{"id":11062,"date":"2021-03-07T12:14:06","date_gmt":"2021-03-07T06:44:06","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=11062"},"modified":"2022-01-27T14:28:14","modified_gmt":"2022-01-27T08:58:14","slug":"compliances-of-a-producer-company","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/","title":{"rendered":"Compliances of a Producer Company"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d724f3c9e8d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d724f3c9e8d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#MEANING_A_PRODUCER_COMPANY\" title=\"MEANING A PRODUCER COMPANY\">MEANING A PRODUCER COMPANY<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#FORMATION_OF_PRODUCER_COMPANY_AND_ITS_REGISTRATION\" title=\"FORMATION OF PRODUCER COMPANY AND ITS REGISTRATION\">FORMATION OF PRODUCER COMPANY AND ITS REGISTRATION<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#Compliances_of_a_Producer_Company\" title=\"Compliances of a Producer Company\">Compliances of a Producer Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#ANNUAL_COMPLIANCES_OF_A_PRODUCER_COMPANY\" title=\"ANNUAL COMPLIANCES OF A PRODUCER COMPANY\">ANNUAL COMPLIANCES OF A PRODUCER COMPANY<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#The_board_shall_meet_every_3_months_4_board_meetings_must_be_held_every_year\" title=\"The board shall meet every 3 months &amp; 4 board meetings must be held every year.\">The board shall meet every 3 months &amp; 4 board meetings must be held every year.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#ANNUAL_GENERAL_MEETING_AND_INVESTMENT_OF_PRODUCER_COMPANY\" title=\"ANNUAL GENERAL MEETING AND INVESTMENT OF PRODUCER COMPANY\">ANNUAL GENERAL MEETING AND INVESTMENT OF PRODUCER COMPANY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#ANNUAL_GENERAL_MEETING\" title=\"ANNUAL GENERAL MEETING\">ANNUAL GENERAL MEETING<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#Compliance_for_Foreign_Subsidiary_Companies_in_India\" title=\"Compliance for Foreign Subsidiary Companies in India\">Compliance for Foreign Subsidiary Companies in India<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#NOTICE_OF_ANNUAL_GENERAL_MEETING\" title=\"NOTICE OF ANNUAL GENERAL MEETING\">NOTICE OF ANNUAL GENERAL MEETING<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#INVESTMENTS_OF_PRODUCER_COMPANY_IN_OTHER_COMPANIES\" title=\"INVESTMENTS OF PRODUCER COMPANY IN OTHER COMPANIES\">INVESTMENTS OF PRODUCER COMPANY IN OTHER COMPANIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#Types_of_Producer_Companies\" title=\"Types of Producer Companies\">Types of Producer Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#MEMORANDUM_OF_ASSOCIATION_AND_ARTICLES_OF_ASSOCIATION\" title=\"MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION\">MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#PRE_%E2%80%93_INCORPORATION_REQUIREMENT\" title=\"PRE \u2013 INCORPORATION REQUIREMENT\">PRE \u2013 INCORPORATION REQUIREMENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#DOCUMENTS_REQUIRED_OF_PRODUCER_COMPANY\" title=\"DOCUMENTS REQUIRED OF PRODUCER COMPANY\">DOCUMENTS REQUIRED OF PRODUCER COMPANY<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#List_of_Documents_of_Producer_Company\" title=\"List of Documents of Producer Company:\">List of Documents of Producer Company:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#List_of_Documents_of_Directors\" title=\"List of Documents of Directors:\">List of Documents of Directors:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#PROCESS_OF_INCORPORATION_OF_PRODUCER_COMPANY\" title=\"PROCESS OF INCORPORATION OF PRODUCER COMPANY\">PROCESS OF INCORPORATION OF PRODUCER COMPANY<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#TAX_BENEFIT_UNDER_INCOME_TAX_FOR_PRODUCER_COMPANY\" title=\"TAX BENEFIT UNDER INCOME TAX FOR PRODUCER COMPANY \">TAX BENEFIT UNDER INCOME TAX FOR PRODUCER COMPANY <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#FAQ_ON_COMPLIANCES_OF_A_PRODUCER_COMPANY\" title=\"FAQ ON COMPLIANCES OF A PRODUCER COMPANY\">FAQ ON COMPLIANCES OF A PRODUCER COMPANY<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#How_can_we_assist_you_to_get_the_Registration_of_the_Producer_Company\" title=\"How can we assist you to get the Registration of the Producer Company?\">How can we assist you to get the Registration of the Producer Company?