- One Name Approval
- Authorised Capital 10 Lakhs
- Incorporation Certificate
- 7 DSC
- PAN Card
- TAN (TDS)
- MOA & AOA
- Share Certificate
- Company Compliance Booklet
- RBI Licence
| Fill Basic Info. |
| Upload KYC Documents |
| Pay the Service Cost |
| Documents verification by us |
| Apply to Govt. Portal by us |
| Submission & Get Certificates |
Inclusive of all taxes
Avail a range of banking services through digitalca.in. DigitalCA can help you open a current account, get a payment gateway or avail loans through our Partner Banks.
NBFC companies are suitable for financing, loan reimbursements etc.
Points |
NBFC |
Nidhi Company |
Section 8 Co. |
|---|---|---|---|
Members |
2 |
7 |
2 |
Minimum Capital Required |
2 crores |
5 Lacs |
No any limit |
RBI Licence |
Required |
No Need |
No Need |
Profit Sharing |
Yes |
Yes |
No |
Compliance |
High |
Moderate |
Moderate |
Profit Earning |
Yes |
Yes |
No |
Incorporation Cost |
High |
Nominal |
Nominal |
Suitable for |
A secured & unsecured loans |
Secured Loans & Deposits |
Unsecured Loans |
Nature of Company |
Can be public Ltd or Pvt. Ltd. |
Limited |
Can be public Ltd or Pvt. Ltd. |
Working Area |
PAN India |
District Level |
PAN India |
Saving Account Opening Facility |
No |
Yes |
No |
Deposit Facility |
No |
Yes |
No |
Every NBFC has to file an annual return to the ROC of respective States. AOC-4 and MGT-7 is required to file every year.as annual return.
Variou forms are also required to file after incorporation, detailed description will be provided in the compliance booklet.
Yes, a separate PAN card is required for a NBFC company because a NBFC is a separate entity from owners.
As per GST Act, GST registration is mandatory if turnover exceeds Rs 20/40 lakhs but practically many banks require a GST certificate at the time of opening a bank account.
GST monthly/quarterly return is mandatory for all types of business i.e. even in case of NIL turnover GST return is mandatory to file every month/quarterly.
Yes GST registration Number can be surrendered with valid reason
NBFC company a corporate assessee however 30% income tax applicable on NBFC company.
A NBFC has a dependency on the honesty, integrity, and loyalty of the member and workers of the company is managed by amateurs as professional because high-end managers are not affordable because of lack of funds.
People are apprehensive before investing in the NBFC as the company doesn't require licensing from RBI. An easy source of loan to members against collateral.
As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.
A NBFC encourages all its members to save money and encourages a thrifty lifestyle. A NBFC, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.
Borrowing and lending to known persons, where the procedure is fixed, is much less complicated than dealing with banks or in an informal setting. A NBFC enables its members to unlock the potential of their money and gain from lower interest rates when they require money themselves.
A NBFC enjoys better credibility when compared to Mutual Benefit Organizations. Nidhi companies are registered and monitored by the Central Government. Mutual Benefits Organization is on the other hand governed and monitored by State Governments.
Income Tax- Every Private Company is required to file an Income Tax return in Every Year by providing 30% tax on the total income of companies.
Tax Audit– Mandatory in case sales, turnover or gross receipts of a business exceed Rs. One Crore in the previous year relevant to the assessment year.