Section 8 Company Registration in Hyderabad

• 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.

• Minimum of 2 Shareholders
• Minimum of 2 Directors ( Both Shareholders and DIrectors can be the same people )
• At least one Director should be an Indian Resident
• No requirement of the Minimum Capital
• PAN issued by the Income Tax Department is a mandatory requirement for Indian Nationals
• Passport is a mandatory requirement for identity proof in case of Foreign Nationals
• Any one additional Identity Proof – Voter ID/ Aadhar Card/ Driving License/ Passport is required.
• Anyone Residential Proof i.e. any of the utility bill – Electricity Bill/Bank Statement/Telephone Bill/Mobile Bill
• Proof of the Registered Office Address:
  In the case of a rented property, a rent Agreement along with the latest rent receipt, a copy of the latest utility bill in the name of the landlord, and a no-objection certificate from the premises’ owner is a compulsory requirement.
  In case the premises are owned by the Director or the Promoter then any documents that prove the owners’ establishment such as a Sale Deed/House Tax Receipt and a No Objection Certificate.

The Name of Section 8 Company should comply with the following:

• Short and Simple Name
• A Meaning and Unique Name
• It shouldn’t violate any law
• It shouldn’t use the term “British India”

1. Applying for Digital Signature of Director (DSC)

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.

2. Applying for Direction Identification Number (DIN)

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. Under 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.

3. Name Approval of the Section 8 Company

The name of every company should be new and unique. In other words, no company name should resemble that of an already registered company, LLP, or a registered trademark. After the successful allotment of DSC and the DIN, an application is made to the ROC for the approval of the company name. The Registrar is entitled to the discretionary powers when it comes to the approval of the company name.

4. Issue of the Central Government License

An application is made to the Regional Director of the Ministry of Corporate Affairs accompanied with 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.

5. Drafting of the MoA and AoA of the Company

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.

6. Company Incorporation

Once your application is filed you will receive an ARN number. The Incorporation certificate is received within 15-20 days. It is proof that company has been created. The COI also includes your CIN (Company Identification number).

7. Opening of a Company Bank Account

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.