SECTION 8 COMPANY

Section 8 company is a Corporate Entity registered under the Companies Act, 2013. It is similar to the Trust and Societies as established under the relevant act. Such companies are formed for promotion of various social initiative and are not intended to make any profit on their activities. Further, the surplus if any from the operations are intended to be utilized for social and charitable purpose of such entity as incorporated in their Memorandum and Articles of Association of the company.

 

Documents Required

  1. Directors Identification Number
  2. Digital Signature Certificate of the Proposed Director(s)
  3. Application for Name Approval
  4. Incorporation Documents along with Proof for Proposed Place of Business
  5. MOA / AOA of the company
  6. PAN Card of Section 8 Company
  7. Statutory Registration e.g. MSME/GST/TAN etc.
  8. Open a Current Account in the name of the company

Advantages

  1. No Income Tax as Profits are exempt in view of charitable objective of the company

 

Disadvantages

  1. The Entity can only be formed for charitable or social purpose and cannot engage themselves in any commercial activity.

 

Best Fit For:-

  1. Public Welfare or social work like Commencement of Ventures like School, Colleges, Hospitals etc.

 

 

 

LEGALLANDS LLP consistently endeavours to get together the necessities and prerequisites of its customers and demonstrate to be a beneficiary aid as and at whatever point required. To bring more subtleties on same, contact our client assistance official today at connect@legallands.com

 

Disclaimer

 

As per the rules of the Bar Council of India, we are not permitted to solicit work and advertise. By clicking “I agree” below, you acknowledge the following:

 

  • There has been no advertisement, personal communication, solicitation, invitation or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;

  • The user wishes to gain more information about us for his/her own information and use;

  • The information about us is provided to the user only on his/her specific request and any information obtained or materials downloaded from this website is completely at the user’s volition and any transmission, receipt or use of this site would not create any lawyer-client relationship.

The information provided under this website is solely available at your request for informational purposes only, should not be interpreted as soliciting or advertisement. We are not liable for any consequence of any action taken by the user relying on material/information provided under this website. In cases where the user has any legal issues, he/she in all cases must seek independent legal advice.