<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#New_Online_filing_eForm_DIR-3_eKYC_Directors\" title=\"New Online filing eForm DIR-3 eKYC Directors\">New Online filing eForm DIR-3 eKYC Directors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/carajput.com\/blog\/compliances-of-a-producer-company\/#CLOSURE_OF_SUBSIDIARY_COMPANY\" title=\"CLOSURE OF SUBSIDIARY COMPANY\">CLOSURE OF SUBSIDIARY COMPANY<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"MEANING_A_PRODUCER_COMPANY\"><\/span><span style=\"color: #ff0000;\"><strong>MEANING A PRODUCER COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure id=\"attachment_11176\" aria-describedby=\"caption-attachment-11176\" style=\"width: 830px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/download-12111.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-11176\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/download-12111.jpg\" alt=\"www.carajput.com; What is Producer Company\" width=\"830\" height=\"431\" \/><\/a><figcaption id=\"caption-attachment-11176\" class=\"wp-caption-text\">www.carajput.com; What is Producer Company<\/figcaption><\/figure>\n<p>Producer companies mean the companies which are registered under the companies act,2013 and it is formed by (A) by any 10 or more individuals every individual should be producer (B) 2 or more producer institution (C) combination of 10 or more individual and more producer institution and the things which have been produced through farming activities.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"FORMATION_OF_PRODUCER_COMPANY_AND_ITS_REGISTRATION\"><\/span><span style=\"color: #ff0000;\"><strong>FORMATION OF PRODUCER COMPANY AND ITS REGISTRATION<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_11054\" aria-describedby=\"caption-attachment-11054\" style=\"width: 861px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/pro.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-11054\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/pro.png\" alt=\"www.carajput.com; MOA and AOA of Producer Company\" width=\"861\" height=\"1145\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/pro.png 276w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/pro-226x300.png 226w\" sizes=\"(max-width: 861px) 100vw, 861px\" \/><\/a><figcaption id=\"caption-attachment-11054\" class=\"wp-caption-text\">www.carajput.com; MOA and AOA of Producer Company<\/figcaption><\/figure>\n<figure id=\"attachment_11060\" aria-describedby=\"caption-attachment-11060\" style=\"width: 959px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/2.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11060\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/2.png\" alt=\"www.carajput.com; Formation of Producer Company\" width=\"959\" height=\"787\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/2.png 959w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/2-300x246.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/2-768x630.png 768w\" sizes=\"(max-width: 959px) 100vw, 959px\" \/><\/a><figcaption id=\"caption-attachment-11060\" class=\"wp-caption-text\">www.carajput.com; Formation of Producer Company<\/figcaption><\/figure>\n<p>(1)\u00a0 ten or more individuals, each of them being a producer or any two or more Producer institutions, or a combination of ten or more individuals and Producer institutions, desirous of forming a Producer Company having its objects mentioned in section 581B and otherwise complying with the provisions of this Act in respect of registration, may form an incorporated Company as a Producer Company under this Act.<\/p>\n<p>(2) If\u00a0 Registrar is satisfied with all the requirements of this Act have been complied then the registrar shall, within thirty days of receipt of the documents, register the memorandum and the articles and all the other documents and issue a certificate of incorporation.<\/p>\n<p>(3) A Producer Company is formed then the Member&#8217;s liability is limited by the memorandum to the amount if any, unpaid on the shares respectively held by them and be termed a company limited by shares.<\/p>\n<p>(4) It may return to all its promoters all the direct costs that relate to the promotion and registration of company including registration, legal fees which shall be subject to the approval of the Members.<\/p>\n<p>(5) On registration the Producer Company shall become a body corporate as it is a private limited company to which the provisions contained in this Part apply, without, however, any limit to the number of Members thereof.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Compliances_of_a_Producer_Company\"><\/span><span style=\"color: #000080;\">Compliances of a Producer Company<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"ANNUAL_COMPLIANCES_OF_A_PRODUCER_COMPANY\"><\/span><span style=\"color: #ff0000;\"><strong>ANNUAL COMPLIANCES OF A PRODUCER COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>As per sec. 184 (1) Every director of the company shall at the first meeting of the board in every financial year disclose his interest in any other entity.