Business Registrations
Section 8 Company
What Is a Section 8 Company?
In India, a Section 8 Company functions as an NGO dedicated to advancing various fields such as art, science, education, sports, and charitable activities. Unlike Trusts or Societies, profits generated by Section 8 Companies are reinvested to support their stated objectives rather than being distributed to company members. The registration process for a Section 8 Company falls under the jurisdiction of the Ministry of Corporate Affairs (MCA), distinguishing it from Trusts and Societies, which are governed by State Government Registrars. Ease Compliance can help you navigate the entire process, but first, let’s explore the key aspects of Section 8 company.
Features of a Section 8 Company
- Separate Legal Entity: These types of companies in India are considered as a separate legal entity, which means that they can own property, sue or be sued in their name, and enter into contracts.
- More Trustworthy & Credibility: Due to its non-profit nature, Section 8 Companies are often viewed as more credible & trustworthy than other types of Companies.
- Nil Stamp Duty:These Companies are exempted from paying stamp duty on their Registration Documents.
List of documents required
List of documents related to the Director of the Company
- Aadhar and PAN Card of the Directors;
- Latest passport-sized photos of all Directors;
- Copy of bank statement or utility bill (not older than two months)
- Copy of passport (in case of foreign national or NRI)
List of documents related to the Company’s Registered Office
- Copy of latest electricity bill or water bill or gas bill (not older than 2 months)
- Non Objection Certificate (NOC) from owner of the property (if place is consent)
- In case of rented office, Rent Agreement is required.
Other documents
- MoA & AoA
- Consent of Nominee (INC-3)
- DSC (Digital Signature Certificate)
- Declaration by the 1st Director Subscriber (an affidavit is not required)
- A Resolution passed by the promoter company
Beyond Incorporation: Ongoing Support
Our services extend beyond incorporation. We can assist you with:
- Maintaining Statutory Registers and Books of Accounts
- Taxation Planning and Compliance
- Financial Reporting and Analysis
- Secretarial Services
Get in Touch with Us Today
Ready to embark on your entrepreneurial journey with a Section 8 company? Contact Ease Compliance We’ll ensure a smooth incorporation process and provide ongoing support to help your business flourish.