Section 8 Company Registration

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Section 8 Company Registration

Section 8 Company pertains to promote 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.

Documents Required

for Section 8 Company Registration

5 Simple Steps

to Start Section 8 Company in India

Advantages & Benefits

Why to Register Section 8 Company .

No Paid Up Capital

To register a Section 8- Company there is no need of a minimum paid up capital. Only two members are required if it is a Private Company and 7 members are required in case it is a Public Limited Company.

Tax Deduction

There are certain tax deduction to the donors of the Company associated with the Section 8 Company.

Exemptions under Company Law

There are various privileges and exclusions under the Company Law. Companies Auditor is not Applicable. Stamp duty registrations are also exempted.

Limited Liability

The greatest benefit of Section 8 Company is limited liability. If any liability arises then its member is not personally affected; members are only liable for unpaid shares held by them and not more than that. Being the biggest advantage with this type of company

Greater Flexibility

A Section 8 company is required to perform lesser legal formalities as compared to a public company. It enjoys special exemptions and privileges under the company law.

Separate Legal Entity

This is the most prominent quality of a Section 8 Company. It refers to the statement that company and its members are completely distinctive. The biggest advantage of a section 8 company is that its identity is distinct from that of its members.

Frequently Asked Questions (FAQs)

How many people are required to register a section 8 company?
A minimum of two people are required to register a section 8 company in India.
Is an office required for starting a Section 8 Company?
An address in India where the registered office of the Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.
Can Section 8 Company be converted into Private Limited Company?
Yes, Section-8 Company can be converted into Private Limited Company if someone wishes to do so in future.
Can INC-29 be applied for Section-8 Company?
No, INC-29 is not applicable for Section-8 Company as it’s important to get license from the RD for Section 8 companies.
For which purposes the section 8 company can be registered?
Section 8 company can be registered for many social factors like Education Poverty Disease Blood bank Environment protection Other objects for general public utility.
Is there any CG approval required to Register a Section 8 companies in India?
Yes, to register the section 8 company in India, the central government approval is required. CG approval is applied before company registration. When the government is satisfied that registration is seek for some serious stuff and not for tax planning, then they proceed and grant the registration.
What is the minimum capital requirement for section 8 company?
There is no minimum capital requirement for Section 8 Company in India. If you are planning to register a section 8 Company, then you don’t need to worry about the capital required.
How to appoint auditor under section 8 Company?
Auditor under section 8 company is being appointed within 30 days by the board of Directors and no Central Government approval is required.