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Section 8 Company

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; which pertains to 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.
 
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Presently Section 8 companies are regulated by the Registrar of Companies and governed by the provisions of Companies Act, 2013 and rules and regulations made thereunder. License under section 8 is issued by the Office of Regional Director, Ministry of Corporate Affairs, Govt. of India (Power delegated to the Registrar of Companies) and registering authority is Central Registration Centre, Ministry of Corporate Affairs. Central Registration Centre has its only office in India at Manesar, Gurugram in the State of Haryana in the National Capital Territory of Delhi. 
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Registration of Section 8 Company

We ASK Commercial Solutions with the aim to help you with section 8 company registration in India. In case of any question(s) or clarification(s) required, you can 

For hassle free registration, submit all required documents to our mail id.

   Procedure for registering a Section 8 Company in India

 
  1. Obtaining DIN and Digital Signature Certificate.

  2. Filing name application and obtaining name approval from the Central Registration Centre, Ministry of Corporate Affairs.

  3. Prepare Memorandum of Association (MOA) as per INC-13 and Articles of Association (AOA).

  4. Preparation and Filing of License Application (in Form INC-12).

  5. After getting Licence preparation and submission of SPICe form (Incorporation Papers).

  6. Submission of Clarifications/ Additional information, if requested by the Central Registration Centre.

  7. Certificate of Incorporation & Allotment of PAN & TAN.

   Requirements For Directors, Shareholders, Capitals and Objectives

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  • To register a Section 8 Company there is no need of a minimum paid up capital.

  • There should be at least two individuals to act as Directors and shareholders of the company, if it is a Private Company and at least seven persons out of whom three individuals should be Directors of the company, it is a Public Limited Company.

  • Apart from individuals, any legal person such as Company, LLP, Trust, Foreign corporation/company can also be a shareholder in a section 8 company.

  • Their objectives are purely charitable and hence, these companies do not aim to make profits.

  • At least one Director shall be resident in India.

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  Documents Required for Section 8 Company

 

As per nature of Section 8 Company, It can be a Private Company or a Public Limited Company; hence the documents required as per type of registration is mentioned Click here

In addition to above documents, for getting Licence the documents required are-

  • A declaration confirming the application by an Advocate, a Chartered Accountant, Cost Accountant or a Company Secretary in Practice on the Non – Judicial stamp paper of prescribed value.

  • List of names, descriptions, addresses & occupation of the promoters as well as Board Members of the proposed company.

  • A statement showing details of assets and liabilities of the company as on date with the application.

  • An estimate of future annual income and expenditure of the proposed company for next three years, specifying the source of income and object of expenditure.

  • A statement giving brief description of work, if any, already done by the association.

  • A statement specifying briefly the grounds on which the application is made.

  • Certified true copy of resolution passed in general meeting and board meeting

  • A declaration in prescribed form on non – judicial stamp paper by each person making an application.

  • A letter of authority.

  Advantages of Section 8 Company

 

  • The quorum for board meetings is fixed at two.

  • Only 14 days’ notice (compare to companies; 21 days) shall be required to summon an Annual General Meeting (‘AGM’).

  • There are certain tax deduction to the donors of the Company associated with the Section 8 Company.

  • One of the most prominent exemptions which are provided is that a person can, now, be a director in more than 20 Section 8 Companies. However, restriction is the same up to 15 companies for other types of companies.

  • Being a company with charitable objectives, the Companies Act has provided several benefits and exemptions to them.

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  Why choose ASK Commercial Solutions ?

ASK Commercial Solutions can help you with company registration across India hassle free and at a very competitive price. We have a team of qualified company secretaries and chartered accountants, who ensure highest customer satisfaction and timely delivery of service.

We shall be extending our support at the initial consultation, draft the objects and name selection for the company, and file the necessary application for incorporation and regular follow-up with the ROC until the certificate of incorporation is issued. Entire process is managed through online, with regular communication and assistance available throughout. After Registration we provide all service related to RoC Compliances, Accounting, Audit, Taxation, MSME, IEC, GST, Start-Up and other registration required. Contact us for any of your requirement.