Section 8 Company Registration
The section 8 company is that company which gets license under the section eight of the Companies Act, 2013. Under the Companies Act, 1986, previously it is called as Section 25 Company. Its main objective is to promote environment protection, charity, religion, social welfare, research, education, sports, science, arts and commerce. The Section 8 company does not pay dividends to its shareholders. Its income or profits is used for promoting the company objectives.
The Section 8 Company is not registered for the purpose of profit, but it is registered for the purpose of charity. This type of company is same as a society or trust. The only exception to this fact is that the “ministry of corporate affairs” will register a Section 8 Company. The societies and trusts are registered under the regulations of the state government.
Section 8 Company offers various advantages as against the societies and trusts. The most important feature of this type of company is that the company name can be incorporated without using the word “Private Limited” or “Limited”.
A non-profit organization in India can be created by registering a Trust or registering a Society under the Societies Registration Act or incorporating the section 8 company with an objective of not profit.
Documents Needed for Section 8 Company Registration
What Is Included In Our Package?
Step by Step Procedure for Section 8 Company Registration
DIN/DSC: The first step is to get the Director Identification Number (DIN) and a Digital Signature Certificate (DSC) of all the company directors.
2Approval of Name: The form no. – INC 1 is to be filed with central registration center of ministry of corporate affairs along with an application for the approval of name of the section 8 company. After approved from the authority, the name is valid for a duration of two months.
The name of the section 8 company will include any of the given word like Electoral Trust, Council, Confederation, Chambers, Federation, Association, Forum, and Foundation as per the rule 8 (7) of the Companies (Incorporation) Rules, 2014.
3Memorandum of Association and Articles of Association: After the approval of name, memorandum of association and article of association will be drafted and filed with the RoC including the other documents in the E-Form INC 12 for the license issue under the section 8 of the companies act, 2013. The memorandum of association and articles of association subscription pages will be signed by every subscriber by mentioning their occupation, description, address and name in the presence of minimum one witness who can attested the signature and mentions his occupation, description, address and name etc.
Form INC – 12: The applicant needs to file form INC-12 for license issue under the section eight of the companies act, 2013 including the following documents.
After the form INC 12 approval, a license is issued in form INC – 16 under section eight of the companies act, 2013.
Filing of forms of Incorporation on the website of Ministry of corporate affairs: After the issue of license, the following forms are needed to be filed with the RoC.
Application for incorporation of the company (Form. No INC – 7) including the following documents.
Notice of location of registered office (form number INC – 22) including the following documents:
Appointment of company directors (Form number DIR – 12) including the following documents:
Incorporation certificate: if the RoC is satisfied with the form of incorporation, an incorporation certificate is issued by the registrar of companies along with a distinct Company Identification Number (CIN).
Important Features of Section 8 Company:
Benefits of Section 8 Company Registration
Frequently Asked Questions
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