Section 8 company or NGO or NON Profit organization

Section 8 Company in Companies Act, 2013, which pertains to a established ‘for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object’, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members.

Therefore, Section 8 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes

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.

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1. TAX BENEFITS U/S12AA AND U/S 80G OF INCOME TAX ACT TO THE DONOR
2. MINIMUM PAID-UP CAPITAL IS NOT REQUIRED
3. EASE AT TRANSFER OF TITLE/OWNERSHIP
4. STAMP DUTY REGISTRATION IS EXEMPTED
5. ANY REGISTERED PARTNERSHIP FIRM CAN BE A MEMBER IN ITS INDIVIDUAL CAPACITY
6. GREATER FLEXIBILITY

1. OBTAINMENT OF DSC (DIGITAL SIGNATURE CERTIFICATE) FOR ALL DIRECTORS AND SHARE HOLDERS.
2. APPLICATION OF DIN (DIRECTOR IDENTIFICATION NUMBER) FOR ALL THE PROPOSED DIRECTORS.
3. OBTAINING THE NAME APPROVAL FOR THE PROPOSED SECTION 8 COMPANY.
4. DRAFTING THE MEMORANDUM OF ASSOCIATION, ARTICLES OF ASSOCIATION, ESTIMATED ANNUAL INCOME FOR 3 YEARS AND OTHER DOCUMENTS FOR THE COMPANY.
5. APPLYING FOR THE ISSUE OF LICENSE FOR THE PROPOSED SECTION 8 COMPANY.
6. PREPARATION OF THE ATTACHMENT FORMS FOR THE INCORPORATION VIZ., INC 8, INC9, DIR 2, AND OTHER APPLICABLE AFFIDAVITS AND DECLARATIONS.
7. FILLING OF THE E FORMS INC 32, INC 33 AND INC 34 FOR THE INCORPORATION OF THE COMPANY
8. OBTAINMENT OF THE CERTIFICATE OF INCORPORATION, PAN AND TAN .

i) Passport size photograph
ii) PAN Card copy
iii) Proof of Identity (Any one of the below)
– Passport
– Aadhar Card
– Driving License,
– Voter ID
iv) Proof of Residence (in the name of applicant) (Any one of the below)
– Bank Statement
– Electricity Bill
– Telephone Bill
– Mobile Bill
v) Proof of Registered Office Address:
A) Rent Agreement AND
B) Any one of the below (Mandatory)
– Electricity Bill
– Telephone Bill
– Gas Bill
– Mobile Bill