What is Section 8 Company
A Section 8 company is a type of not-for-profit organization in India that is formed with the primary objective of promoting arts, commerce, science, research, sports, education, social welfare, religion, charity, or any other useful objective.
It is registered under Section 8 of the Companies Act, 2013, and is unique because it does not aim to generate profit. Any profits made are utilized towards promoting the objectives of the company, without any distribution of dividends to its members.
Benefits of a Section 8 Company
Registering a Section 8 company comes with several benefits, including:
• Tax Benefits: Section 8 companies enjoy various tax exemptions under the Income Tax Act, encouraging donations and funding for non-profit activities.
• Credibility: The legal framework provides a high level of trustworthiness to donors, partners, and stakeholders.
• Limited Liability: Members’ liability is limited to the amount they contribute, reducing personal risk.
• No Minimum Capital Requirement: There is no minimum capital requirement for setting up a Section 8 company, making it easier to start.
• Exemptions from Stamp Duty: Section 8 companies are exempt from stamp duty on certain legal documents.
Scope of Services for a Section 8 Company
If you’re considering starting a Section 8 company, our team can assist you through each step of the process. Below are the services we offer to help you establish and manage a successful Section 8 company:
1.Section 8 Company Registration
- Complete guidance on the registration process, including drafting the Memorandum of Association (MOA) and Articles of Association (AOA).
- Assistance with obtaining the Digital Signature Certificate (DSC) and Director Identification Number (DIN) for the company’s directors.
- Filing the application for name approval and securing the necessary approvals from the Ministry of Corporate Affairs (MCA).
How to Register a Section 8 Company
To register a Section 8 company, follow these steps:
- Obtain DSC and DIN: The first step involves obtaining a Digital Signature Certificate (DSC) and Director Identification Number (DIN) for the proposed directors.
- Name Approval: Apply for the company’s name approval with the Registrar of Companies (RoC).
- MOA and AOA Drafting: Draft the Memorandum and Articles of Association, outlining the company’s objectives and rules.
- Filing the Incorporation Form: Submit the required forms along with supporting documents to the Ministry of Corporate Affairs.
- Certificate of Incorporation: Once approved, you’ll receive a Certificate of Incorporation and can commence operations as a Section 8 company.
Why Choose Us for Your Section 8 Company Needs?
• Comprehensive Support: From registration to ongoing compliance, we provide complete support for all stages of running a Section 8 company.
• Experienced Professionals: Our team comprises legal and financial experts with extensive experience in the non-profit sector.
• Tailored Solutions: We understand that each organization is unique, and we customize our services to suit your specific needs and objectives.
• Client-Centric Approach: Your vision for social impact is at the core of our services. We work closely with you to ensure your goals are achieved effectively.
Contact Us, If you are interested in setting up a Section 8 company or need assistance with any related services, we are here to help.Contact us today to speak with our experts and take the first step toward creating a meaningful social impact.
