Section 8 Company
A Section 8 company derives its legal status from the Companies Act and operates as a limited company without the inclusion of the term “limited” in its name. It aligns with the legal framework of Non-Profit Organizations (NPOs) or Non-Governmental Organizations (NGOs). In the Indian context, non-profit entities can undergo registration either as a society under the Registrar of Societies or as a non-profit company within the purview of Section 8 of the Companies Act of 2013.
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Why Should I Use Corporate Genie For Section 8 Company?
Corporate Genie has a team of registration experts who can provide complete guidance to register your section 8 company!
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The defining features of a Section 8 company can be summarized as follows:
Promotion of Beneficial Activities: The fundamental purpose of a Section 8 company is to advance activities that contribute to the betterment of society across various domains such as education, culture, welfare, and more.
Profit Application: All profits, income, or earnings generated by the company are intended for the advancement of its stated objectives. These financial resources are channeled back into promoting the causes it stands for.
No Dividend Distribution: In alignment with its non-profit nature, a Section 8 company refrains from distributing dividends or income to its members. Instead, the focus remains on reinvesting in the activities that further its designated objectives.
Legal Framework: The legal framework governing Section 8 companies is rooted in the Companies Act. Despite their non-profit status, they operate as limited companies without the "limited" designation in their name.
Non-Profit and Social Impact: Section 8 companies in India are equivalent to Non-Profit Organizations (NPOs) or Non-Governmental Organizations (NGOs). Their registration under this section solidifies their commitment to social and public welfare without prioritizing profit distribution.
Save Time and Hassle. Apply for Section 8 Company!
Corporate Genie Plans
Basic Plan
Rs. 7949
- Registeration of Section 8 Company at Ministry of Corporate Affairs
- Advice, Drafting & Filing by Experts
- MCA processing and COI
- RD license
- Company PAN & TAN
- MOA
- AOA
- Allotment of Two DIN
- Estimated Income & Expenditure Account for the Next Three Years (Mandatory for Sec-8 Company Registration)
Smart Plan
Rs. 18949
- Registeration of Section 8 Company at Ministry of Corporate Affairs
- Advice, Drafting & Filing by Experts
- MCA processing and COI
- RD license
- Company PAN & TAN
- MOA
- AOA
- Allotment of Two DIN
- Estimated Income & Expenditure Account for the Next Three Years (Mandatory for Sec-8 Company Registration)
- Preparation of Financial Statements
- MCA Annual Return Filing and DIR-3 Director KYC
Mega Plan
Rs. 24949
- Registeration of Section 8 Company at Ministry of Corporate Affairs
- Advice, Drafting & Filing by Experts
- MCA processing and COI
- RD license
- Company PAN & TAN
- MOA
- AOA
- Allotment of Two DIN
- Estimated Income & Expenditure Account for the Next Three Years (Mandatory for Sec-8 Company Registration)
- Preparation of Financial Statements
- Income Tax Return Filing
- MCA Annual Return Filing and DIR-3 Director KYC
Save Time and Hassle. Apply for Section 8 Company!
Corporate Genie
Documents required for Section 8 Company
Copy of ID Proof of Designated Partners. (Voter ID, Driving License, Passport)
Copy of Address Proof of Designated Partners (Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill)
Passport size Photographs of Designated Partners.
Copy of PAN of Designated Partners.
Digital Signature Certificate of all the Designated Partners.
DIN of all the Designated Partners.
Property Ownership Documents of Registered office premises:
If property is owned: Electricity bill + Ownership Documents + NOC (if required)
If property is rented: Electricity bill + Rent Agreement + NOC
Apart from all these documents, Some other required documents will be prepared by your Corporate Professional i.e. CA/CS for submission to ROC.
Process to obtain registration
Fill the required details in the form.
Make payment.
Expert will ask for necessary documents.
We will apply for DSC & the DIN Number for Director.
Draft will be prepared for necessary documents like Consent, MOA & AOA.
All the documents will be submitted to ROC.
As when ROC approves application for Certificate of Business Commencement will be processed.
Advantage of Section 8 company
The liability in section 8 company is limited.
Section 8 company is entitled to various tax exemptions by government of India.
Separate legal existence.
No minimum capital is been required.
How Corporate Genie Works For You
We understand the process is complex and confusing. So we put in extra efforts to stay with you every step of the way – preparation, scrutiny, assessment, filing, liaison, rectification, or refund.
ITR-1, ITR-2, ITR-2A, ITR-3, ITR-4, ITR-5, ITR-6, ITR-7, we file all. And that’s not all. Our CAs are experts in the reconciliation of ITR data with 26AS. We assist in TDS & GST compliance.
When it is about uploading sensitive information on the World Wide Web, the speed of the website matters. And matters BIG. Our site gives you an interruption-free experience.
Store all the tax documents in one place and retrieve it as per requirement. So you don’t have to maintain a separate tax file. And your desk is always organized.
To maintain our spot under the government and preserve our position as the largest E-Filing Intermediary of the Income Tax department, we strictly adhere to the legal guidelines of data privacy.
FAQ
There are certain obligation which need to be fulfilled i.e.
The main objective should be for charitable purpose.
Minimum 2 members should subscribe to capital on incorporations.
There should be minimum 2 directors in the company, one of which must be Indian citizen and resident.
The main objective should be for charitable purpose.
Minimum 2 members should subscribe to capital on incorporations.
There should be minimum 2 directors in the company, one of which must be Indian citizen and resident.
The Section 8 company is popularly known as NGO. It is to be noted that NGOs can be registered as other business structure like trust, society, etc.
The promoters shall apply in e-form INC-12 for the approval of Central Government. The form is accompanied with MoA – AoA of the company, declarations from promoters, estimated statement of income & expenditure for next three years, etc.
Yes a section 8 company can take loan from its members and pay interest thereupon, subject to the provisions of Chapter V of the Act read with rules made thereunder.
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