Prince Kunal

October 23, 2015 By Prince Kunal

Exemptions and Relaxations to Nidhi Companies From Few Provisions of Companies Act, 2013

The Companies Act, 2013 has given due recognition to Nidhi Companies by treating them as a special class of companies. An entire Chapter, namely Chapter XXVI has been devoted to Nidhi Companies and relevant Rules also notified for them.

Section 406 of the Act defines a Nidhi to mean “a Company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings among its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulations of such class of Companies.

Apart from the rules which were specially notified in relation to Nidhi Companies, all other provisions of the Act applied to them in the same way as to any other company. Hence a need was there to grant certain reliefs to these special class of companies.

The Ministry of corporate Affairs has by way of notifications dated 5^th June, 2015, released the most anticipated exemptions for Government Companies, Private Companies, Nidhi Companies and Companies registered under Section 8 of the Companies Act, 2013 (Act).

This write-up presents an insight on the exemptions provided by means of these notifications to Nidhi Companies. Write-ups on Exemptions to Private Companies and Companies registered u/s 8 of the Act and Government Companies has already been circulated.

EXEMPTIONS TO NIDHI COMPANIES

SERVICE OF DOCUMENTS TO MEMBERS

Nature of Exemption

Impact of the Exemption

Section 20, sub-section 2 shall apply to the modification that in the case of Nidhi, the document may be served only on members who hold shares of more than one thousand rupees in face value or more than one percent of the total paid-up share capital of the Nidhis whichever is less.For other shareholders, document may be served by a public notice in newspaper circulated in the district where the Registered Office of the Nidhi is situated; and publication of same on the notice board of the Nidhi.

This provision grants a relief to the Nidhi Companies from sending documents, notices etc. to every member of the company by providing that for small shareholders (i.e. those holding shares of one thousand rupees or less in face value or one percent or less of the total paid-up share capital of the Nidhis whichever is less), documents can be served by a public notice in newspaper circulated in the district where the Registered Office of the Nidhi is situated; and publication of same on the notice board of the Nidhi.

PRIVATE PLACEMENT OF SECURITIES

Nature of Exemption	Impact of the Exemption
Section 42 except sub-section (1), explanation (II) to sub-section (2), sub-section (4), (6), (8), (9) and 10 shall not apply	Few procedural requirements in relation to private placement like maintenance of record of private placement; restriction on receipt of subscription money in cash etc. has been relaxed for Nidhi Companies.

FURTHER ISSUE OF SHARE CAPITAL

Nature of Exemption	Impact of the Exemption
Section 62 shall not apply	The restrictions of Section 62 relating to further allotment of shares only by means of Rights Issue, Employee Stock Option or Preferential Allotment will not apply to Nidhi Companies. This means that Nidhi Companies can make further allotment of their shares without having to comply with requirements of Section 62.

BUY-BACK OF SHARES

Nature of Exemption	Impact of the Exemption
Section 67(1) shall not apply, when shares are purchased by the company from a member on his ceasing to be a depositor or borrower and it shall not be considered as reduction of capital under section 66 of the Companies Act, 2013	Section 67(1) restricts a company from buying its own shares unless reduction of capital is carried out as per provisions of the Act. This restriction is relaxed for a Nidhi Company when shares are purchased by the company from a member on his ceasing to be a depositor or borrower.

PAYMENT OF DIVIDEND – TO WHOM AND IN WHAT MODE

Nature of Exemption	Impact of the Exemption
Section 123, sub-section (5) shall apply, subject to the modification that any dividend payable in cash may be paid by crediting the same to the account of the member, if the dividend is not claimed within 30 days from the date of declaration of the dividend.	Section 123(5) contains a restriction that dividend can only be paid to the member or to his order or banker and can be paid in cash only. For Nidhi Companies, this provision provides an alternative that if the dividend is not claimed by a member within 30 days from the date of declaration, then the same may be paid by crediting it to the account of the member.

