Section 8 Company
Section 8 Company
Section 8 Company is a Company that is licensed under Section 8 of the Companies Act, 2013 (the Act), which had the main objective for promoting research, social welfare, religion, charity, commerce, art, science, sports, education, and the protection of the environment or any such other object, provided that the profits, if any, or the other income is applied for promoting only the objects of the company and Also, No dividend is paid to its members. Therefore, Section 8 Company is a company which is registered for charitable or not-for-profit purposes.
Section 8 Company Features
1. No Profit Motive
The companies registered under section 8 of the companies act, cannot distribute profits or assets to its members.
2. Voting Rights
The voting rights to the members of section 8 company are based on the number of shares, similar to that of any other company.
3. No Minimum Capital
There is no minimum level of capital prescribed, hence a section 8 company can be incorporated with the capital as required by it.
4. One Resident Director
One director of the company must be resident in India. A person is said to be a resident when he stays in India for at least 182 days in the FY.
Process of Indian SubsidiaryProcess of Registration
1. Creation of DIR – Obtain the DSC for the proposed Directors of the Section 8 Company. After obtaining the DSC, file form DIR 3 with the ROC for getting a Director Identification Numbers. Once approved, the ROC will allot the Director Identification Number to the proposed Director.
2. Submission of forms – Form INC 1 with ROC for company name registraion; Form INC 12 to apply for a license for the Section 8 Company; SPICe Form 32 with the ROC for incorporation along with the affidavits, declarations, KYC, consent letter, draft MOA, and AOA after he obtains the license
Document Required
- Director Identification Number (DIN)
- Digital Signature Certificate
- Memorandum of Association
- Articles of Association
- Passport size Photographs
- Members Id Proof such as Aadhar Card, Passport, Voter ID.
- Details of Director
- Address Proof
Frequently Asked Questions
The name of a section 8 company shall not include Private Limited or Limited at the end of its name and must end with any of the below words: Foundation,Forum,Association,Federation,Chambers,
Confederation,Council,Electoral Trust and the like etc.
Yes, Foreign Direct Investment is allowed Section 8 Companies subject to the compliance of FEMA Regulations. However, in terms of the Foreign Contribution (Regulation) Act, 2010 [FCRA] read with the Frequently asked questions (FAQ) on the website of the ministry of the home of the union government of India, the infusion of capital in a section 8 company is a foreign contribution. In simple words, though FDI in section 8 companies is permissible, as the same is considered as a Foreign Contribution in terms of FCRA, it can be infused only with prior permission/registration from the central government.
Yes, there is no specific restriction on making an investment in any other company by section 8 companies even if the investee company is a profit-making entity.
In case the section 8 company is incorporated as private limited the minimum requirements of directors on the board is 2 and in case of a public limited company it must be 3.
For incorporation of a section 8 company under the companies act, 2013, any document from below list of the document is acceptable as Identity Proof of the director or shareholder or the proposed company.
- Passport
- Driving License
- Voter ID Card
For Company Incorporation, any one document from below list of address proof of the director or shareholder is acceptable. The document in support of address proof should not be older than two months.
- Bank Statement or Passbook with the transaction entry,
- Electricity Bill in the name of the promoter,
- Telephone bill, or any other Mobile Bill,
- Utility bill in the name of promoters like Gas Bill
A Section 8 Company is incorporated with a physical address to be declared as the registered office of the newly registered company. Following are the list of the document which is acceptable as proof of premises where the registered office of the company is situated. The premises proof should not be older than two months.
- Electricity Bill
- Gas Bill
- Telephone Bill
- Mobile Bill
- NOC from the owner
Before a company occupies any premises as its registered address, a no objection certificate must be obtained from the owner of the premises. Similarly, at the time of filing for company registration, we need a NOC from the current owner of the premises along with proof of ownership as explained above.
A registered office is required to be declared at the time of company incorporation and to be maintained by the company under section 12 of The Companies Act, 2013, which must be capable of receiving and acknowledging all communications and notices as may be addressed to it. Further, the statutory records of the company also need to be maintained at the registered address of the company. Hence having registered address at co-working space is not acceptable unless this is a lockable area.
Get the Best Service
We provide you best service at reasonable fee, contact Us.
[gravityform id="1" title="true"]
Some of Our Clients
Our Clients Speak
We have been working with clients around the world
As a loyal customer of Team IN Filings in Bangalore, I am thrilled to express my utmost satisfaction with the exceptional service they provide. Their expertise in GST filing services and other areas, combined with their commitment to customer satisfaction, has truly impressed me.When it comes to GST filing, Team IN Filings leaves no stone unturned. They have a highly knowledgeable team that meticulously reviews my financial records, ensuring accuracy and compliance with all regulatory requirements. Their attention to detail is commendable, and they always complete the filing process in a timely manner.Moreover, their additional service offerings, such as PT (Professional Tax) assistance, have been instrumental in simplifying my tax obligations. Team IN Filings exhibits a deep understanding of the tax landscape, providing valuable insights and guidance throughout the process. Their expertise has been invaluable in helping me navigate complex tax regulations.What sets Team IN Filings apart is their exceptional customer service. From the moment I engaged with them, their team has been attentive, responsive, and friendly. They patiently address all my queries, provide clear explanations, and ensure that I am fully informed about every step of the process. Their dedication to customer satisfaction is truly remarkable.I also appreciate the transparency and affordability of their services. Team IN Filings offers competitive prices without compromising on the quality of their work. Their pricing structure is fair and transparent, giving me confidence that I am getting excellent value for my money.In conclusion, I wholeheartedly recommend Team IN Filings for all your GST filing and other taxation needs. Their expertise, professionalism, and exceptional customer service have exceeded my expectations. I am incredibly grateful for their assistance and look forward to continuing my partnership with them in the future.Five-star rating: ⭐⭐⭐⭐⭐
As a Client I m happy to work but unfortunately I became a Student of Mr.Prakash sir bcoz from 6 months almost I lost my interest on my Brand name but ,now I positively changed my mind nd Brandname to grow good Business its all credits goes to Praksh sir Bcoz,that much he had explained me like a Teacher about company nd brand building so really I m very happy to work forward with them so thank u soooo much sir..........
Highly professional team of CA, CS and trademark experts. Exceptional tax advisory services offered in Bangalore and they will help in company registration, GST filing, Income tax filing and management consultancy services.
Highly professional team of of Ca,Cs and trademark experts with highly knowledgeable experts. They help is gst filing, company registration and consultancy services etc . The Team In filings team are highly qualified and will help you company registration, accountants, gst filing, IT filings and management consultancy services .
Mr. Prakash and Mr. Damodara and entire Team IN Filings are very knowledgeable, cooperative and very prompt to requests and queries regarding GST filings, ITR filings and most importantly Mr. Prakash is highly professional when it comes to Company Incorporation and other compliances of Private Limited Company.It is highly recommended for any private limited company to go ahead with Team IN Filings. Kudos to the entire Team IN Filings.
The Faces Behind Our Success
We’re smart, we’re hardworking, We’re easy to talk & We love a challenge.
Employee profiles. By including employee profiles with relevant information on each team member, visitors will have a better idea about who they should address their problem, question, or concern with. …
Ready To Reach New Heights?
Let's Get There, Together.
Team IN Filings office Bangalore, make sure to support to your business in each stage to achieve your business
