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Section 8 company

Section 8 company

The section 8 company is like a charitable and social welfare trust or society, but this section 8 company registered under MCA (Ministry of corporate affairs).The section 8 company is also known as a non profit company or organization.

This well drafted and generous webpage offers very informative and useful information about section 8 company registration in India. In the former Indian companies Act of 1956, such types non profit companies were described in the section 25, and were therefore famous as the section 25 companies then.

But now, the new Indian companies Act of 2013 these companies are formed, governed and regulated as per the rules and provisions provided in the section 8.

Features

As per the section 8 of the companies act, 2013

  • Main and ultimate objectives of a company or organization are centred at supporting and promoting diverse activites and programs designed for social development and social welfare, related with the fields of arts and science, education, religion, social welfare, sports, commerce, research, charity, environmental protection etc.,
  • No any divided will be paid to its members.
  • All revenues and profit earned by a section 8 company will be utilized solely for the above mentioned non profit objectives.

Exclusive Benefits of Section 8 company

Legal advantages

  • Many privileges and exemption under company law.
  • Exemption of stamp duty for registration.
  • Registered partnership firm can be a member its own capacity.
  • Tax deductions to the owners of the company u/s. 80G of the income tax act.

Without share capital

These companies can be formed with or without share capital, in case they are formed without capital, the necessary funds for carrying the business are brought in the form of donations, subscriptions from members and general public.

Not required to add suffix

section 8 companies are not required to add suffix limited or private limited at the end of their name.All companies having limited liability are required to use the term ‘limited’ or ‘private limited’ as the case may be in their names as required by section 13. But its section 25 companies are allowed to dispense with the use of term ‘limited’ or ‘private limited’ from their names [sub section-(6)]. This helps the company to enjoy the limited liability without disclosing to the public the nature of liability of its members.

Easy transferable ownership

The shares and other interest of any member in the company shall be a movable property and be transferable in the manner provided by the articles, which is otherwise not easily possible in the other business forms.Therefore, it is easier to become or leave the membership of the company or otherwise it is easier to transfer the ownership

Registration Process

Step 1

Digital Signature Certificate(DSC) and Director Identification Number(DIN) for all the proposed Directors of the Company must be obtained.

Step 2

Digital Signature is the only secure and authentic way that a document can be submitted electronically.All filings of e-forms on MCA Portal are required to be filed with the use of Digital Signatures by the person authorised to sign the documents.For Obtaining Digital Signature application needs to be made, to licensed Certifying Authority(CA) along with a self attested copy of Proof of Identity & Proof of Address.

Step 3

Approval to the proposed name of the company and reservation of the same with office of the concerned ROC, with the help of form INC-1 & INC- 7.Submitting the AOA and MOA of the company within six month from the reservation of approved company name.

Simple and Transparent Pricing

Basic

Rs.36999 /-all inclusive price

    Section 8 Company registration with DSC, DIN, MOA, AOA, Name approval, Section 8 company license, PAN, TAN, incorporation fee

Standard

Rs.40999 /- all inclusive price

    Section 8 Company registration with DSC, DIN, MOA, AOA, name approval, Section 8 company license, PAN, TAN,

Premium

Rs.44999 /- all inclusive price

    Section 8 Company registration with DSC, DIN, MOA, AOA, name approval, Section 8 company license, PAN, TAN, incorporation fee, one year TDS filing and trademark registration.

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