<\/li>\n<li>Form DIR 8 under sec.164 (2) read with 143 (3g) every director needs to file to the company in every financial disclosure of non-disqualification.<\/li>\n<li>Every company shall file an annual return within 60 days of holding an annual general meeting in MFT 7.<\/li>\n<li>Form AOC 4 company is required to file a financial statement, cash flow statement, profit, and loss account within 30 days of the annual general meeting.<\/li>\n<li>DPT 3 company is required to file every year before 30th June in respect of return of deposit or particulars not considered as a deposit.<\/li>\n<li>MSME 1 form company has to file this return within 30 days of the end of half-yearly in respect of pending payment of MSME vendor to the registrar of company.<\/li>\n<li>Every director every year is required to file e \u2013 form DIR \u2013 3 KYC till 30th September.<\/li>\n<li>It needs to prepare the director report.<\/li>\n<li>The company has to circulate the notice of the general meeting at least 14 days before the meeting.<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"The_board_shall_meet_every_3_months_4_board_meetings_must_be_held_every_year\"><\/span>The board shall meet every 3 months &amp; 4 board meetings must be held every year.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"ANNUAL_GENERAL_MEETING_AND_INVESTMENT_OF_PRODUCER_COMPANY\"><\/span><span style=\"color: #333399;\"><strong><em><u>ANNUAL GENERAL MEETING AND INVESTMENT OF PRODUCER COMPANY<\/u><\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"ANNUAL_GENERAL_MEETING\"><\/span><span style=\"color: #ff0000;\"><strong><em><u>ANNUAL GENERAL MEETING<\/u><\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Every producer company each year holds an annual general meeting in addition to any other meeting and the gap between two annual general meetings shall not be more than 15 months.<\/li>\n<li>The first annual general meeting shall behold within 90 days from the date of its incorporation.<\/li>\n<li>Members shall adopt the articles of association of the producer company.<\/li>\n<li>Appointment of board of directors in the annual general meeting.<\/li>\n<li>an annual general meeting shall be called upon business hours, shall be on the day which is not a public holiday and held at the registered office of the producer company or some other place within the same city, town, village.<\/li>\n<li>14 days of notice is to be given for calling the annual general meeting.<\/li>\n<li>Notice of the annual general meeting mention the date, time, and place of the meeting.<\/li>\n<li>The annual general meeting shall be sent to every member and auditor of the producer company.<\/li>\n<li>Unless the articles prescribe for the larger number one\u2013fourth of the total number of members of the company shall be the quorum.<\/li>\n<li>Proceeding of the annual general meeting director report, balance sheet, profit &amp; loss account shall be filed with the registrar within 60 days of the annual general meeting.<\/li>\n<li>If the producer company is formed by the producer institutions then such institutions represent the general body through the chairman or chief executive.<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Compliance_for_Foreign_Subsidiary_Companies_in_India\"><\/span><a href=\"https:\/\/carajput.com\/blog\/compliance-for-foreign-subsidiary-companies-in-india\/\">Compliance for Foreign Subsidiary Companies in India<\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"NOTICE_OF_ANNUAL_GENERAL_MEETING\"><\/span><span style=\"color: #ff0000;\"><strong><em><u>NOTICE OF ANNUAL GENERAL MEETING<\/u><\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Notice of the annual general meeting shall be accompanied by the following documents-<\/p>\n<ol>\n<li>Agenda of the annual general meeting.<\/li>\n<li>Minutes of the previous annual general meeting.<\/li>\n<li>Audited balance sheet and profit and loss account if any, along with the board report with respect to-<\/li>\n<li>State of the affairs of the producer company.<\/li>\n<li>The amount carried to reserves.<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Amount paid to limited return on share capital.<\/li>\n<li>The amount is distributed as a patronage bonus.<\/li>\n<li>Any material changes and commitments.<\/li>\n<li>A draft resolution for the appointment of a board of directors.