Microfinance companies need to meet some same compliances as applicable to other companies registered under the Companies Act.
1. Conducting at least 2 Board Meetings in a year.
2. Audit of Accounts.
3. Annual Returns filing to ROC.
4. Income tax returns.
5. Additional compliances to be fulfilled with the registration u/s12AA, 80G, of the Income Tax Act, applicable to donations, etc.