Register your Section 8 Company with speed, ease and Value Savings
Section 8 Company is named after Section 8 of the Companies Act, 2013. The section applies to the incorporation of an association ‘for promoting commerce, religion, art & culture, education, charity, research, science, sports, social welfare, environmental protection or any other charitable objective, provided that any possible earned profits will only be applied for promoting the objectives of the association and no dividend is to pay to its members.
A Section – 8 Company is similar to a Trust or a Society. Section 8 of the Companies Act is very similar to that of Section 25 of the Old Companies Act. It is registered under the Central Government’s Ministry of Corporate Affairs through Section 8 of the Companies Act, 2013 for not-for-profit purposes.
The government provides a license to all the Section 8 Companies along with informing them about the restrictions and conditions. If the association fails to fulfill the prescribed conditions then the Central Government might order then to shut it. In cases of fraudulent objectives, legal actions are taken against all the officers and members of the company.
You are required to fill in the details in our simple questionnaire and submit documents..
We will provide you with DSC and DIN. To proceed further, you need to give your approval.
For further procedures, details provided by you will be verified by our experts.
We will create all the required documents and file them with ROC on your behalf.
Once your company is incorporated, we shall send you all the documents and DSCs.
DSC is an equivalent of the physical or paper certificates in their digital format. The process of incorporation begins with applying for the DSC because the application for the Section 8 Company is filed online with the DSC of the director only. To issue a DSC, a signed application form with a photo, ID, and Address proof of the director is submitted.
Director Identification Number is a permanent and unique identification number issued to the Director of a company or a designated partner of the LLP. by the Registrar of Companies. By the New Companies Act, 2013 – no person can hold an office of the director without having a DIN. An application to the ROC is made with a photo, attested ID, and address proof duly signed by a practicing professional, a CA/CS/CMA for the allotment of DIN.
An application is made to the Regional Director of the Ministry of Corporate Affairs accompanied by the statement of the proposed objective of the to be incorporated company and a complete projection of the profits and losses of the succeeding three years i.e., the statement of assets and the liabilities. The Regional Directors are vested with unrestricted powers to approve the license application.
The Memorandum of Association (MoA) of the Section 8 Company includes all the information about the company such as the Name of the Company, state of company incorporation, details of the authorized capital, and declaration of the company about being it a limited company. The Article of Association (AoA) accommodates all the internal rules of the organization. The promoters must adopt and sign the MoA and AoA before it could be filed with the ROC.
Once your application is filed you will receive an ARN number. The Incorporation certificate is received within 15-20 days. It is proof that the company has been created. The COI also includes your CIN (Company Identification number).
A company must have a bank account to operate its business. Our expert executives are here to help you in getting the company PAN, TAN, and TDS payment compliance to help you open the company bank account.
Chennai is known as the ‘Detroit of India’ because there are many automobile industry situated here. 30% of automobile industry and 40% of its auto components industry situates here. Many companies have their manufacturing plants. Companies are Hyundai, Renault, Nissan Motors, etc.
Many companies have their manufacturing plants. Companies are Hyundai, Renault, Nissan Motors, Ford, BMW, and Mitsubishi, etc. An additional benefit is the presence of financial institutions like the World Bank, The Royal Bank of Scotland, Abu Dhabi Commercial Bank, and Sumitomo Mitsui Banking Corporation. So, Chennai is known for industries related to Automobile
Software Technology Parks of India (STPI) provide support with Company Registration in Chennai for emerging entrepreneurs. In the last few years, Chennai has become one of the preferred destinations for IT companies such as Infosys, TCS, Wipro and Cognizant, and MNCs. Chennai has the perfect combination of professionals and talent base for the business to flourish.
Venture capitalists in India are an essential part of the startup ecosystem. Once a startup has reached its growth stage, it’s the most important requirement is undoubtedly the backing by reliable investors and an ample amount of funding to scale up. Accel Partners, Blume Venture Advisor funds, Sequoia Capital India, etc are the active VC Financing in Chennai.
Ease of doing business
For a State that boasted of record investments received during the Global Investors Meet last year, the recent Ease of Doing Business report from the World Bank must come as a jolt. Among 17 cities ranked by the report, Chennai ranks a dismal 15. Only Kochi and Kolkata are further behind. Ludhiana tops the list among 17 cities.
Numerous Tax exemptions are given to the Section 8 Companies. The donors who are donating to a Section 8 Companies are eligible to claim the Tax Exemption against the donation they’ve made to the association.
The incorporation procedure of a Section 8 Company does not state any minimum capital requirement unlike other such entities such as public limited and alike. The capital structure can be altered at any stage as per the growth requirements of the company.
A Section 8 Company is exempted from the stamp duty payment that is otherwise applicable for registration of other structures such as private limited or a public limited company.
A Section 8 Company has its separate legal identity analogous to other company structures and has it’s own legal standing apart from its members. It has perpetual existence.
Compared to any other Non Profit organization structure such as Trust or a Society, a Section 8 Company has more credibility owning to the license given by the central government. Alongside a Section 8 Company has to follow more stringent regulations such as no change can be undertaken in the MOA and AOA at any stage or situation. There is a more reliable image of a Section 8 Company due to such strict compliances in comparison to other legal structures.
Unlike the name requirement in other company structure, the Section 8 Company does not require a use of a suffix next to its legal name.
The Name of Section 8 Company should comply with the following: