Nidhi Company Registration in India
Apply for your Nidhi Company Registration in Tamil Nadu and across all parts of India online. Know the procedures and formalities to get your registration done through Tax Robo.
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Basic Package ₹ 39999/-
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MOA & AOA Drafting, Digital Signature Certificate 2 Years Validity (7 Persons), Name Approval, PAN & TAN,
Nidhi License
, Open a Business Bank Account.
Online Nidhi Company Registration
Nidhi Company, belongs to the non-banking sector of India (NBFC) and is recognized under section "406" of the Companies Act, 2013.
What is Nidhi Company?
Nidhi Company belongs to the non-banking sector of India (NBFC) and is recognized under section "406" of the Companies Act, 2013. Their main function is to borrow and borrow money from their members. Nidhi companies are designed to develop a saving practice among members.
Nidhi companies can only receive/borrow money from / its members. They are regulated by the Ministry of Corporate Affairs, Section "406" of the Companies Act 2013, and the Nidhi Companies Rules, 2014 which regulates Nidhi companies. The Reserve Bank of India is empowered to provide guidance to them on matters relating to their deposit receipts. However, as Nidhi companies only receive/borrow money from its members, the RBI exempts Nidhi companies from the NBFC's key provisions or regulations.
Important Legal Registration Required for Nidhi Company
GST Registration for Nidhi Company
PF & ESI Registration for Nidhi Company
Advantages of Nidhi Company Registration:
- The name must contain "Nidhi Limited";
- A Nidhi company to be included under this Act shall be a "Public Company";
- It must have a minimum equity share of Rs. 5,00,000 / -;
- There will be no issuance of shares preferred by Nidhi Company. (If such shares have been issued by Nidhi Company prior to the commencement of this Act, such shares shall be redeemed in accordance with the terms of the issuance of such shares)
- The purpose of Nidhi was to in still in the members a practice of preservation and conservation and that services would be limited only to its members.
Nidhi Company Registration Requirements
Every Nidhi must, within one year from the start, meet the following criteria:
- Must have at least 200 members,
- It must also ensure that the funds held by Rs. 10,00,000/- or more,
('Net Managed Assets' means a combination of cash and cash equivalents held as reduced by the accumulated intangible assets reflected in the last checked balance) - It must also ensure that the amount of money held by investors does not exceed 1:20.
- Must have countless term digits of not less than 10% of the remaining deposit.
If Nidhi Company meets the above conditions, the Company within 90 days from the end of the first financial year after filing, filing an NDH-1 formally certified by Practicing CA / CS / CWA and the prescribed fees.
Start with the customer – find out what they want and give it to them.
Restrictions on Nidhi companies engage any Business:
There are certain restrictions on Nidhi companies under the Nidhi Rules, 2014. In accordance with Rule '6' of the Nidhi Rules, 2014, Nidhi Company must not:
- Continue the Business of
• Chit Fund,
• Rent of purchase funds,
• Financial leasing,
• Insurance or Security Acquisitions issued by anyone working for the company.
- Withdraw Preferred Shares, Debts or any Other Credit Tool by any name or by any means.
- Open any current Account and its members.
- Find another company by Purchasing securities or controlling the formation of the Board of Collectors of any company in any way or by entering into any change to change its management unless it approves a Special Decision at its general meeting and the first approval of the Regional Director.
- Do any Business without borrowing / lending in its own name.
(Nidhi who adhere to all the provisions of the Nid Code may provide rental locks to its members for rent, but the rental income from these properties may not exceed 20% of the nid revenue at any one time.) - Receive or lend money to anyone, other than its members.
- Promise any goods placed by their members as security,
- Take Deposes or lend money to any physical company,
- Enter into any partnership program for its loan or loan activities,
- To remove or cause to be issued any advertisement by any form of solicitation,
(Private confidentiality of Fixed Deposit Scheme information among Nidhi members with the term "Private Membership Only" will not be considered an advertisement.) - Pay any trade or incentive to promote deposits from members or remittances or loans.
