Easily Register a Section 8 company.

Complete solution for incorporation of a not for profit Section 8 company and obtaining Section 8 company license.

About Section 8 company

A section 8 company is the same as the popular section 25 of old companies act 1956, which was one of the most popular forms of non profit organisation in India. But, as per the new companies act 2013, section 25 has now become section 8 company.

A Section 8 company is a company which is registered as a non profit organisation. Non- profit organisation/company refers to a Company which has its object of the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment, intends to apply its profits, if any, or other income in promoting its objects.

Process to register Section 8 company

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Features of Section 8 company

There are two type of sector for section 8 company first is NGO and second is Micro finance.

In section 8 company the persons to be registered as limited company without the addition of the word “Limited” and “Private Limited”.

The company shall enjoy all the privileges and be subject to all obligations of Limited Companies.

The company can only use its profits and income in promoting of its objects.

BENEFIT of a Section 8 company

Separate legal entity

Accordance to the Companies Act the companies is legal entity. The members of a company have no liability to the creditors of a company for companies’ debts. The death, bankruptcy or withdrawal of capital by one member does not affect the company's ability to trade.

Perpetual Succession

Another important characteristic of the company is perpetual succession. It is a popular saying that the directors may come and out, the members may come and out, but the existence of a company remains forever. A company once incorporated remains alive unless and until it is wound up by complying with the provisions of Law.

Exemptions and Privileges

Under Company Law, Section 8 Company enjoys certain exemptions from the compliance point of view which are applicable on Private Limited and Public Limited on mandatory mode. Tax Deduction to the donors u/s 80G is allowed under Income Tax for making donation to NGO registered under Section 8.

Easy to Transfer of company

The company can easily transfer the entire and part of share holding to the any person as an ongoing concern. These facilitate easy for change in management and ownership and those changes of ownership and management saves the time and money and also huge amount of stamp duty.

DO’S & DON’TS:

DO’S DON’TS
1 At The End Of Financial Year Annual Filling Must Be File To The Registrar Of Companies. 1 Prohibit The Payment Of Any Dividend To Its Members.
2 To Hold The Annual General Meeting Once In A Financial Year.  
3To Hold The Four Board Meeting In Financial Year.  

FREQUENTLY ASKED QUESTIONS (FAQS)

If your are registering your Section 8 Company as Private Limited, then it is 2 members, but if your registering it as Public Limited, then you should have 7 members.
Yes, only object with non-profit motive can able to register themselves for Section -8 company.
No, INC-29 is not applicable for Section-8 Company. Since, there is need for getting license from the Regional Director for Section 8 Companies, INC-29 facilities are not available for this particular company.
Yes, you can convert your Section-8 Company into Private Limited Company in future and options are available.
1. Any person or association of persons (including a partnership firm)
2. Any existing company
Note: - One Person Company cannot be a Section 8 Company.

The name shall include the words:-

  • Foundation
  • Forum
  • Association
  • Federation
  • Chambers
  • Confederation
  • Council
  • Electoral Trust and the like etc.

Note:-The name does not include the words “Private Limited” or “Limited”.

Yes, you can do finance work in the Section 8 Company by registering it as Micro Finance Company. Micro Finance Company can lend small amount of loan to the group of needy peoples or poor people’s for their social benefit.
No RBI approval is not required for Section 8 Micro Finance Company, all approvals is in the hand of Registrar of Companies.

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