Section 8 Company
Section 8 Company Its for Non Profit Organization Rs. 16,899/- All inclusive Duration : 8 to 15 Days
What is Section 8 Company?
Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to a established \'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other objects provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes.
A Section 8 Company is similar to a Trust or Society; expect, a section 8 Company is registered under the Central Government\’s Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.
Frequently Asked Question
Identity and Address ProofIdentity and address proof will be required for all directors and shareholders of the company to be incorporated. In the case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarized copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than a month old. Registered Office Address ProofAll companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
1. Minimum 2 Director
2. Minimum 2 Shareholder
3. DIN (Director Identification Number for all Director)
4. DSC (Digital Signature Certificate for one of the Directors)
5. Minimum Share Capital of Rs. 1,00,000/-
6. The Director and Shareholder can be same
The following types of Business entitles are available in India:
1. Private Limited Company
2. Public Limited Company
3. One Person Company
4. Producer Company
5. Section 8 Company
6. Limited Liability Partnership
8. Sole Proprietorship
1. Many privileges and exemptions under Company Law.
2. Exemption from requirement of Minimum Paid-up capital.
3. Exemption of Stamp duty for registration.
4. Non-application of Companies Auditor\'s Report Order (CARO) 2003.
5. Registered partnership firm can be a member in its own capacity.
6. Tax deductions to the donors of the Company u/s. 80G of the Income Tax Act.
7. Legal Entity
8. Perpetual Succession
9. Raising Donation from Public
Yes, you can register a company at your residential address as having a commercial space is not necessary to get a company in India
Yes, a company’s address can be changed after acquiring a commercial space. The process of change of company address is very easy and it can be done within hours if the new address is within the same city.
Yes, you can convert your Section-8 Company into Private Limited Company in future and options are available.