Section 8 Company Registration
At only Rs 12,999 in just 10-12 days.
Documents Required from Directors, Shareholders
Documents Required for Registered Office Address
What is Section 8 Company?
A company registered with charitable objects such as the promotion of Arts, commerce, science, education, sports, protection of the environment, religion, charity, etc. The Act does not ban the corporation from making a profit by advertising it as a not-for-profit organisation; rather, it restricts profit distribution among members.
Advantages of a Section 8 Company?
- Tax benefits: Since Section 8 companies are a non-profit organization, so they leverage the exemption from the provision of income tax. The companies also get various other tax benefits and deductions. They employ many perks under section 80G of the Income Tax Act.
- Zero Stamp Duty: A Section 8 company do not have to pay stamp duty on the AoA and MoA of the private or public limited company which other companies surely pays.
- The ease at transferring ownership/title: The limited liability companies don’t have the advantages to transfer their title or ownership, but the Income Tax Act, 1961 does not confide Section 8 companies to transfer their ownership or title thereby, enabling the transfer of both movable and immovable interest without any hurdles or restrictions.
- Minimal share capital: Unlike the other limited companies like public, private, or one person, a Section 8 company do not need much share capital to set up the entity. The members can directly use the funds from their subscriptions or donations.
- Exempted from any name: In opposes to other companies who are under obligation to use their company’s name as ‘limited company’, section 8 companies get exempted from the use of any title. Thus, they can perform their functions without updating the public about their limited liability status.
- Separate legal entity: Section 8 company has a distinct legal entity which means the company’s existence is different from its members. The company has a perpetual existence along with greater flexibility.
We guide you every step of the way
Compay Incorporation Process
How long does it take?
How does it works?
- Our expert will understand your requirements
- They will provide basic details and documents list required for registration
Make the Payment
- You make the initial fee payment through secure payment gateway towards stamp duty and out of pocket expenses.
Application for company registration
- Application for company name registration under SPICe+
- Procurement of Digital Signature Certificate (DSC)
- Documents drafting including MOA and AOA
- Application for Company registration
- Application PAN and TAN
What do you get
1) The company’s main aim must be to operate for a charity cause that is listed in the law.
2) At least two members of the company must subscribe to capital at the time of incorporation.
3) The firm must have at least two directors, one of whom must be an Indian citizen and resident.
4) The company’s registered office must be located in India.
The Section 8 company is popularly known as NGO. However, NGOs can be registered as other business structure like trust, society, etc.
STEP 1: APPLICATION FOR YOUR DESIRED NAME
The first step in forming a corporation is to reserve the proposed company’s name in part-A of the SPICe Plus (SPICe+) form. Choose your business activity and enter two possible names in this form.
STEP 2: SUBMIT AN APPLICATION FOR A DIGITAL SIGNATURE CERTIFICATE (DSC)
In India, the procedure of forming a company is completed entirely online. As a result, we’ll need to apply for a DSC (Digital Signature Certificate), which will be utilised to sign the documents electronically by the proposed directors and members, respectively. Every single member/shareholder and director of the company must have a DSC.
STEP 3: FILL THE APPLICATION FOR INCORPORATION (SPICe plus Form – SPICe+)
Once, your name gets reserved under it will be valid for 20 days from the date of approval, within 20 days you have to fill-up the respective application form for incorporation along with all the requisite attachments and documents and upload it online. SPICe+ is an advanced form combination of 8 forms in one. Through this proposed company can apply for at once:
- Name reservation
- Apply for DIN
- TAN application
- PAN application
- EPFO registration
- ESIC registration
- GSTIN registration
The next step is to complete part-B of the SPICe +, which will include all of the information needed to incorporate a company, such as the total number of directors and members, authorised share capital, paid-up capital, number of shares held by members, company registered address information, directors and member information, and any proof attachments. Then draught the prospective company’s MOA (memorandum of association) and AOA (article of association), then complete the EPFO and ESIC registration forms in detail. To obtain a GSTIN, complete the AGILE form. After you’ve completed all of these steps, append your signature and send it to the MCA website.
STEP 4: BUSINESS COMMENCEMENT CERTIFICATE AND LICENSE UNDER SECTION 8
Once the company’s application for incorporation is granted and the ROC issues the Certificate of Incorporation and Section 8 licence, the company must file for approval to start doing business within 180 days of the date of incorporation.