Ask 4 Compliance | Section 8 Company
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SECTION-8 COMPANY

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REGISTRATION OF SECTION-8 COMPANY

A non-governmental organization (NGO) usually termed as non-profit Organisation usually deliver resources or serve some social or political purpose. NGOs or Non-profit Organisation are primarily concerned with promoting a cause and engaged in a wide range of activities. Non-profit Organisation or charitable institution in India can be registered in three ways i.e., either it can be registered as Trust, or Society or a Section 8 Company. According to The Companies Act,2013 Section 8 Company can be incorporated to promote Art, Science, and Commerce, education, Sports, Social Welfare, Research, Charity, Religion, Environment and similar objects. These companies are not seen doing activities of manufacturing, but are mere service providers, they solely works for the betterment of the general public.

Tax deduction under Income Tax Act and no stamp duty on registration are some of the benefits given to Section 8 Company. Income of such companies is also exempted if it is registered under 12-A of Income Tax Act. Registering under section 80G of Income tax, the donor to the company gets deduction about 50% from their taxable income and some qualify at the rate of 100%. To avail all the benefits, registration and obtaining license is a must. Central Government issue license to Section 8 Company upon submission of certain documents. After obtaining license, it can be used to avail many benefits.

Section 8 Companies are more reliable to general public also due to their easy management, registration under Registrar of companies and effective objectives.

Our team of highly qualified professionals at Ask4compliance.com can help you to establish a Section-8 Company to start your social work as a corporate entity and to avail host of benefits.

Process & Timeline

10-15 days

Professional Fees

Rs. 15500

(GST, Government Fees and other Out of Pocket Expenses Extra)

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ADVANTAGES OF SECTION-8 COMPANY

  • Income Tax Benefit: Section 8 Company can claim exemption of the Income, after getting itself registered under section 12-A of Income Tax Act.
  • Advantage to Donor: After incorporation of Section 8 Company and getting itself registered under 80-G of Income Tax Act, the donors of that company can claim deduction of any donation made to the company.
  • Name of the Company is Protected: Name of the Section 8 Company gets protected once it get itself registered with the Registrar of companies.
  • Enjoys the Privilege of Limited Company: Section 8 Company registered with the Registrar of company enjoys all the privileges of a Limited liability company. Moreover, it also gets many exemptions under company law in comparison to private/public limited companies.

DOCUMENTS REQUIRED FOR REGISTRATION OF SECTION-8 COMPANY

  • Passport size photographs of Director and Shareholders.
  • Proof of identity and address for each of the Directors: Self attested copy of Pan Card, Voters Identity Card/Aadhaar Card/Passport/Driving license as a proof of identity and address proof
  • Proof of identity and address for each of the members: Self attested copy of Pan Card, Voters Identity Card/Aadhaar Card/Passport/Driving license as a proof of identity and address proof
  • E-Mail id and Mobile number
  • Premises Address Proof
    • If Rented: Rent Agreement and utility bill likely electricity bill, telephone bill, etc. and No Objection Certificate from owner.
    • If Owned: Ownership proof. Receipt of Municipality tax paid

Note:
(a) At least one of the directors shall be resident in India, i.e. who has stayed in India for a total period of not less than 182 days in the previous financial year.
(b) Directors and shareholders can be same person.
(c) Estimate of the future annual income and expenditure of the company for next three years.

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