POSTING OF DIVIDEND WARRANT TO INDIVIDUAL MEMBERS

Nature of Exemption

Impact of the Exemption

Sub-section (1) of Section 136 shall apply, subject to the modification that, in the case of members who do not individually or jointly hold shares of more than one thousand rupees in face value or more than one per cent. of the total paid-up share capital whichever is less, it shall be sufficient compliance with the provisions of the section if an intimation is sent by public notice in newspaper circulated in the district in which the Registered Office of the Nidhi is situated stating the date, time and venue of Annual General Meeting and the financial statement with its enclosures can be inspected at the registered office of the company, and the financial statement with enclosures are affixed in the Notice Board of the company and a member is entitled to vote either in person or through proxy

This provision provides a relief to the Nidhi Companies that instead of sending financial statements to all individual shareholders, for all those shareholders who do not individually or jointly hold shares of more than Rs. 1000/- in face value or more than 1% of the total paid-up share capital whichever is less, the company can make newspaper announcement stating matters as mentioned in the left hand column.

DEPOSIT AMOUNT FROM PERSON PROPOSED TO BE APPOINTED AS DIRECTOR IN AGM

Nature of Exemption	Impact of the Exemption
Section 160, in sub-section (1), for the words “one lakh rupees”, the words “ten thousandrupees” shall be substituted.	The amount of deposit to be taken by a company from a person proposed to be appointed as director in an AGM (other than retiring director) has been reduced from Rs. 1,00,000/- to Rs. 10,000/- for a Nidhi Company.

LOANS TO DIRECTORS AND THEIR RELATIVES

Nature of Exemption	Impact of the Exemption
Section 185 Shall not apply, provided the loan is given to a director or his relative in their capacity as members and such transaction is disclosed in the annual accounts by a note.	The restriction under Section 185 from giving loan to directors and other interested entities has been relaxed for Nidhi Companies, provided the loan is given to a director or his relative in their capacity as members and such transaction is disclosed in the annual accounts by a note.

REMUNERATION TO MANAGERIAL PERSONNEL

Nature of Exemption

Impact of the Exemption

Second proviso to subsection (1) of section 197 shall apply with the modification that the remuneration of a director who is neither managing director nor wholetime director or manager for performing special services to the Nidhis specified in the articles of association may be paid by way of monthly payment subject to the approval of the company in general meeting and also to the provisions of section 197 :Provided that no approval of the company in general meeting shall be required where,-(a) a Nidhi does not have a managing director or a whole-time director or a manager;(b) the remuneration payable during a financial year to all the directors of the Nidhi does not exceed ten per cent of the net profits of such Nidhi or fifteen lakh rupees, whichever is less; and(c) a remuneration payable under clause (b) is approved by a special resolution passed in this behalf by the Nidhi.

This provisions grants relief to Nidhi Companies for payment of remuneration to directors other than managing director, wholetime director or manager for performing special services and for seeking approval of members in specified cases as mentioned in the left hand column.

FILING FEES FOR RETURN OF ALLOTMENT

Nature of Exemption	Impact of the Exemption
Section 403 Shall apply, with the modification that the filing fees in respect of every return of allotment under sub-section (9) of section 42 shall be calculated at the rate of one rupee for every one hundred rupees or parts thereof on the face value of the shares included in the return but shall not exceed the amount of normal filing fee payable.	Filing fees to be paid to ROC for filing return of allotment has been reduced

Download a copy of Notification of government of India giving exemptions and relaxations to Nidhi Companies from few provisions of companies act, 2013

Exemptions and Relaxations to Nidhi companies from few provisions of companies act, 2013

In case, you have any doubt, please feel free to call us at +91-7050515253, +91-8540099000

Topic of the article:

Exemptions and Relaxations to Nidhi Companies From Few Provisions of Companies Act, 2013

This article is written by: ACS Prince Kunal
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October 22, 2015 By Prince Kunal

What is Professional Tax ? Who needs to get Professional Tax registration ? Who is best professional tax consultant in Patna BIhar ?