<\/li>\n<li>The draft resolution of amendment of memorandum of association or articles of association along with board recommendation.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 style=\"padding-left: 40px;\"><span class=\"ez-toc-section\" id=\"INVESTMENTS_OF_PRODUCER_COMPANY_IN_OTHER_COMPANIES\"><\/span><span style=\"color: #ff0000;\"><strong><em><u>INVESTMENTS OF PRODUCER COMPANY IN OTHER COMPANIES<\/u><\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>Producer company for promotion of its objective can acquire the shares of the producer company.<\/li>\n<li>It may subscribe to the share capital whether by way of subsidiary, joint venture<\/li>\n<li>All investment can be made by the producer company if it is consistent with the objects.<\/li>\n<li>Every producer company shall maintain a register of all the investments.<\/li>\n<li>The register maintained for the investment shall be kept at the registered office of the company and shall be open for inspection by the members.<\/li>\n<li>The general reserves of the company shall be invested to ensure the highest return.<\/li>\n<li>It either by itself or together with the subsidiary can invest by way of subscription, purchase, or otherwise.<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"Types_of_Producer_Companies\"><\/span><span style=\"color: #993366;\">Types of Producer Companies<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_11043\" aria-describedby=\"caption-attachment-11043\" style=\"width: 884px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Types-of-Producer-Companies1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11043\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Types-of-Producer-Companies1.jpg\" alt=\"www.carajput.com; Types of Producer Company\" width=\"884\" height=\"438\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Types-of-Producer-Companies1.jpg 884w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Types-of-Producer-Companies1-300x149.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Types-of-Producer-Companies1-768x381.jpg 768w\" sizes=\"(max-width: 884px) 100vw, 884px\" \/><\/a><figcaption id=\"caption-attachment-11043\" class=\"wp-caption-text\">www.carajput.com; Types of Producer CompanyTypes of Producer Companies<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"MEMORANDUM_OF_ASSOCIATION_AND_ARTICLES_OF_ASSOCIATION\"><\/span><span style=\"color: #ff0000;\"><strong>MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Memorandum of association and articles of association of the producer company duly signed by the registrar of the company and required to be presented to the registrar of the state where the company registered office is proposed to be situated to be set up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"PRE_%E2%80%93_INCORPORATION_REQUIREMENT\"><\/span><span style=\"color: #ff0000;\"><strong>PRE \u2013 INCORPORATION REQUIREMENT<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>-Minimum capital of 5 lakhs is required.<\/p>\n<p>-Minimum of 5 directors and a maximum of 15 directors is required.<\/p>\n<p>-It can not be converted into a public company.<\/p>\n<figure id=\"attachment_11051\" aria-describedby=\"caption-attachment-11051\" style=\"width: 827px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-11051\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company-1024x1024.png\" alt=\"www.carajput.com; Requirement for of Producer company\" width=\"827\" height=\"827\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company-1024x1024.png 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company-150x150.png 150w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company-300x300.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company-768x768.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Minimum-Eligibility-Criteria-for-Farmers-Producer-Company.png 1200w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/a><figcaption id=\"caption-attachment-11051\" class=\"wp-caption-text\">www.carajput.com; Requirement for of Producer company<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"DOCUMENTS_REQUIRED_OF_PRODUCER_COMPANY\"><\/span><span style=\"color: #ff0000;\"><strong>DOCUMENTS REQUIRED <\/strong><strong>OF PRODUCER COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Below is the list of documents that are needed from the Producer Company and directors for the registration producer company:<\/p>\n<h4><span class=\"ez-toc-section\" id=\"List_of_Documents_of_Producer_Company\"><\/span><span style=\"color: #000080;\"><strong>List of Documents of Producer Company:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>Scanned copies of Rent Agreement in case the premise is a rented one and NO objection certificate.