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Section 8 Company Registration including Government Fee and Incorporation kit with share certificates.

Market Price: ₹18,899

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Frequently Asked Questions

What is the minimum number of directors required for a Section 8 Company in India?
A Section 8 Company, as per the Companies Act, 2013 in India, is a type of company formed for promoting charitable or not-for-profit objectives. The minimum number of directors required for a Section 8 Company is two. A Section 8 Company must have at least two directors on its board. However, it is important to note that if the Section 8 Company is incorporated as an OPC (One Person Company), then it can have only one director. For a non-OPC Section 8 Company, a minimum of two directors is mandatory.
Is it necessary to have a non-profit motive to form a Section 8 Company?
Yes, it is essential to have a non-profit motive to form a Section 8 Company. According to the Companies Act, 2013 in India, a Section 8 Company is specifically intended for promoting charitable or not-for-profit objectives. These objectives may include the promotion of arts, science, education, religion, social welfare, or any other useful purpose that benefits society. The primary purpose of a Section 8 Company is to apply its profits or other income towards the promotion of its objectives, rather than distributing profits to its members.
Who is eligible to be a director of a Section 8 Company?

The eligibility criteria for individuals to become directors of a Section 8 Company in India are as follows:

Age Requirement: The person must be at least 18 years old to become a director of a Section 8 Company.

Director Identification Number (DIN): The individual must have a valid DIN issued by the Ministry of Corporate Affairs. DIN can be obtained by filing the necessary application and fulfilling the required documentation.

Disqualification: The person should not be disqualified under the Companies Act, 2013 from being appointed as a director. Certain disqualifications include being declared insolvent, convicted of an offense involving moral turpitude, or being disqualified by a court or regulatory authority.

Consent and Declaration: The individual must provide their consent to act as a director and declare that they are not disqualified from being a director under the Companies Act, 2013.

It is important to note that the directors of a Section 8 Company are responsible for managing its affairs, making strategic decisions, ensuring compliance with applicable laws and regulations, and fulfilling the objectives of the company. The number of directors required for a Section 8 Company is a minimum of two, although there can be more directors as per the company’s requirements and governance structure.

By whom is the license of a Section 8 Company authorized?
The license for a Section 8 Company is authorized by the Registrar of Companies (RoC) under the authority of the Central Government. The RoC is responsible for overseeing company registrations and compliance with the Companies Act, 2013. They review the application, documentation, and compliance requirements to determine the eligibility and suitability of the company for obtaining the Section 8 status. Once satisfied, the RoC issues the license to the Section 8 Company, allowing it to operate as a not-for-profit entity.
Can Trusts or Co-operative Societies become members or subscribers of a Section 8 Company?
Yes, Trusts and Co-operative Societies are eligible to become members or subscribers of a Section 8 Company in India. The Companies Act, 2013 does not restrict Trusts or Co-operative Societies from being members or subscribers of a Section 8 Company. These entities can contribute to the formation and functioning of a Section 8 Company by becoming members or subscribers as per the provisions of the Act. However, it is important to note that the specific eligibility requirements and procedures may vary depending on the provisions of the Act and the rules and regulations set forth by the Registrar of Companies (RoC) in the respective jurisdiction. Therefore, it is advisable to consult with legal professionals or regulatory authorities to ensure compliance with the applicable laws and regulations.
Can the office address of a company be changed after incorporation?
Yes, the office address of a company can be changed after incorporation. Companies often need to change their office address due to various reasons such as relocation, expansion, or business requirements.

In general, the steps to change the office address involve notifying the appropriate authorities, such as the Registrar of Companies or similar regulatory bodies, and updating the company’s official records.

Advantages of Section 8 Company
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Tax Exemption

Section 8 companies registered under Section 12AA of the Income Tax Act in India are indeed eligible for a 100% tax exemption. This exemption is granted because Section 8 companies utilize their profits solely for charitable purposes. As per the Income Tax Act, the profits generated by these entities are considered to be applied for charitable or philanthropic objectives, and therefore, they are not subject to taxation.

This tax exemption is a substantial benefit for Section 8 companies, as it allows them to utilize their resources entirely for their charitable activities without the burden of paying taxes on their profits. However, it is important to note that there are certain compliance requirements and conditions that must be met to maintain this tax-exempt status. It is advisable for Section 8 companies to fulfill their statutory obligations and adhere to the guidelines provided by the Income Tax Act and relevant tax authorities to continue enjoying this tax exemption.

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Separate Legal Entity

Yes, a Section 8 Company in India is considered a separate legal entity. This means that the company has its own distinct identity and is separate from its members or shareholders. It can enter into contracts, own property, sue or be sued in its own name, and undertake legal obligations.

As a separate legal entity, the Section 8 Company is responsible for its own debts, liabilities, and legal obligations. The personal assets of the members or shareholders are generally protected, and their liability is limited to the extent of their contribution to the company.

This separate legal entity status provides advantages such as limited liability, perpetual succession, and the ability to own assets in the company’s name. It allows the Section 8 Company to operate independently, enter into agreements, and carry out activities in pursuit of its charitable or not-for-profit objectives without directly involving the personal assets or liabilities of its members or shareholders.

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No Minimum Capital Requirement

That’s correct. There is no minimum capital requirement for a Section 8 Company in India. The focus of a Section 8 Company is on achieving charitable or not-for-profit objectives rather than capital investment.

Instead of capital, the emphasis is on utilizing the funds and resources for the promotion of charitable activities, social welfare, scientific research, education, religion, or other similar purposes. The company’s funds come from donations, grants, subscriptions, or other forms of financial support, which are then utilized for fulfilling the company’s objectives.

While there is no minimum capital requirement, Section 8 Companies must still adhere to the necessary compliances and regulations as mandated by the Companies Act, 2013 and other applicable laws. These may include filing annual financial statements, maintaining proper accounting records, and complying with the regulations specified for not-for-profit entities.

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Increased Credibility Section 8 Company

A Section 8 Company in India enjoys increased credibility due to its specific legal structure and objectives. Here are a few factors that contribute to its enhanced credibility:

Charitable or Not-for-Profit Status: Section 8 Companies are formed with the primary objective of promoting charitable or not-for-profit activities. This focus on social welfare, education, healthcare, or other philanthropic causes enhances their credibility in the eyes of the public, donors, and other stakeholders.

Greater Trust and Transparency: Section 8 Companies are subject to stringent compliance and reporting requirements, ensuring transparency in their operations. This transparency builds trust among stakeholders, including donors, volunteers, beneficiaries, and the general public.

Tax Benefits: Section 8 Companies are eligible for tax exemptions under the Income Tax Act, as discussed earlier. This tax benefit enhances their credibility as it signifies their commitment to utilizing resources solely for charitable purposes.

 

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