Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to an established for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object, 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 under CA, 1956) 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.
"If you are not satisfied for any reason, we will refund your money minus the Government fees. No questions asked"
Venture-Carecan register a Section 8 Company in 25 to 30 days, subject to ROC processing time.
OBTAINING DSC & DIN
Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Section 8 Company. DIN and DSC can be obtained for the proposed Directors within 5 to 7 days
SECTION 8 COMPANY REGISTRATION
Venture-Care can register a Section 8 Company in 25 to 30 days, subject to ROC processing time.
NAME APPROVAL & LICENSE
Once DIN and DSC are available for atleast two Directors, application for reservation of name for section 8 company can be made to MCA. Once, the name is reserved, a license must be obtained prior to incorporation.
SECTION 8 COMPANY REGISTRATION
Once the license is obtained, registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.Get Started
"Scanned Copy of the Following Documents has to be Provided by the Promoters of the Company"
PAN card copy with Self-attestation.
Copy of No Objection Certificate(NOC) from the owner of the property.
Voter Id copy or Passport copy or Aadhar card copy or Driving license copy with self attestation.
Utility bill has to be provided of the particular country where the NRI or Foreign national resides and it should be notarized.
For the registered office proof of the company, if the property is rented/ leased, then copy or rental agreement or lease agreement.
Latest passport size photo in jpg.
If owned property, a copy of Sale Deed and Electricity bill is sufficient.
Copy of Electricity bill or Property Tax receipt or Water Tax receipt not older than two months.
Latest Bank account statement or Mobile /Telephone bill or Electricity Bill (not older than two months)- no need for self attestation
In case of NRI or Foreign national, Passport copy has to be notarized at the Indian Embassy of the particular country.
Section 8 Company is also termed as the Non-Profit organization(NPO) which is established to promote art, science, commerce, religion, charity or any other advantageous object, provided the profits if any. Other revenue is utilized for supporting & promoting of objectives of the company and its members fund no benefit.
It depends on the type of Company you are registering, in case you are registering a Private Company then only two members are required and if it is a Public Limited Company then it should have seven members.
Yes, definitely it is permissible to convert Section-8 Company into Private Limited Company and related options are available for the same.
It is a complicated process but with the help of QuickCompany it is much easier. It takes only 20-25 working days to register a Section 8 Company after the documents are submitted.
The following are the requirements:
Copy of PAN card duly signed by the applicant
Id Proof: Voter Id or Passport or Aadhar card or driving license. All the documents need to be signed by the applicant
Address Proof: It can include latest Bank account statement or Telephone bill or Electricity Bill. The documents should not be older than two months
Photo Proof(latest passport size picture)
Office Address proof of the company is needed
NOC (No Objection Certificate from the owner
Copy of Sales Deed
If the applicant is an NRI then the documents must be notarized and passport is compulsory.
Yes, an NRI can register a Section-8 Company provided all the documents required are submitted and notarized by the professionals.
Costing for registration of an organization is dependent on which state of India you are going to officially register your organization as stamp duty, fee, registration charges are different for different states.
There are various privileges and exclusions under the Company Law:
There is no need of a Minimum paid-up Capital
Stamp duty registrations are also exempted
Companies Auditor is not applicable
Any registered partnership firm can be a member in its individual capacity
Tax deductions to the donors of the Company
It is important to have objects with non-profit motive, and then it can be registered as Section-8 Company.
No, certainly it is not permitted to apply INC-29 for Section-8 Company. The reason is Section-8 Companies need to get license from the RD and INC-29 facilities are not suitable for this specific company.
The registration under Companies Act, 1956 is unchanging in nature and provides continuous existence. Under extreme conditions, such companies can be reimbursed. The government is the official liquidator of Corporations.
Laws that are regulating the Cooperative Societies in India are as follows:
State Cooperative Societies Acts of individual states
Multi-State Cooperative Societies Act, 2002 for the multi-state Cooperative societies including Area of operation in more than one State
Yes, Corporate Social Responsibilities (CSR) is a part of all companies and similar to Section 8 Company it has non-profit related objectives.
The main objectives of Section 8 Company must ensure that it is related apply its profits(if any) in promoting and supporting the objectives.
It should not provide any benefit/fund to its members. The objects to be promoted includes:
Protection of Environment
To register Section 8 Company no paid-up capital is required. This is mentioned under sub section 6 of section 3 as per Companies Act, 1956.