PROFESSIONAL TAX REGISTRATION IN PATNA BIHAR INDIA SAMASTIPUR MUZAFFARPUR BUXAR ARA JHARKHAND JAMSHEDPUR

Professional Tax Registration and Compliance

Professional Tax is a tax levied by the State government. Professional tax is levied on income however earned in any trade and is usually paid by the employer. The provision detailing the stipulations attached to Provisional Tax, caps the total professional tax payable in respect of any one person to the State or to any local authority in the State by way of taxes on professions, trades, callings and employments shall not exceed two hundred and fifty rupees two thousand and five hundred rupees per annum.

Introduction to Professional Tax

Professional tax is just like Income Tax except for the fact that Income Tax is collected by the Central Government and Professional Tax is collected by the State Government. When this tax was first introduced in India, the maximum limit on the tax to be collected was Rs. 250.

Some of the State Governments have represented that the earlier celling of two hundred and fifty rupees which was fixed in 1949, needs to be revised upwards taking into consideration the price rise and other factors. It is also pointed out that the profession tax has, at present, become almost regressive because of the ceiling since even people with high salaries have to pay this tax at only the maximum amount of two hundred and fifty rupees per annum. The upward revision of profession tax has helped the State Governments in raising additional resources.

Professional Tax Rate

The maximum amount payable per annum towards professional tax is INR 2,500. The professional tax is usually a slab-amount based on the gross income of the professional. It is deducted from his income every month. The state governments of the following states have levied professional tax – Karnataka, West Bengal, Andhra Pradesh, Maharashtra, Tamil Nadu, Gujarat, Assam, Chhattisgarh, Kerala, Meghalaya, Orissa, Tripura and Madhya Pradesh. In case of Salaried and Wage earners, the Professional Tax is liable to be deducted by the Employer from the Salary/Wages and the Employer is liable to deposit the same with the state government. In case of other class of Individuals, this tax is liable to be paid by the person himself.

Employer’s Responsibility for Professional Tax

The owner of a business is responsible to deduct professional tax from the salaries of his employees and pay the amount so collected to the appropriate government department. He/she has to furnish a return to the tax department in the prescribed form within the specified time. The return should include the proof of tax payment. In case the payment proof is not enclosed, the return shall be deemed incomplete and invalid

Professional Tax Registration

Professional tax registration application must be to the State’s tax department within 30 days of employing staff in a business. If there is more than one place of work, application must be made separately to each authority as regards the place of work coming under the jurisdiction of that authority

Delay in obtaining Professional Tax Registration Certificate incurs a penalty of Rs. 5/- per day. In case of non/late payment of profession tax, penalty will be 10% of the amount of tax. In case of late filing of returns, a penalty of Rs. 300 per return will be imposed.

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Topic of this page:

PROFESSIONAL TAX REGISTRATION IN PATNA BIHAR INDIA SAMASTIPUR MUZAFFARPUR BUXAR ARA JHARKHAND JAMSHEDPUR

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October 18, 2015 By Prince Kunal

How to get Pradhan Mantri MUDRA Yojana (PMMY) Loan

MUDRA or Micro Units Development & Refinance Agency Limited is an institution setup by the Government of India for development and refinancing activities relating to micro units. MUDRA was announced by the Hon’ble Finance Minister in the 2016 Budget. Under MUDRA, loans are provided under three schemes namely ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth and funding needs of the beneficiary micro unit. This loan can be availed by Micro Units and Entrepreneurs in India. In this article, we look at the procedure for obtaining MUDRA loan.

MUDRA

One of the biggest bottleneck for SMEs in India is the lack of financial support from the formal banking or financial sector. The lack of formal financing hampers growth of small businesses and makes them ineffective at competing with larger players. To remove this bottle neck and provide finance to micro units or Entrepreneurs, MUDRA Bank has been setup as a subsidiary of SIDBI.

