Section 8 Company @Rs.6,299*
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Our Pricing
Basic - ₹ 13999/-
- Register your Section 8 company at the Ministry of Corporate Affairs
- Drafting & Filing by CA/CS
- Expert advice by CA/CS
- MCA processing and CIN
- RD license
- Company PAN & TAN
- MOA
- AOA
- Allotment of 2 DIN
Standard - ₹ 16999/-
- Register your Section 8 company at the Ministry of Corporate Affairs
- Drafting & Filing by CA/CS
- Expert advice by CA/CS
- MCA processing and CIN
- Company PAN &
- TAN
- MOA
- AOA
- ALLOTMENT OF MIN. 2 DIN
- 80G REGISTRATION
- 12 A REGISTRATION
- KYC OF DIRECTORS
Overview
A Section 8 Company, as defined in the Companies Act of 2013, refers to a non-profit association which has been formed with the intention of promoting commerce, art, science, sports, education, research, social welfare, religion, charity and environmental protection, among other things. Unlike ordinary businesses, these companies will reinvest earned revenues so as to promote social or charitable objectives instead of allocating dividends to shareholders.
Important Features of a Section 8 Company
- Purpose: Focuses on charitable or other non-profit activities in the interest of public welfare.
- Use of Income: Any profit collected will be strictly for furthering the company’s stated objectives. A member’s profit share is not allowed.
- Form of Business: A company that is registered under the Companies Act 20161 has the same status as other companies. It has the benefit of limited liability as well as a separate legal persona.
Advantages of Registering as a Section 8 Company:
- No charge Taxes: A Section 8 Company is normally qualifies for the benefits of no tax under the Income Tax Act and receiving no tax donor under 80G.
- Enhanced Reputation: The tough registration process ensures and is monitored supports the body’s reputation among donors, stakeholders, and even government departments which have changed the company’s credibility.
- Minimal Liability: Liabilities of the company do not extend to the members and directors as their personal assets are protected enjoying limited liability.
- Endless Succession: The company shall continue to exist irrespective of whether members or directors change, which helps in preserving continuity.
Steps to Register a Section 8 Non-Profit:
- Get Digital Signature Certificates (DSC): Obtain DSCS for all proposed directors so that they can submit documents electronically.
- Get Director Identification Numbers (DIN): Get DINs for all the directors from the MCA portal.
- Reservation of Name: Suggest a name and apply for it to be reserved with the RUN (Reserve Unique Name) service offered on the MCA portal.
- Preparation of Memorandum of Association in short MOA and Articles of Association: Formulate Memorandum of Association (MOA) and Articles of Association (AOA) setting forth the company’s goals and governance policies.
- Submission of Application for License: Apply for a license under section 8 by submitting form INC-12 to the Regional Director along with MOA, AOA and requisite declarations by directors.
- Submission of Incorporation Documents: After receiving the license, submit the documents for incorporation. These include form SPICe (INC-32) with the MOA and AOA, and file the documents with the Registrar of Companies (RoC).
- Application for PAN and TAN: The next step is the application for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
- Opening a bank account: After the company has been incorporated, a bank account must be opened under the name of the Company for the purpose of opening a business account.
Compliance and Annual Filings:
A Company registered under Section 8 is required to undertake annual compliances that include filing financial statements and annual returns, along with other records that are required to be maintained under the Companies Act of 2013. A failure to comply can result in penalties and impacts the company’s reputation and legal status.
In conclusion, the forming of a Section 8 Company constitutes a recognized procedure to formalize the practice of charitable activities in India. It has a strong legal structure, offers tax exemption, enhances credibility, and, therefore, serves to advance philanthropic activities effectively.
