Section 8 company Registration

Section 8 company Registration

What is Sec. 8 company?

Company whose objectives is to promote fields to promote fields of arts, Commerce, Science, research, Education, Sports, Charity, Social welfare, Religion, Environment Protection or other similar objectives. This company also apply their profits towards the furtherance of their cause and do not pay dividend to their members.

Features:
  • Charitable Objectives
  • No Minimum Share capital
  • Limited Liability
  • Government License
  • Privileges
  • Firms as members
Advantages:
  • Members have limited liability
  • No minimum capital requirements
  • They get several tax exemptions
  • Stamp duty and high fees are not payable for Registration
  • They have perpetual existence and separate legal status
  • Exemptions from carrying out several procedural compliances
Disadvantages
  • Members of the company can not get any dividend
  • Officers and Directors do not get benefits and allowances
  • Can only use the profits for furthering charitable aims and objectives.
  • Amendment of memorandum and articles require central Government permission
Documents required
  • Minimum Two Directors required
  • Pan card, Aadhar card , Mail id , Mobile Number , passport size photograph
  • Voter id/ Driving License/ Passport – any one document
  • Bank statement / Passbook- any one document Objectives
  • Latest Electricity Bill, Rent agreement, NOC
  • Name of company

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