual return is also available for public inspection once payment of prescribed fees is made to the Registrar.
Every Nidhi Company is required to File Form NDH-3 with ROC within 30 days from the close of each half year. i.e.Ā 30th April for the half year ending on 31st March and 30th October for the half year ending on 30th September
MCA Form AC 4 must be filed within 30 days from the date of AGM That means if AGM is on 30th September then E-form AC 4 due date would be 29th October While MCA Form MGT7 should be filed within 60 days from the date of AGM. That means if AGiM is on 30th September then ROC Form MGT 7 due date would be 28th November.