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Section 8 Company Registration in Kolkata

Register your Section 8 Company with speed, ease and Value Savings

  • We will draft and file your application to MCA
  • You just need to fill a simple 10-minute Questionnaire
  • Simplifying your business journey

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What is a Section 8 Company?

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.

cor process
Procedure
Package
Steps
Benefits
Advantage
Document
Requirement
FAQ

Procedure For Section 8 Company Registration

Fill Up Application Form

Complete our Simple
Form

Complete our Simple
Form

You are required to fill in the details in our simple questionnaire and submit documents..

Obtain DSC
DIN for us

Obtain DSC
DPIN for us

We will provide you with DSC and DIN. To proceed further, you need to give your approval.

Executive will Process Application

Verifcation &
Name Approval

Verifcation &
Name Approval

For further procedures, details provided by you will be verified by our experts.

Document
Submission

Document
Submission

We will create all the required documents and file them with ROC on your behalf.

Get Confirmation on Mail

Get Confirmation By
our Team

Get Confirmation By
our Team

Once your company is incorporated, we shall send you all the documents and DSCs.

Package Included

DIN for 2 Partners
Digital Signature For 2 Directors
Name search & approval
Registration Fees & Company Pan Card
MOA/AOA

Steps for Section 8 Company Registration in Delhi

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.


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. 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.

Issue of the Central Government License

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.


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.


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 the company has been created. The COI also includes your CIN (Company Identification number).


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.


Benefits of a “Section 8 Company” Registration

Kolkata is known for the prime commercial and financial hub of India. Top companies such as National InsuranceCompany, ITC ltd, Exide Industries, and Britanniaetc have headquarter in this city. It is home of many industrial units of both public and private corporations.

    Opportunities

    Kolkata has various opportunities especially for the startups in India is home to India’s oldest, and also India’s second-largest stock exchange company (bourse) – The Calcutta Stock Exchange. Kolkata is home to a major port, an international airport, and many nationally and internationally reputed colleges and institutions aimed at supplying a highly skilled workforce. Kolkata is also home to India’s and South Asia’s first metro railway service – Kolkata Metro.

    Growth

    Some notable companies headquartered in Kolkata include ITC Limited, Britannia Industries, Exide Industries, Eveready Industries, CESC Limited, Rupa Industries, Lux Innerwears, Berger Paints, Birla Corporation, Peerless Group, and Emami.

    VC Financing

    Kolkata is not very active in terms of Venture Capital Funds. This is a small list that I know of:

    1. SREI Venture Capital
    2. Navam Capital
    3. WB VCF
    4. SMIFS

    Ease of doing business

    According to a World Bank Ease of Doing Business report in 2009, Kolkata ranked 17 out of 17 cities surveyed in India, while New Delhi was at 10th, and Bengaluru at 16th. In procedure to start a business, Kolkata ranked 10th. It is to be noted that Kolkata has a process to obtaining trade license in the city which is unique in India. This ranking however has become better as per recent estimates.Kolkata Municipal Corporation (KMC) is the central authority which deals with the processing of new trade licenses and the renewal of the same as well.

Advantages

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.

Documents Required

For Directors/Shareholders
  • PAN Card of owner
  • Passport size photograph of Directors
  • Copy of Aadhaar Card/ Voter identity card of directors
  • Copy of Rent agreement(If rented property)
  • Electricity/ Water bill (Business Place)
For Registered Office
  • Ownership Proof (House Tax etc.) or Rent Agreement
  • Utility Bill (Gas Bill, Electricity Bill)
  • NOC(from owners – if the premises is rented)

Minimum Requirements for Section 8 Company Registration

  • 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.

Factors to be Considered in Section 8 Company Name Selection

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”

FAQ

Company formed for the promotion of a social cause be it for “charity, education, industry, sport, etc.” is called a section 8 company. • Income and profits earned by this company should be used for purpose or object to promote the cause for which the company was set up. • No dividend shall be paid to it’s members.

A Section 8 Company is at first to be registered in the same way as a limited company. After the registration procedure, it needs to obtain a license from the Central Government to be registered under this Section. This license is provided on the basis of the Company’s objectives which have been mentioned in “MoA and AoA” and some other criteria. “LegalRaasta” provides services and assistance to help you conveniently get your business registered as a Section 8 Company.

Our fees to register a Section 8 Company start from only Rs.12,999/- Being the lowest fees charged, for the long list of services and consultancy provided. The applicable fee, vary from company to company, depending on the structure and other factors.

The main goal of “LegalRaasta” is to give you a hassle-free experience. Therefore, the process to get your Section 8 Company registeration, has been simplified too. 1. Just get registered with us in the form provided above. By answering a few simple questions. 2. We'll apply for DIN & DSC for the Directors. The application will need their passport-sized photographs, attested ID & Address proof. 3. Based on your requirements and preferences, we'll suggest unique names (not matching any existing ones) for your Company. Once you give us a go-ahead, we'll apply for the name approval. 4. We'll apply for the license under Section 8 from Central Government. Along with that, we will obtain the COI (Certificate of Incorporation). 5. On receipt of the License, we'll apply for and send you the PAN & TAN on receipt.

The below documents are needed for the registration of the Section 8 Company: • DSC & DIN of the Directors. • Director's ID proof and Address proof. • Objectives and projected work of the Company. • Financial statements like assets and liabilities, the proposal for 3-years, etc. • Registered office address documents.

Yes, A Section 8 Company can be converted into a private limited company after taking approval from ROC.

The annual compliances that need to be met by a Section 8 Company are the same as other normal companies which are registered under the Companies Act. 1. Conducting 2 Board Meetings, at least, in a year. 2. Mandatory audit of the Books of Accounts. 3. Annual returns, along with other e-filing forms such as MGT-7, AOC-4, etc. 4. Income tax returns. 5. Additional compliances to fulfill the registration under section 12AA, 80G, of the Income Tax Act, applicable to donations, etc.

No. A promoter of NPOs cannot be employed as a paid employee of the Company.

Foreign donations are allowed only when FCRA (Foreign Contribution Regulation Act 1976) registration has been done. FCRA license can only be applied after 3-years from the date of registration. However, if some really urgent foreign donations are necessary, then you may apply for prior permission from the commissioner.

Yes, a Section 8 Company can invest in another company. This can be done to meet the objectives of it’s formation.

Yes, a section 8 company can form a subsidiary company which plans to make profits.

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