Apply Section 8 Company Registration
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A Section 8 company is a company registered in India under Section 8 of the Companies Act, 2013 with the objective of promoting commerce, art, science, sports, education, research, charity, social welfare, religion, protection of the environment, or similar goals. These are non-profit organizations that must use any profits or income to further their stated charitable objects rather than distributing them as dividends to members. They are regulated by the Ministry of Corporate Affairs and are exempt from adding "Limited" or "Private Limited" to their names.
- Credibility:It offers the structure and credibility of a company, which can be advantageous for securing funding and partnerships.
- Trust:The regulatory framework and reporting requirements provide a level of transparency and trustworthiness to stakeholders.
- Tax Benefits:Section 8 companies are often entitled to specific tax benefits under the Income Tax Act, 1961
Section 8 Company
- Objective: Promotes charitable activities such as art, science, sports, education, charity, social welfare, or environmental protection.
- Profit Motive: Prohibited from using its profits to benefit its members.
- Name: Exempt from using the word "Limited" or "Private Limited" in its name.
- Capital Requirement: No mandatory minimum capital requirement.
- Regulatory Status: Enjoys certain regulatory benefits and tax exemptions.
- Purpose: Ideal for those aiming to make a social impact.
Private Limited Company
- Objective: Aims to generate profit and expand its business operations.
- Profit Motive: Profits are distributed among shareholders.
- Name: Must use the word "Private Limited" in its name.
- Capital Requirement: Has a minimum capital requirement, though it can be minimal based on financial capacity.
- Regulatory Status: Operates under standard commercial laws and regulations.
- Purpose: Suitable for businesses focused on profit-making and growth.
Key Similarities
- Both require a minimum of two directors for registration.
- Both offer limited liability protection to their members.
- Both require the preparation of Memorandum of Association (MoA) and Articles of Association (AoA).
the company the validity is also ended when your company crosses the 100 Crores turnover earlier.
Section 8 Company Registration- Overview
To register a Section 8 company, you must first obtain Digital Signature Certificates (DSCs) and Director Identification Numbers (DINs) for directors, reserve a unique company name, and draft the Memorandum and Articles of Association (MoA & AoA). Next, an application (Form INC-12) is filed with the Central Government to secure a Section 8 license, followed by the submission of the SPICe+ form for incorporation. Finally, the company receives its Certificate of Incorporation from the Registrar of Companies (ROC) and can then obtain a PAN and TAN.
Documents Required
Here is a detailed breakdown of the documents:
Documents for Directors and Members
- Identity Proof: PAN Card (mandatory for Indian citizens), Passport (for foreign nationals).
- Address Proof: Aadhaar Card, Voter ID, Driving License, or a Passport.
- Residential Proof: Latest bank statement, mobile bill, or utility bill (electricity, gas, telephone) not older than two months.
- Director Identification Number (DIN): For all proposed directors.
- Digital Signature Certificate (DSC): For each proposed director to sign electronic forms.
- Passport-Size Photograph: A recent, clear photograph for each director and member.
- Consent to Act as Director (Form DIR-2): The official consent from proposed directors.
Documents for the Registered Office
- Proof of Address: Any utility bill (electricity, water, gas) not older than two months.
- Rental Agreement: Required if the office premises are rented.
- No Objection Certificate (NOC): From the property owner, if the office is rented.
- Other Proof: In case of owned property, a house tax receipt or registry proof may be needed.
Company Documents
- Memorandum of Association (MOA): Outlines the objectives and scope of the company’s activities.
- Articles of Association (AOA): Details the internal regulations and governance of the company.
- Estimated Income and Expenditure Statement: A projection for the next three years.
- Declaration: From subscribers to the MOA that the documents conform to Section 8 provisions.
- Subscriber Sheet: Signed by each subscriber in the presence of a witness.