Overview
Section 8 Company, also known as a Not-for-Profit Company, is a type of company incorporated under Section 8 of the Companies Act, 2013 in India. It is formed for the purpose of promoting commerce, art, science, sports, education, research, social welfare, religion, charity, or any other such useful object.
Section 8 companies can operate like any other limited company, but their primary objective is to promote charitable causes and not for profit.
Minimum Requirement
01
New & Unique Name
02
Minimum Two Person
- At least 2 person required to act as the initial shareholder & director.
- Atleast one of the director must be an Indian Resident.
03
Registered Address
Company Premises can either be owned or rented.
04
Capital Requirement
Documents Requirements
Documents of Directors
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PAN & AadharCard
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Other ID Proof Driving license, Voter Id or Passport
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Address Proof Bank Statement or Utility Bills - E.g.- Electricity Bill / Water Bill / Property Tax
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Colour Photo
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Email id and Mobile Number
Business Address Proof
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Address Proof (owned) Sale Deed ( Ownership Documents), Electricity Bill / Propert Tax
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Address Proof (Rented) Rent Agreement , Electricity bill, NOC from Owner of the premises
Advantages
Separate Legal Entity
Perpetual Succession
Professional Management
Charitable and Social causes
Limited liability of Members
Fund Raising
Tax Benefits
Recognition and Credibility
Steps
Verification of Documents provided for incorporation by you. And application for DSC.
Application for Name approval
Drafting of MOA and AOA
Filing of SPICE + Form
Once SPICE + form got approved , ROC issue Certificate of Incorporation.
Your Takeouts
DIN for 2 Directors
DSC for 2 Directors
Certificate of Incorporation (CIN)
Memorandum of Association and Article of Association
E- PAN of Company
E- TAN of Company
Professional Tax Registration
( In Maharasthra )
GST Registration ( If required seperately chargeble )
Shop and Establishment
Registration
Compliances
To promote transparency, sound governance, and safeguard the interests of all stakeholders, certain compliance requirements and related filings must be fulfilled within established timelines.
Our company assists in fulfilling these obligations with ease and efficiency. Compliance requirements can be broadly categorized into four types
For further details and expert guidance, kindly seek the consultation of our seasoned startup consultants.
One Time Compliances
One Time after incorporation like appointment of Auditor, Declaration for Commencement of business, Issuance of share certificate etc
Event Based Compliances
Change of Directors, Change of regd. Address,Allotment of shares etc.
Regular Compliance
Accounting , Tax Filing , Maintenance of records and registers etc
Annual Compliance
ROC Annual filing, Audit of financial statement, ITR filing etc
Frequently Asked Question
Private limited company
Public limited company
Limited liability Partnership
One person company
Nidhi Company
Producer Company
Section-8 Company
| A Digital Signature Certificate (DSC) is an electronic document that is used to verify the identity of an individual. It is issued by a Certifying Authority (CA) and contains the user's name, a serial number, expiration dates, a copy of the user's public key, and the digital signature of the issuing CA. DSCs are used to digitally sign electronic documents and transactions, such as e-filing of income tax returns, e-tendering, and e-procurement. It is similar to a physical signature but is used in the digital world. |
The CIN is made up of three parts:
1. The first two characters represent the 'industry classification code' which identifies the type of industry the company belongs to.
2. The next five characters represent the 'location code' which identifies the state and the ROC where the company is registered.
3. The last 14 characters represent the 'incorporation number' which is unique to each company.
CIN is a permanent number for a company and it does not change even if the company changes its name or location. It can be used to track the company's registration, compliance, and financial status on the MCA's website. It is also used in various other government and non-government transactions.
The Memorandum of Association (MOA) is a legal document that sets out the constitution of a company. It serves as the company's charter and outlines the company's objectives, the capital it intends to raise, and the nature of its business. The MOA is one of the primary documents required to be filed with the Registrar of Companies at the time of incorporation of a company.
The MOA includes details such as the company's name, registered office address, the main objects of the company, the authorized share capital, and the names and addresses of the subscribers (i.e. the individuals who have agreed to take shares in the company). It also includes any objects which are ancillary or incidental to the attainment of the main objects, and any other powers that the company may have.
It is important to note that MOA is a public document and can be inspected by anyone on payment of prescribed fees. It is also important to review and update the MOA if there are any changes in the company's objectives or capital structure.
The AOA typically includes provisions regarding the company's objectives, the powers and duties of the directors, the rights and duties of the shareholders, the authorized share capital and the procedures for issuing and transferring shares. It also includes provisions on how the company will be run, including the procedures for holding meetings, appointing directors, and making decisions.
It is important for companies to draft their AOA carefully, as it can have significant implications for the company's operations and management. Our Expert Team at SureTax Fincare will provide you legal advice when drafting or amending their AOA to ensure compliance with applicable laws and regulations.
Paid-up capital is an important measure of a company's financial strength, as it represents the amount of equity that shareholders have invested in the company.
The company can only issue shares up to the authorized capital limit, in this case, the paid-up capital would be less than the authorized capital.
It can be used for incorporating a new company, incorporating a One Person Company (OPC), incorporating a Small Company and incorporating a Producer Company.The SPICe+ form can be used to incorporate a new company, obtain a PAN, TAN, and GST registration, and obtain a DIN for directors in a single form.
However, there may be some restrictions on the percentage of shares that can be held by NRIs and foreigners in specific sectors. It is recommended to consult with our expert team at Sure Tax Fincare, to understand the specific regulations and compliance that needs to be followed.