Section 8 Company
-
Registration Under
Indian Companies Act, 2013
-
Time required
50 Working Days
-
Documents Required
1. Pan card copy of each Director
2. DSC of each Director
3. DIN of each Director
4. Six Photographs of each Director
5. ID proof of each Director
6. Address Proof of each Director
-
Documents Required
7. Latest two months Bank Statement
of each Director
8. Rental Agreement / Property Tax
Paid Receipt for the place of business
9. Electricity bill -
Min. no. of Directors
2 or 3
-
Fees
Rs. 29,999
Section 8 Company
As per Section 8 of the new Companies Act, 2013, a Section 8 company can be established for a promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object, provided it intends to apply its profits, if any, or other income in promoting its objects" and intends to prohibit the payment of any dividend to its members.
A Section 8 Company is similar to a Trust or Society except, a section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.
Section 8 company registration procedure
To register a section 8 company in India, the process is similar to the incorporation of other companies (except an additional license is required). The applicant looking to start a section 8 company is required to file Form INC-1 for name availability. Once the name is approved, there is a further requirement of obtaining a license for a Section 8 Company, for which Form RD-1 is to be filed in order to obtain a license for such company. After obtaining license number, applicant can proceed further to incorporate a company by filing e SPICe forms .
DSC and DIN Application:
Digital Signature Certificate (DSC) and Directore Identification Number (DPIN) are required to obtain for all the Proposed Partners. You will need to provide required scanned documents, within 5 to 10 working days you will get your DSC and DIN.Sec 8 Company Incorporation:
As soon as we apply for the DSC, we will ask you for the unique name you wish to give to your company, as well as some scanned documents regarding the proposed company and its directors. These will be used to file for incorporation with the MCA. At this stage, you will also need to pay government fees. The Certificate of Incorporation will be approved at the end of this process.PAN and TAN Application:
Every Company needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). We will make the application online ourselves; you need to provide the all required Documents. The PAN and TAN will be couriered to your registered office address in 21 working days.Frequently Asked Questions about Section 8 Company
Yes, you need a Minimum of 2 Directors for a Section 8 Company Registration.
Any Individual / Organization can become the member of Section 8 Company including Foreigners / NRI.
Profit or Income of Non Profit Company can only be used for promotion of the Charity work in which it is involved. Even declaration of dividend or distribution of profit to its promoters is not allowed.
No. Promoters of Non Profit Company can not be employed as paid employee of the company.
Yes, Section 8 Company be converted into Private Limited Company after taking the approval from ROC.
Yes, it is necessary to have a Non-Profit Motive to incorporate a Section 8 Company.
.
The Life Span of the company is not dependent on or related to the life of any particular Person(s) or Individual(s). It could go on indefinitely until it accomplishes its objective, merges with another such company, or goes bankrupt.