Section 8 Company Registration
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Price: ₹ 15,000/-
*Subject to approval of Government portal services
1) Inc. Govt fees upto 1 lakh capital
2) 2 DSC
3) INC-20A (Business Commencement)
4) Share Certificate
5) Memorandum of Association
6) Article of Association
7) PF Number
8) ESIC Number
9) PAN and TAN
10) Current account opening support
11) Company Name Approval
Section 8 Company Registration
The primary objective of registering a company as a Section 8 Company is to support non-profit goals, such as trade, commerce, the arts, charity, education, religion, environment protection, social welfare, sports research, community development, etc.
For NGO’s and Non Profit Organisations in India, Section 8 Company is ideal. There are two types of Section 8 Companies: Private Limited and Public Limited.
A non-profit organisation in India can be incorporated under Section 8 of the Company Act, 2013, as a non-profit company, or under the Registrar of Societies. For various entities, different laws apply.
If this company makes any profits, they will be used to further its goals rather than going to its shareholders as dividends. Subject to obtaining the necessary licences, such as 80G registration, 12A registration, FCRA registration, etc., these types of businesses can accept donations or funds from within India and/or from outside India.
Minimum requirement criterion to incorporate a Section 8 Company
✑ Digital Signature of all directors and shareholders.
✑ DIN of all directors.
✑ DIN of all Shareholders.
✑ Minimum 2 directors (in case of Private Section 8)
✑ Minimum 3 directors (in case of Public Section 8)
Process for Registration of a Section 8 Company Registration
Step 1 – Obtaining Digital Signature of the Director/Members – Every propose Director and member shall obtain Digital Signature (DSC)
Step 2- Name application for Section 8 Company with MCA – The name must comply with the guidelines provided by the Ministry of Corporate Affairs. Approved name of the OPC is available for 20 days from the date of approval. The name application request for a company name must be submitted to the Ministry of Corporate Affairs (MCA). The proposed company name must be unique. The name shall not be similar or resemble to the existing company/LLP registered. If the proposed Company is not incorporated within such period, the name shall be lapsed and will be available for other applicant/ OPC/Company.
Step 3- Incorporation documents – All documents and information pertaining to the registered office like utility bills not more than 2 months, directors, and members, as well as the Memorandum of Association (MOA) and Articles of Association (AOA), must be submitted via online forms (SPICe Forms) following the approval of the Company’s name.
Step 4- Government Approval – The Ministry of Corporate Affairs (MCA) will approve the forms and issue a Certificate of Incorporation along with a Pan card and Tan allotment letter if it determines that all the documents and information are accurate and complete. The Government also issues ESIC number and PF number on email id of the applicant.
Step 5- Opening of Current Account– Once a company is registered in India. Company is required to apply and open current account with any banks with required documents and filing of forms.
Required list of Documents for Section 8 Company Registration:
Once the name is approved, you need to prepare the following documents:
📋 Pan card of Director and Member
📋 Aadhar Card of Director and Member
📋 Electricity bill not older than 2 months
📋 Passport size photograph of Director and Member
📋 Passport/Driving license/Voting Card of Director and Member
📋 Bank statement/Utility bill of Director and Member
📋 Address proof for registered office of Company
📋 NOC(from the owners – if the premises is rented)
Advantage of Section 8 company Registration
Incorporating a Section 8 Company has a number of benefits, such as:
1) Benefits from taxes – Section 8 Companies are eligible for tax breaks and deductions, including the exemption from paying income taxes on surplus earnings.
2) Limited liability – Members of a Section 8 Company are only held liable for the amount of capital they have invested, protecting their personal assets.
3) No minimum capital requirement – Section 8 companies are not subject to any minimum capital requirements.
4) Separate legal entity – A Section 8 Company has the capacity to enter into agreements and hold property in its own name because it is a separate legal entity from its members.
5) Credibility – Because Section 8 Companies are registered under the Companies Act, they are regarded as being more trustworthy and credible than other types of organizations, particularly in the social sector.
6) Charity-focused goals – Section 8 Companies are established to advance charitable causes like social welfare, healthcare, the environment, and education.
7) Government recognition – Section 8 businesses are acknowledged by the government, making them eligible for grants and donations from government organizations.
Summary
Overall, setting up a Section 8 Company can have a number of advantages, particularly for those looking to promote charitable endeavors while receiving tax advantages and limited liability.
Further it is advisable to consult or take assistance of an expert professionals like Anuvartana Services LLP for error less and smooth OPC Registration in Pune.
If you want to register a Section 8, Anuvartana Services LLP is best place for it.
For more information or assistance in registering an Section 8 in Pune, you can connect our experience experts for a free consultation. on 8975973470 or anuvartanaservices@gmail.com
A Section 8 company typically takes 15-20 days for registration.
In the event that the employee is also a member, he may only receive compensation for actual out-of-pocket expenses, reasonable and appropriate interest on money lent, or reasonable and appropriate rent on real estate left to the company.
Under Section 8 of the Companies Act, a person or group may apply to the Registrar of Companies (ROC) for permission to form a company.
For a Section 8 company, there is no minimum capital requirement in India.
A Section 8 company is a non-profit organisation that works on societal issues. Section 8 The word “Foundation” or any other word may be used as the final part of a company name.