<\/li>\n<li>Registered Office Address Proof of such as unitality bill or Electricity Bill etc.<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"List_of_Documents_of_Directors\"><\/span><span style=\"color: #000080;\"><strong>List of Documents of Directors:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>Mobile or Telephone Bill\/ Latest Bank Statement(not older than two months): These documents act as the residence proof of directors and must contain the name of the director.<\/li>\n<li>Scan Copy of PAN Card of All the directors<\/li>\n<li>One Document ScanCopy of Driving License\/Voter ID of Directors<\/li>\n<li>Copy of Passport size Photo of Directors<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"PROCESS_OF_INCORPORATION_OF_PRODUCER_COMPANY\"><\/span><span style=\"color: #ff6600;\"><strong>PROCESS OF INCORPORATION OF PRODUCER COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_11052\" aria-describedby=\"caption-attachment-11052\" style=\"width: 828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Incorporation-of-Producer-Company.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-11052\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Incorporation-of-Producer-Company-1024x768.png\" alt=\"www.carajput.com; Incorporation of Producer company\" width=\"828\" height=\"622\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Incorporation-of-Producer-Company-1024x768.png 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Incorporation-of-Producer-Company-300x225.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Incorporation-of-Producer-Company-768x576.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/Incorporation-of-Producer-Company.png 1200w\" sizes=\"(max-width: 828px) 100vw, 828px\" \/><\/a><figcaption id=\"caption-attachment-11052\" class=\"wp-caption-text\">www.carajput.com; Incorporation of a Producer company<\/figcaption><\/figure>\n<p><strong>Step 1:<\/strong> Need Apply for DSC<\/p>\n<p><strong>Step 2:<\/strong> Then Apply for DIN<\/p>\n<p><strong>Step 3:<\/strong> Apply for Name Approval through RUN<\/p>\n<p><strong>Step 4:<\/strong> Drafting &amp; submitting final incorporation documents<\/p>\n<p><strong>Step 5:<\/strong> Receiving Certificate of Incorporation &amp; opening Bank Account<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/advantage.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-11067\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/advantage.png\" alt=\"www.carajput.com; Advantage of Producer Company\" width=\"831\" height=\"653\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/advantage.png 615w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/advantage-300x236.png 300w\" sizes=\"(max-width: 831px) 100vw, 831px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"TAX_BENEFIT_UNDER_INCOME_TAX_FOR_PRODUCER_COMPANY\"><\/span><span style=\"color: #000080;\"><strong>TAX BENEFIT UNDER INCOME TAX FOR PRODUCER COMPANY <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Agriculture income is exempt are exempt under the <a href=\"https:\/\/www.caindelhiindia.com\/blog\/implication-of-cash-transaction-under-income-tax-act\/\">income tax act<\/a>, 1961. But it does not mean that all the agriculture income are exempted from the income tax act,1961.<\/p>\n<p>It depends upon the activity of agriculture whether the income is exempt or not. forex. If the green tea leaves are processed for manufacturing then 60 percent of income is exempt and 40 percent is taxable.<\/p>\n<p>&nbsp;<\/p>\n<p>www.carajput.com; Producer company V\/s Producer corporations<\/p>\n<figure id=\"attachment_11048\" aria-describedby=\"caption-attachment-11048\" style=\"width: 975px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/coops.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11048\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/coops.jpg\" alt=\"www.carajput.com; Producer company V\/s Cooprative\" width=\"975\" height=\"741\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/coops.jpg 975w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/coops-300x228.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/03\/coops-768x584.jpg 768w\" sizes=\"(max-width: 975px) 100vw, 975px\" \/><\/a><figcaption id=\"caption-attachment-11048\" class=\"wp-caption-text\">www.carajput.com; Producer company V\/s Cooperative<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"FAQ_ON_COMPLIANCES_OF_A_PRODUCER_COMPANY\"><\/span><span style=\"color: #000080;\"><strong>FAQ ON COMPLIANCES OF A PRODUCER COMPANY<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"color: #000080;\"><strong>Q1 \u2013 weather the complaints of the producer company is only for the working producer company?