Nidhi Company ROC Tax Filing: A Complete Guide

Running a Nidhi Company comes with its own set of legal responsibilities, especially when it comes to compliance with the Registrar of Companies (ROC) and the Income Tax Department. Filing returns and documents with the ROC is mandatory to maintain your company’s active status and avoid penalties. In this blog, we’ll walk you through everything you need to know about ROC tax filing for Nidhi Companies in India.

🏢 What is a Nidhi Company?

A Nidhi Company is a type of Non-Banking Financial Company (NBFC) that is formed to lend and borrow money among its members. It operates under the Companies Act, 2013 and is regulated by the Ministry of Corporate Affairs (MCA), not the Reserve Bank of India (RBI). The primary objective of a Nidhi Company is to cultivate the habit of saving among its members.

📋 Annual Compliance Requirements for a Nidhi Company

Like any other registered company in India, a Nidhi Company has to comply with several annual filings with the ROC. Below are the key compliance requirements:

1. Form AOC-4 (Filing of Financial Statements)

• Due Date: Within 30 days of the Annual General Meeting (AGM)

• Details: Includes the balance sheet, profit and loss account, cash flow statement, and auditor’s report.

2. Form MGT-7 (Filing of Annual Return)

• Due Date: Within 60 days of the AGM

• Details: Contains information about the company’s shareholders, directors, and changes in shareholding or directorship during the year.

3. Form NDH-1 (Return of Statutory Compliances)

• Due Date: Within 90 days of the end of the financial year

• Details: Declaration of the number of members, deposits accepted, loans disbursed, etc.

4. Form NDH-3 (Half-Yearly Return)

• Due Date: Within 30 days from the conclusion of each half-year (i.e., April and October)

• Details: Includes details about members, deposits, loans, reserves, etc.

5. Form NDH-2 (Extension of Time)

• Note: This is only filed if a Nidhi Company is unable to meet the minimum compliance requirements and needs an extension.

💸 Income Tax Filing for Nidhi Company

Apart from ROC filings, a Nidhi Company is also required to file its Income Tax Return (ITR).

6. Income Tax Return (Form ITR-6)

• Due Date: Usually 30th September of the assessment year

• Details: Includes all income, expenses, depreciation, profit/loss, etc.

• Tax Rate: As per the applicable income slab and corporate tax provisions

⚠️ Penalties for Non-Compliance

Non-compliance with ROC and tax filing requirements can lead to:

• Heavy penalties and fines

• Disqualification of directors

• Company being marked as inactive

• Legal prosecution in extreme cases

✅ Tips for Smooth Compliance

• Maintain accurate records: Bookkeeping should be updated throughout the year.

• Hire a professional: Consult a CA or CS for timely and error-free filing.

• Set reminders: Use compliance calendars to keep track of due dates.

• Use online tools: Leverage MCA portal and tax filing software for easy submissions.

✍️ Conclusion

Filing ROC returns and tax returns on time is crucial for the legal standing and smooth functioning of a Nidhi Company. Regular compliance not only builds trust with your members but also keeps regulatory troubles at bay. If you’re unsure about how to proceed, it’s always a good idea to seek professional assistance to ensure everything is done right.