MUDRA would be responsible for refinancing all financiers or financial institutions engaged in financing of Small Businesses, Societies, Trusts Section 8 Companies, Co-operative Societies, Small Banks, Scheduled Commercial Banks and Rural Banks which are in the business of lending to micro or small businesses engaged in manufacturing, trading and services activities.

How to get Mudra Loan?

Loan under MUDRA

Loan is provided currently under three schemes in Prdhan Mnatri MUDRA Yojana. The three schemes are as following:

Shishu: Loan of upto Rs.50,000/=
Kishor: Loans of above Rs.50,000 to Rs.5 lakhs.
Tarun: Loans of above Rs.5 lakhs to Rs.10 lakhs.

MUDRA Loan Eligibility

Any Indian Citizen who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading or service sector and whose credit need is less than 10 lakh can approach either a Bank, MFI, or NBFC for availing of MUDRA loans under Pradhan Mantri Mudra Yojana (PMMY). The terms and conditions of the lendor would have to be followed for availing of loans under MUDRA. The lending rates are as per the RBI guidelines issued in this regard from time to time. Since, MUDRA is a refinancing institution, loans are not offered directly by MUDRA but through existing NBFCs, Financial Institutions, Banks, Primary Lending Institutions, etc.,

The target audience for MUDRA loans are millions of Proprietorship / Partnership Firms running a small manufacturing unit or service sector unit like shopkeepers, fruits/vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and urban areas.

MUDRA Card

MUDRA loan is provided in the form of a MUDRA card wherein the borrower can avail credit in a hassle free and flexible manner through a RuPay card. The MUDRA card will provide working capital arrangement in the form of Cash Credit or Over Draft and can be used by drawing cash from ATM or making purchases using Point of Sale credit card swiping machines. MUDRA card also allows for repayment of the amount as and when surplus is available, thereby reducing interest burden.

How to get MUDRA Loan

To obtain MUDRA loan the borrower can approach the branch of a bank or financial institution providing MUDRA loan with the following documents and information.

MUDRA Loan Application
Business plan
Proof of Identity like PAN / Drivers License / Aadhaar Card / Passport and more.
Residence proof like recent telephone bill / electricity bill or property tax receipt and more.
Applicant’s recent photograph less than 6 months old
Quotation of machinery or other items to be purchased
Name of supplier or details of machinery or prices of machinery
Proof of identity / address of the business like tax registration, business license and more.
Proof of category like SC/ST/OBC/Minority, if applicable

It is important to note that there is no processing fee or collateral requirement for obtaining MUDRA loan.

Top Banks and Financial Institutions providing MUDRA Loan

The following are the top Banks and Financial Institution providing MUDRA loan in India. You can contact one or more of the following financial institutions with the relevant documents for obtaining MUDRA loan.

Top 10 Public Sector Banks providing MUDRA Loan (as per total number of accounts as on October 11, 2015)

UCO Bank – 4,79,476 MUDRA Loan Accounts
State Bank of India – 4,67,062
Canara Bank – 3,35,270
Bank of India – 2,73,784
Syndicate Bank – 2,14,228
Indian Bank – 1,90,129
Punjab National Bank – 1,83,594
Bank of Baroda – 1,20,010
Central Bank of India – 1,11,820
Allahabad Bank – 1,10,044

Top 10 Private Sector Banks providing MUDRA Loan (as per total number of accounts as on October 11, 2015)

HDFC Bank – 5,57,41, MUDRA Loan Accounts
IndusInd Bank – 4,95,954
Axis Bank – 4,36,323
ICICI Bank – 34,311
Ratnakar Bank – 28,408
Yes Bank – 9,627
Karnataka Bank – 4,958
Karur Vysya Bank – 3,222
South Indian Bank – 2,368
Lakshmi Vilas Bank – 1,449

Top 10 Regional Rural Banks providing MUDRA Loan (as per total number of accounts as on October 11, 2015)

