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What is a Nidhi Company? A Nidhi company is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Their core.. What is a Nidhi Company? A Nidhi company is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. They are regulated by Ministry of Corporate Affairs. Reserve Bank of India is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these companies deal with their shareholder-members only. Nidhi means a company which has been Nidhi Company incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its
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All industry carrying out a taxable provider of goods or services and whose earnings exceeds the verge limit of Rs. 20 L is required to register as a usual taxable person...
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