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Section 8 Company Registration
It is a one stop solution for all kind of Registration or Compliance Requirement.
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Section 8 Company Registration
Section 8 company is a term used in India to refer to a type of not-for-profit company. It is registered under Section 8 of the Companies Act 2013 and is governed by the Ministry of Corporate Affairs. These companies are established with the aim of promoting commerce, the arts, science, religion, charity, or any other useful object, and they must apply their profits, if any, to the promotion of their objects. Section 8 companies enjoy several tax benefits and are subject to fewer regulations than other types of companies.
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Documents and details required for section 8 company registration
Passport-size photographs
Copy of PAN Card
Copy of AADHAAR CARD or VOTER CARD or DRIVING LICENCE or PASSPORT
Copy of Latest BANK STATEMENT or any UTILITY BILL
Copy of latest utility bill and NOC from the owner of the premises to use the premises as the registered office of the company
What we offer
Benefits of Section 8 Company Registration
Tax exemptions
Section 8 companies are eligible for tax exemptions under Section 80G and 12A of the Income Tax Act. This means that donations made to the company are eligible for tax deductions for the donors. It can result in significant tax savings.
Reputation and credibility
Having a Section 8 company can enhance the reputation and credibility of the organization, as it is recognised as a non-profit entity by the Indian government. The non-profit status implies that the company is serving a social cause and is not driven by the motive of making profits. This can help in building trust with stakeholders such as donors, volunteers, employees, and customers, who are more likely to support a company with a social mission.
Easier fundraising
Easier fundraising is one of the key benefits of having a Section 8 company in India. Non-profit organisations are often seen as more trustworthy and credible, which can make it easier to raise funds from a variety of sources.
Better governance
Section 8 companies are required to adhere to strict governance rules and regulations, which help to ensure transparency, accountability, and ethical business practices.
Reputable status
Section 8 companies are considered to be organizations of repute and credibility, which can enhance their reputation and credibility in the eyes of stakeholders, such as donors, customers, and partners.
Easy incorporation
Section 8 companies have a relatively simple and straightforward process for incorporation, which can be completed online in a matter of a few days.
Eligibility for grants and funding
Section 8 companies can raise funds through donations, grants, and other means that can be used to carry out their objects and activities.
Perpetual existence
Section 8 companies have a perpetual existence, which means that they can continue to exist even if members or directors change, and their objects and activities can continue even after their incorporation.
Frequently Ask Question
The key benefits of registering a Section 8 company in India include eligibility for tax exemptions, recognition as a non-profit organization, and the ability to raise funds from the public.
Registrars of Companies, CRC is authorised to issue licences to Section 8 companies.
According to the provisions of the Companies (Incorporation) Rules, 2014, the name of a Section 8 company shall include the words foundation, "forum, "association, "federation, "chambers, "confederation," "council," etc.
Yes, a Section 8 company can raise funds from the public through donations, grants, and other means, subject to compliance with relevant laws and regulations.
No, a one-person company (OPC) cannot be incorporated as or converted into a Section 8 company.
Yes, a Section 8 company can be converted into any other company by following the required rules and regulations of the Companies Act of 2013.
Yes, a society registered under the Societies Act can be registered or converted into a Section 8 company.
Yes, the objects of Section 8 companies can be altered with the approval of shareholders and the Registrar of Companies.