Uttar Bihar Gramin Bank – 1,11,509 MUDRA Loan Accounts
Pragathi Krishna Gramin Bank – 70,892
Karnataka Vikas Grameena Bank – 46,549
Kerala Gramin Bank – 44,525
Madhya Bihar Gramin Bank – 34,928
Baroda UP Gramin Bank – 32,743
Baroda Rajasthan Ksethriya Gramin Bank – 29,913
Andhra Pragathi Gramin Bank – 24,834
Pallavan Grama Bank – 22926
Allahabad UP Gramin Bank – 22,618

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HOW TO GET MUDRA LOAN IN BIHAR PATNA MUZAFFARPUR JHARKHAND RANCHI GAYA BETTIAH JAHANABAD CHAMPARAN BHAGALPUR DARBHANGA DHANBAD HAZARIBAG

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October 17, 2015 By Prince Kunal

HOW TO START A BUSINESS IN BIHAR | Legal requirement for starting business in Bihar |

Various legal formalities have to be complied with by an entrepreneur at the stage of setting up and, at times, at the operational stage of the enterprise.

Some formalities are required to be completed by all categories of entrepreneurs while others by specific categories of entrepreneurs depending upon their industry line, or equipment installed or size of the unit. The various legal requirements are listed as below :

PRE – OPERATIONAL STAGE :

Sl.	Purpose	Concerned Office / Agency	Remarks
1.	Constitution of the Firm- Partnership/LLP Company	Registrar of Firms Income Tax Deptt. Registrar of Companies	Optional Compulsory Certificate of Commencement of Business
2.	E.M Part –I & II as MSME/ unit	DIC, DI	Optional E.M Part- I & II
3.	Commercial Taxes (Central and State)	Sales Tax Office	Registration for Sales Tax Number
4.	Central Excise	Deptt. of Central Excise	Exemption upto Rs. 400 lakhs Turn over
5.	Factory Act, 1948	Factory Inspector’s Office	Units employing over 10 workers only if with power; and over 20 worker without power
6.	Shop & Establishment Act	Local Office of Shop & Establishment Authority	For non-manufacturing activity
7.	Patents & Trade Marks	Trade Mark Registry	Where necessary
8.	Location	Municipal Corporation, Panchayat Office, Industrial Dev. Corpn, Local Development Authority etc.	No objection Certificate
9.	Pollution Control	State Authority/Board	Pollution NOC
10.	Raw Material	MSME DI DIC STC/MMTC Controller of Import/Exports	Quota items Imported Raw Material
11.	Building/Construction	State Industrial Corporation Local Authorit	Approval of Building Plan
12.	Storage of Explosives	Dy. Chief Controller of Explosives Police Deptt. Fire Brigade Chief Inspector of Boilers	Explosive and highly inflammable goods like Chlorate etc.
13.	Erection of Boilers	Chief Inspector of Boilers	For Operative boilers above certain size
14.	Weights/Measures	Inspector of Weights & Measures Deptt.	All weights are required to be verified/stamped before use
15.	Electronic Items
16.	Drugs Allopathic Ayurvadic Siddha Unani Homeopathic	State Drugs Controller	Clearance for Drugs and Cosmetic
17.	Meat Food	Sr. Marketing Officer Directorate of Marketing and Inspection Ministry of Rural Reconstruction	Licence under Meat
18.	Fruit Products	Dy. Director (Food & Vegetable Preservation), Office of the Food and Nutrition Board, Ministry of Agriculture	Licence under Fruit Products Order, (FPO)1954 & 1974
19.	Cold Storage (Construction, Expansion, Operation)	Regional Officer, Directorate of Horticulture	Cold Storage Order 1980 and 1983
20.	Food Articles (Manufacture Sale, Storage Distribution)	Local Body like	Clearance under Prevention of Food Adulteration, Act, 1954
21.	Wheat Products	Food Department of State Govt.	Obtaining prior concurrence of State Govt.
22.	Rice Mills	Food Deptt. of State Govt.	Permit for Rice Mill Constitution (Rice Milling Regulation, 1958)
23.	Power Looms	Textile Commissioner	Clearance for establishing power looms under the Textile (Control Order)
24.	Denatured spirits, methyl and varnish (French Polish)	Prohibition and Excise Deptt.	Licence required for industrial applications under State Rules
25.	Media Printing Press	Distt. Magistrate/Distt. Revenue Officer/Public Authorities	Declaration required to be submitted for running the press/ ministry
26.	Insecticides (Import or manufacture)	Central Insecticides Board and Registration Committee, Directorate of Plant protection quantitative and Storage, NH IV Faridabad – 121001 (Haryana)	Registration for manufactu
27.	Mixed Fertilizers	Director of Agriculture	Registration for preparing mixed fertilizer