Online NIDHI Company Registration:
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Nidhi company Registration Packages
Basic Package
₹39999 .00
* All Exclusive
- MOA & AOA Drafting
- Digital Signature Certificate 2 Years Validity (7 Persons)
- Name Approval
- PAN & TAN
- Incorporation Fees Authorised Capital Of Rs. 15 Lakhs (minimum required for 20 lakhs)
- Nidhi License
- Incorporation Certificate
- Appoint First Auditor of the Company
- Open a Business Bank Account
- Lifetime expert support
Family Auditor
₹44999 .00
* All Exclusive
- MOA & AOA Drafting
- Digital Signature Certificate 2 Years Validity (7 Persons)
- Name Approval
- PAN & TAN
- Incorporation Fees Authorised Capital Of Rs. 15 Lakhs (minimum required for 20 lakhs)
- Nidhi License
-
Free Experts Consulting
- Incorporation Certificate
- Share Certificate
- Secretarial Registers
- Appoint First Auditor of the Company
- Open a Business Bank Account
-
Accounts Robo ERP Software
-
Lifetime expert support
Important Steps before Incorporation of Nidhi company
Knowledge of the Business
✓ Do you have previous experience in the same Business? how many years?
✓ Product analysis with the questions of whether the product is under any restricted sales in India eg. Cement, Steel.
Marketing Strategy
✓ Marketing strategy is available with target customers.
✓ Pricing of products and margin available in the product.
Growth of the Business
✓ Growth of the Business in India for the next 5 to 10 years.
✓ Feasibility report of the Business and products.
✓ Business plans and projected Financial Product for 5 years.
Funds – Working Capital
✓ Sufficient working capital required for running the Business for a minimum period of 3 months. The funds can be own funds or Bank funds.
✓ How many months of Investment in the Business have required, returns on investments, and working capital funds available for fixed expense months?
Step 1
Obtain Dsc for Directors And Apply Name Approval (After Check Company Name Availability)
Step 2
Incorporation Of Documents (Draft Sent To You For Confirmation)
Step 3
File Spice + Forms
Step 4
Get Incorporation Certificate, Pan, TAN & Bank Accounts
Registration Process of Nidhi Company
Usually Nidhi Company Registration Process in India takes up to 45 days, Registration of a Nidhi Company consists the following steps:
- Minimum 7 Members and 3 Directors will be required to start the Incorporation of Nidhi Limited.
- Apply for DIN and DSC.
- After getting the DIN and DSC, file an application in INC-1 to MCA for reservation of name of Nidhi Company.
Once the name is approved, Prepare Memorandum of association and Articles of Association according to Nidhi objects and all other required documents carefully. - Apply for Incorporation.
- Get Incorporation Certificate.
- Apply for PAN and TAN
Documents required for incorporation of a Nidhi Company
ID Proof
Scanned copy of PAN Card, Voter ID, Passport , Driving License
Registered Office Proof
No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property) / Registry Proof or House Tax Receipt (in case of owned property)
Address Proof
Latest Bank statement/ Utility bill in the name of director which should not be older than two months
Photo
Latest passport size photograph
Further Documents for Nidhi Company Registration
Usually Nidhi Company Registration Process in India takes up to 45 days, Registration of a Nidhi Company consists the following steps:
- Copy of PAN of Directors and Shareholders.
- Copy of ID Proof of Directors and Shareholders. (Voter ID, AADHAR, Driving License, Passport)
- Copy of Address Proof of Directors and Shareholders (Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill)
- Passport size Photographs.
- Property Ownership Documents of Registered office premises:
- If property is owned: Electricity bill + Ownership Documents + NOC (if required)
- If property is rented: Electricity bill + Rent Agreement + NOC
Compliance after Incorporation of Nidhi Company Online
Statutory Obligations
✓ File GST return every month without delay
✓ PF & ESI return filing
✓ TDS Payments & Return filings
✓ Advance Tax payments
✓ File Income Tax return by every year before due date
Compliances
✓ GST registration
✓ PF & ESI Registration if applicable
✓ Profession Tax registration
✓ Import & Export Code registration
✓ STPI Registration / SEZ registration
✓ Secretarial compliance required for passing resolutions, Change in Management, entering contracts, loan obligations etc
Accounts & Operations
✓ Open a Bank account with one Private Bank and one scheduled Bank
✓ Get one accounting software with GST facility
Performance
✓ Review Financial Products performance by every 3 months
✓ Compare the budget amount with actual Financial Products results