Nidhi company registration in T-nagar Chennai | Solubilis
Nidhi company registration in T-nagar Chennai denotes treasure or money. Nidhi is referred in the NBFC. It is regulated under Section 406 of the companies Act 2013. The main motto of the Nidhi company is the lending and borrowing of the money which can be utilized for the benefit of the members. Mostly the south India makes use of the Nidhi Company. The minimum number of the Directors is 3 and the minimum number of the shareholders is 7. Nidhi company registration in t-nagar Chennai states the restrictions on Nidhi Company. It cannot take part in the chit fund activity. It cannot take part in lease financial activity. The minimum paid up capital is Rs.5 lakh. Only secured loans can be given. That is the security for the amount given may be the gold, silver or the diamond. And also it should not exceed 1 year for the repayment of the loan amount. Mostly this type of company structure is feasible for middle and lower class people. No external involvement in management. Only minimum documents are required.
Benefits of Nidhi Company registration in t nagar chennai
The benefits of Nidhi Company are there is no minimum share; from group members it is very easy to get the money and the transfer of ownership is very easy. There are lower rate of interest and the investment is secured. Just by pledging the jewels and can get the amount from the Nidhi Company and if you get maximum amount of yours can be used to release the jewels from the Nidhi Company. Documents required for the Nidhi Company registration in kodampakkam Chennai are: PAN card copy, passport size photograph, bank statements and the Electricity and the Telephone bill. Also copy of rent agreement, No objection certificate and the proof of the registered office should be included. Apart from nidhi company registration we also involve in udyam registration in chennai and AEPC Registration in chennai.
The Procedure for the Nidhi Company Registration in madavaram Chennai is as follows. Firstly get the DSC and the DIN. The DSC is Digital Signature Certificate and the DIN is Director Identification Number. The name should be chosen. The name should be very unique and not similar to the others. The name should have the approval. And also it should be verified. All the supported documents should be submitted as mentioned in the documents required. When all the formalities are taken and when the ROC is satisfies the Nidhi registration is done. Nidhi Company Registration in egmore Chennai explains the compliances requirements. They are: NDH-1 is a yearly form. It should be filed by the ROC as per Nidhi rules. If the return is not filed with time then the company will lose the Nidhi status. Apart from nidhi company registration we also involve in NBFC Registration and company registration. It happens according to the Companies Act 2013. NDH-3, it is half-yearly return which is to be filed with ROC. This is to check whether the Nidhi company is working according to ROC or not. Within 30th September and 31st March this should be filed. There are other acts also coming into compliances for Nidhi. They are Income tax Act, Company Act and the money laundering Act.
PMLA (Prevention of Money Laundering Act)
The PMLA Act came into force in the year 2002, has 3 objectives. They are: to prevent and to control the money laundering, to confiscate and to seize the property which was obtained from the laundered money and also to deal with many other issues which are all connected with money laundering. And Nidhi Company Registration in mogappair Chennai explains some of the popular activities through which the money is laundered. They are: through stock markets, false import and export devises, showing the loans, creating bogus companies, property markets and through agricultural products, money used for the terrorist acts, drug trafficking, smuggling, bribery corruption, gambling, bribery and the cheating are the most common illegal activities from which you can gain money. Apart from nidhi company registration we also involve in PAN Registration and TAN Registration.
Offence money laundering
The Nidhi Company Registration in Chennai explains that whosoever directly or indirectly who attempts to involve in the process connected with possession of untainted property shall be found guilty of offense of money laundering. Apart from nidhi company registration we also involve in HUF registration and section 8 company registration. In short it can be defined as the changing of money from illegal means into the legitimate money is called the offence of money laundering.
Features of the Nidhi Company
The Nidhi Company Registration in Chennai explains the salient features. They are it requires very few basic forms. Only 10 to 15 days are needed to form the Nidhi Company. And also it requires the cost efficient registration, which means, the registration can be defined as the pocket friendly cost. There are no RBI rules and the regulations. Apart from nidhi company registration we also involve in trust registration and society registration. The RBI has exempted the Nidhi so no need to hurry run with the documents. The Nidhi can money deposit and can lend the money to the members and so that the risk of not receiving the non-payment of the loans is less when compared with other financial institution. When the amount of capital invested by the members of business to raise funds is called net owned fund. And the most beneficiary act is the software used in the Nidhi Company is extremely useful and beneficial and friendly software. It can be acquired on the reasonable price. The main aim to start the Nidhi Company is to develop the habit of the savings in a wise and the useful manner. It urges the members to save the money and to use in a valuable way. Nidhi Company Registration in Chennai gives some of the examples of the Nidhi Companies. They are: Mutual benefit funds, permanent funds, benefit funds and the mutual benefit company. The habit of saving money is encouraged.