Are you confused????

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Topic of this page:

HOW TO START A BUSINESS IN BIHAR | Legal requirement for starting business in Bihar |

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October 17, 2015 By Prince Kunal

Setting up a business in Bihar-Jharkhand-Legal Formalities

Setting up a business in Bihar-Jharkhand-Legal Formalities and Approval required for starting business in Bihar-Jharkhand

Various legal formalities have to be complied with by an entrepreneur at the stage of setting up and, at times, at the operational stage of the enterprise.

PRE – OPERATIONAL STAGE :

Sl.	Purpose	Concerned Office / Agency	Remarks
1.	Constitution of the Firm- Partnership/LLP Company	Registrar of Firms Income Tax Deptt. Registrar of Companies	Optional Compulsory Certificate of Commencement of Business
2.	E.M Part –I & II as MSME/ unit	DIC, DI	Optional E.M Part- I & II
3.	Commercial Taxes (Central and State)	Sales Tax Office	Registration for Sales Tax Number
4.	Central Excise	Deptt. of Central Excise	Exemption upto Rs. 400 lakhs Turn over
5.	Factory Act, 1948	Factory Inspector’s Office	Units employing over 10 workers only if with power; and over 20 worker without power
6.	Shop & Establishment Act	Local Office of Shop & Establishment Authority	For non-manufacturing activity
7.	Patents & Trade Marks	Trade Mark Registry	Where necessary
8.	Location	Municipal Corporation, Panchayat Office, Industrial Dev. Corpn, Local Development Authority etc.	No objection Certificate
9.	Pollution Control	State Authority/Board	Pollution NOC
10.	Raw Material	MSME DI DIC STC/MMTC Controller of Import/Exports	Quota items Imported Raw Material
11.	Building/Construction	State Industrial Corporation Local Authorit	Approval of Building Plan
12.	Storage of Explosives	Dy. Chief Controller of Explosives Police Deptt. Fire Brigade Chief Inspector of Boilers	Explosive and highly inflammable goods like Chlorate etc.
13.	Erection of Boilers	Chief Inspector of Boilers	For Operative boilers above certain size
14.	Weights/Measures	Inspector of Weights & Measures Deptt.	All weights are required to be verified/stamped before use
15.	Electronic Items
16.	Drugs Allopathic Ayurvadic Siddha Unani Homeopathic	State Drugs Controller	Clearance for Drugs and Cosmetic
17.	Meat Food	Sr. Marketing Officer Directorate of Marketing and Inspection Ministry of Rural Reconstruction	Licence under Meat
18.	Fruit Products	Dy. Director (Food & Vegetable Preservation), Office of the Food and Nutrition Board, Ministry of Agriculture	Licence under Fruit Products Order, (FPO)1954 & 1974
19.	Cold Storage (Construction, Expansion, Operation)	Regional Officer, Directorate of Horticulture	Cold Storage Order 1980 and 1983
20.	Food Articles (Manufacture Sale, Storage Distribution)	Local Body like	Clearance under Prevention of Food Adulteration, Act, 1954
21.	Wheat Products	Food Department of State Govt.	Obtaining prior concurrence of State Govt.
22.	Rice Mills	Food Deptt. of State Govt.	Permit for Rice Mill Constitution (Rice Milling Regulation, 1958)
23.	Power Looms	Textile Commissioner	Clearance for establishing power looms under the Textile (Control Order)
24.	Denatured spirits, methyl and varnish (French Polish)	Prohibition and Excise Deptt.	Licence required for industrial applications under State Rules
25.	Media Printing Press	Distt. Magistrate/Distt. Revenue Officer/Public Authorities	Declaration required to be submitted for running the press/ ministry
26.	Insecticides (Import or manufacture)	Central Insecticides Board and Registration Committee, Directorate of Plant protection quantitative and Storage, NH IV Faridabad – 121001 (Haryana)	Registration for manufactu
27.	Mixed Fertilizers	Director of Agriculture	Registration for preparing mixed fertilizer

