Section 8 Company
Indian Companies Act, 2013
50 Working Days
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
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
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 .