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.
Mumbai is also known for financial and commercial capital of India. It is one of the crowded and expensive city. Big Companies like L&T and TATA Group, and financial organisations such as RBI and SBI are in this city which attract entrepreneurs to start their business.
Big Companies like L&T and TATA Group and financial organizations such as RBI and SBI are in this city which attracts entrepreneurs to start their business. It makes this city reliable for entrepreneurs who are looking for big investors. Many famous startups such as BookMyShow and JustDial are originated from Mumbai.
There is a large number of investors. As per the growth of business in Mumbai. There is a huge population and so much financial activity means more business opportunities. All you need to have a list of business ideas that can work well in cities like Mumbai and sort out the best option for you.
Basil Partners, Blume Ventures, Clearstone Venture Partners, etc are the active VC financers in Mumbai. The most important thing is money that is required for every idea, be it something very disruptive or a simple one. It is needed in the early stages as well as in the growth stage.
Ease of doing business
The big jump in India’s ease of doing business ranking has a lot to do with the reforms undertaken by the Maharashtra government. Since ease of doing business in India is assessed based onpaya collected from Mumbai and Delhi, the performance of the two cities is key to improve the rank.
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: