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The primary objectives include promoting arts, science, commerce, education, social welfare, religion, charity, or any other useful public purpose.
- NGOs in India can be registered under the Registrar of Societies or as a
- A non-profit entity under Section 8 Company of the Companies Act, 2013
- Compliance with the Companies Act is compulsory for Section 8 Company, including Filing returns with the ROCs, maintaining books of accounts, & complying with GST and IT Act Regulations
- Section 8 Company in India cannot utilize profits for purposes other than charitable objectives & cannot distribute them among shareholders of the Company
- Any alterations to the Charter Documents like AoA & MOA require consent from the Government
- Section 8 Companies are identical to the former Section 25 Companies Under the Companies Act 1956 and now, they are recognized as such under the prevailing legislation
What else can I help you with?
What is Section 8 Company Registration?
The Companies Act defines a Section 8 company as one whose objectives is to promote fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, or other similar objectives.
What is a Section 8 Company?
In India, a Section 8 Company functions as an NGO dedicated to advancing various fields such as art, science, education, sports, and charitable activities. Unlike Trusts or Societies, profits generated by Section 8 Companies are reinvested to support their stated objectives rather than being distributed to company members. The registration process for a Section 8 Company falls under the jurisdiction of the Ministry of Corporate Affairs (MCA), distinguishing it from Trusts and Societies, which are governed by State Government Registrars. Opting for Section 8 Company registration through RegisterKaro offers distinct advantages over Trusts and Societies. The Section 8 structure enhances credibility with government departments, stakeholders, and potential donors. At RegisterKaro, our proficient team ensures a seamless registration process for your Section 8 Company. With expertise in documentation, application filing, and efficient incorporation, we alleviate your concerns, making the entire process smooth and effective.
What is the penalty for non-compliance with Section 8 Company regulations?
As per the Companies Act, if the Company fails to comply with the legal provisions, then the Central Government will cancel the License for Section 8 Company. If the Company’s objectives are conducted fraudulently or in violation of the objectives for which it is established, the licence can be cancelled. In case a Company fails to comply with the provisions of the Companies Act, then the Company will be punishable with a fine not less than Rs. 10 lakhs & may extend to Rs. 1 crore. The Officers & Directors of the Company in default of the provisions will be punishable with a fine not less than Rs. 25,000 which may extend to Rs. 25 lakhs or both.
Is there a minimum capital requirement for Section 8 Company registration?
There is no requirement of minimum paid-up capital in the case of a Section 8 company incorporation. NGOs established as a Section 8 company need not use the words ‘Limited’ or ‘Private Limited’ in their name.
What are the requirements for registering a Section 8 Company?
Following are some vital requirements for Section 8 Company Registration: Directors: For Section 8 Company Registration in India, a minimum of 2 Directors are required. Capital Requirement: There is no minimum paid-up capital for the Registration of Section 8 Company. NGOs in India established as a Section 8 company need not use the words Private Limited or Limited in their name. Management Section 8 Company is managed by the BoD (Board of Directors) as per AoA & MoA of the Company, unlike other Trusts that are handled by the Trustees as per the Trust Deed. Regulation under various Acts: Section 8 Company needs to follow the Rules & Regulations prescribed under the Companies Act, 2013. It needs to file returns & maintain Books of Account with ROCs. Section 8 Company can’t make any alterations to the provisions of Memorandum of Association (MoA) & Articles of Association (AoA) without prior consent of the Central Government and it should follow the provisions of the GST Law & Income Tax Act. Charitable Objects: In India, Section 8 Companies are registered with non-profit objectives. The AoA & MoA must mention the purpose for which it is set up. Any profits earned by the Section 8 Company is utilised for the furtherance of its main objectives i.e., charitable purposes in the Company. The profits will not be distributed among its members. DSC and DIN: DSC or Digital Signatures of all the proposed Company’s Directors are necessary for the Registration because the forms for the Registration process are filed online & should be digitally signed. Apart from DSC, you need to apply for DIN for the Directors and the application for allotment of DIN must be filed in Form DIR-3 or along with the SPICe+ Form for the Registration.
What are the requirements for Section 8 Company Registration?
Following are some vital requirements for Section 8 Company Registration: Directors: For Section 8 Company Registration in India, a minimum of 2 Directors is required. Capital Requirement: There is no minimum paid-up capital for the Registration of Section 8 Company. NGOs in India established as a Section 8 company need not use the words Private Limited or Limited in their name. Management Section 8 Company is managed by the BoD (Board of Directors) as per AoA & MoA of the Company, unlike other Trusts that are handled by the Trustees as per the Trust Deed. Regulation under various Acts: Section 8 Company needs to follow the Rules & Regulations prescribed under the Companies Act, 2013. It needs to file returns & maintain Books of Account with ROCs. Section 8 Company can’t make any alterations to the provisions of Memorandum of Association (MoA) & Articles of Association (AoA) without prior consent of the Central Government and it should follow the provisions of the GST Law & Income Tax Act. Charitable Objects: In India, Section 8 Companies are registered with non-profit objectives. The AoA & MoA must mention the purpose for which it is set up. Any profits earned by the Section 8 Company is utilised for the furtherance of its main objectives i.e., charitable purposes in the Company. The profits will not be distributed among its members. DSC and DIN: DSC or Digital Signatures of all the proposed Company’s Directors are necessary for the Registration because the forms for the Registration process are filed online & should be digitally signed. Apart from DSC, you need to apply for DIN for the Directors and the application for allotment of DIN must be filed in Form DIR-3 or along with the SPICe+ Form for the Registration.
What are the benefits of Section 8 Company?
Section 8 housing is there to help you financially when you have low income to no income., They help pay for your rent and get you into a home if you don't have 1, you only pay a portion of your rent and they go by your income to state what you pay.
What documents are required for the online registration of a Section 8 Company?
The documents required for the online registration of a Section 8 Company include: Digital Signature Certificate (DSC): For at least one director. Director Identification Number (DIN): For all directors. Name Approval: From the Ministry of Corporate Affairs (MCA). Memorandum of Association (MOA) and Articles of Association (AOA): Drafted according to the company's objectives. Proof of Address: For the registered office. Identity and Address Proof: For all directors and members. Income Proof: If applicable, for the members.
What are the key benefits of registering a Section 8 Company online?
Registering a Section 8 Company online offers several benefits, including: Tax Exemptions:These companies can avail various tax benefits and exemptions under Indian law. No Minimum Capital Requirement: Unlike other types of companies, there is no minimum capital requirement for Section 8 Companies. Name Flexibility: They are not required to add the suffix "Limited" or "Private Limited" to their names. Legal Recognition: Online registration provides a streamlined, legally recognized process for establishing the company and obtaining necessary approvals and certifications.
How do you go from Section 8 apartments to getting a Section 8 Voucher?
when your living in your section 8 apartment, you can ask to be on wait list for section 8 voucher.
Is there section 8 in Delaware?
do delaware has section 8
How do you port your section 8 voucher?
section 8 housing