Topic of this page:

Setting up a business in Bihar-Jharkhand-Legal Formalities and Approval required for starting business in Bihar-Jharkhand Muzaffarpur

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October 6, 2015 By Prince Kunal

Society Registration Consultant in Bihar Patna

Society Registration in Bihar Patna Muzaffarpur | NGO registration consultant| Bihar Society Registration Act | Bihar Patna Muzaffarpur Bhagalpur Gaya Buxar Mokama Jamui |

Bihar Societies (NGO) Registration Act

The British passed the Societies Registration Act in India in 1860. The Act was based on The Literary and Scientific Institutions Act, which was passed in England in 1854.

The main Act is simple enough. However, the states have power (Charitable and Religious institutions fall under state list) to amend the main Act for their own state. Many states have amended the main Act, These amendments cause confusion in section references, such as Section 4A for Bihar is different from section 4A for Goa. Others have passed their own independent Act.

It has proved very complex task to get the latest amendments for each state. Therefore, please reconfirm the information presented here before taking any important decisions.

[Societies Registration Act, 1860 as amended by the State]

Registration

By filing Memorandum of Association and certified copy of Rules and Regulations along with a fee of Rs.10/- (Sec. 3).

All documents to be filed with the Inspector General of Registration, Patna.

The Inspector General will issue a certificate of registration in Form ‘A’. He / she will also send a certificate of acknowledgement in Form ‘B’ by post (rule 6).

Alteration

You can alter the objects of the society, or merge with another society. For this, you have to convene two general body meetings (at interval of one month). Three-fifths of the members have to approve the change (Sec. 12).

Society can also change its name with consent of three-fifths of its members (Sec. 12A). Seven members, including secretary, should sign notice of change. This notice should be sent to Registrar. The change becomes effective when approved by the Registrar (Sec. 12B).

List of Governing Body Members

File it every year within 14 days of annual general meeting. If general meetings are not held, file this in the month of January (Sec. 4). A list showing changes in Governing Body during the year should also be filed. Also file a corrected and certified copy of rules of the Society (Sec. 4A).

Any change in rules of the society should be intimated within 15 days of the change. This should also be certified by at least three governing body members (Sec. 4A).

Accounts

Audited figures of Receipts and Expenditure for each financial year should be approved in a general meeting of the society. This should be filed within three months of end of the year. An activity report should also be filed along with this (rule 10).

Every society should also file a quarterly ‘Return on employment and employee compensation’ in Form – H. The return should be filed within fifteen days of end of each quarter (rule 11).

Dissolution

At least three-fifths (60%) of the general body members have to vote for dissolution of the society at a special meeting. Government’s consent is also required if it is a member or a contributor or interested in the society (Sec. 13).

Disposal of Property upon dissolution

After dissolution majority of members can decide to give the property (left after settlement of all debts and liabilities) to the Government (Sec. 14-A).

Cancellation

Inspector General of Registration can cancel the registration of a society. This can be done if the society moves its office to another state or its activities are against its own objects (Sec. 23).

Others

Any one can see the documents of the society on payment of Re.1. Copies can also be taken (Sec. 19, rules 15 to 18).

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Society Registration in Bihar Patna Muzaffarpur | NGO registration consultant| Bihar Society Registration Act | Bihar Patna Muzaffarpur Bhagalpur Gaya Buxar Mokama Jamui |

This article is written by: ACS Prince Kunal
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