<\/strong><\/span><\/p>\n<p>Ans. \u2013 no, the annual complaints of producer companies are for all companies wheater it is a working producer company or a nonworking producer company.<\/p>\n<p><span style=\"color: #000080;\"><strong>Q2 \u2013 does all type of agriculture income is exempt from income tax in producer companies?<\/strong><\/span><\/p>\n<p>Ans. \u2013 no, it depends upon the activity whether it is exempt from the income tax act,1961 or not.<\/p>\n<p><span style=\"color: #000080;\"><strong>Q3 \u2013 can the producer company can hold all 4 board meetings in a single quarter?<\/strong><\/span><\/p>\n<p>Ans. No, the producer company must hold a board meeting every quarter of the year.<\/p>\n<p><strong>Q4 \u2013 if any director interest changes then at which meeting he is required to disclose his interest?<\/strong><\/p>\n<p>Ans. \u2013 if there are any changes in the director&#8217;s interest then he is required to disclose his interest immediately following the next meeting of the board.<\/p>\n<p><span style=\"color: #000080;\"><strong>Q5- is there is an extension of holding the first annual general meeting of the producer company?<\/strong><\/span><\/p>\n<p>Ans.- the first annual general meeting of the producer company shall be held within 15 months extension of holding the annual general meeting can be granted with the permission of the registrar.<\/p>\n<p><span style=\"color: #000080;\"><strong>Q6- if articles specify the required number of quorum then one\u2013fourth of the total member will prevail or articles?<\/strong><\/span><\/p>\n<p>Ans. If articles specify the required number of the quorum then it will prevail over one\u2013fourth of the total number of members.<\/p>\n<p><span style=\"color: #000080;\"><strong>Q7- can a producer company can make an investment that is not mentioned in its object?<\/strong><\/span><\/p>\n<p>Ans.- no, a producer company cannot make an investment that is not mentioned in the object.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_we_assist_you_to_get_the_Registration_of_the_Producer_Company\"><\/span><span style=\"color: #000080;\"><strong>How can we assist you to get the Registration of the Producer Company?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Our services shall be as follows:<\/p>\n<ul>\n<li>Apply and Approved name of the MCA<\/li>\n<li>Regular updates during the incorporation process<\/li>\n<li>DIN &amp; DSC\u2019s for subscribers &amp; directors<\/li>\n<li>Filling of company incorporation e-forms with the Ministry of Corporate Affairs<\/li>\n<li>Drafting objective, MOA &amp; AOA<\/li>\n<li>Apply of TAN &amp; PAN<\/li>\n<li>Advice &amp; Guideline for the business plan<\/li>\n<li>Darting of legal agreement, corporate drafts set, letters on a mandatory basis.<\/li>\n<\/ul>\n<p><iframe loading=\"lazy\" title=\"Producer Company | Registration procedure | Benefits of producer company\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/oTvqfLkk6ZI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<ul>\n<li>Popular blog:-<br \/>\n<h4><span class=\"ez-toc-section\" id=\"New_Online_filing_eForm_DIR-3_eKYC_Directors\"><\/span><a href=\"https:\/\/carajput.com\/blog\/new-online-filing-eform-dir-3-ekyc-directors-for-fy-2019-20\/\">New Online filing eForm DIR-3 eKYC Directors<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"CLOSURE_OF_SUBSIDIARY_COMPANY\"><\/span><a href=\"https:\/\/carajput.com\/blog\/closure-of-subsidiary-company\/\">CLOSURE OF SUBSIDIARY COMPANY<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>MEANING A PRODUCER COMPANY Producer companies mean the companies which are registered under the companies act,2013 and it is formed by (A) by any 10 or more individuals every individual should be producer (B) 2 or more producer institution (C) combination of 10 or more individual and more producer institution and the things which have &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9027],"tags":[9796,9795],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/11062"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=11062"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/11062\/revisions"}],"predecessor-version":[{"id":21546,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/11062\/revisions\/21546"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=11062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=11062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=11062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}