A Section 8 company enjoys a separate legal status and to retain that it is required to be compliant with its annual compliance filings. At the year-end, once after the financials preparation and statutory income tax filing, a S.8 Company has to report its activities and position to Ministry of corporate affairs by filing applicable forms. Failure to follow such compliances leads to penal consequences and continuance of such failure disqualifies the Director's position as well as resulting in the removal of the company's name.
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