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Section 8 Company

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All about Section 8 Company

According to the legal language section 8 company is
  • Is incorporated for the promotion of commerce, art, science, education, research, sports, charity, social welfare, religion, protection of environment or any such other object.
  • It intends to apply all its profits, income, or other earnings, in promoting these objects.
  • Pays no dividend or income to its members.

Section 8 company is registered under companies act and will be treated as limited companies without the phrase “limited” being added to their name. Section 8 Companies are a legal form of “Non-Profit Organizations (NPOs) or Non-Governmental organizations (NGOs)”. In India, a non-profit organization can be registered under the Registrar of societies or as a Non-profit company under the Section 8 Company of the Company Act,2013.

    Apply for Section 8 Company

    Apply for Section 8 Company





    Any query call us now ..........

    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
    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.

    Any Query ??
    Don't hesitate to contact us

    We can work on any of the Accounting Software of your choice and deliver you the work on time.

    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.

    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 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.

    Comparison

    Private Limited CompanyOne Person CompanyLimited Liability PartnershipPartnership Firm Proprietorship Firm
    Act Companies Act, 2013 Companies Act, 2013 Limited Liability Partnership Act, 2008 Indian Partnership Act,1932 No specified Act
    Registration Requirement Mandatory Mandatory Mandatory Optional No
    Number of members 2 – 200 Only 1 2 – Unlimited 2 – 50 Only 1
    Number of Director/Partner 2 – 15 Only 1 2 – Unlimited 2 – Unlimited Only 1
    Separate Legal Entity Yes Yes Yes No No
    Liability Protection Limited Limited Limited Unlimited Unlimited
    Statutory Audit Mandatory Mandatory Dependent Not mandatory Not mandatory
    Ownership Transfer ability Yes No Yes No No
    Uninterrupted Existence Act Act Act Act Act
    Foreign Participation Allowed Not Allowed Allowed Not Allowed Not Allowed
    Tax Rates Moderate Moderate High High Low
    Statutory Compliance High Moderate Moderate Less Less