Description
NGO Registration India: Section 8 Company Registration
A Section 8 Company is a non-profit organization in India that aims to promote charitable activities, arts, science, education, and sports. The profits of these companies are used to support their objectives and are not distributed to the company’s members. It is important to understand what a Section 8 company is, the required documents, and the incorporation process.
NGO Registration
At EYC International, we offer comprehensive services to help you register a Section 8 company in India. Our experts provide professional and efficient services to make the process easy for you. Contact us today to get started with your Section 8 Company registration in India.
What is a Section 8 Company? – Companies Act, 2013
According to the Companies Act 2013, a Section 8 company is an organization whose goals are to promote arts, commerce, science, research, education, sports, charity, social welfare, religion, environmental protection, or similar activities. These companies use their profits to achieve their objectives and do not distribute dividends to their members.
Overview of Section 8 Company Registration
A Section 8 Company is established to promote non-profit activities like education, social welfare, environmental protection, arts, sports, and charity. It follows the provisions of the Companies Act 2013.
To register a Section 8 Company, you need at least two directors, and there is no requirement for a minimum paid-up capital.
Key Points about Section 8 Company Act
- NGO Registration: Non-Governmental Organizations (NGOs) can be registered as a Section 8 Company under the Companies Act, 2013.
- Profit Utilization: Profits must be used for charitable purposes and cannot be distributed among members.
- Legal Compliance: Section 8 Companies must comply with the Companies Act 2013, maintain books of accounts, file returns with the Registrar of Companies (ROCs), and comply with GST and IT Act.
- Government Consent: Changes to the Articles of Association (AoA) and Memorandum of Association (MoA) require government approval.
Benefits of Opening a Section 8 Company in India
Registering a Section 8 Company in India has several benefits:
- Tax Exemption: Eligible for 100% tax exemption under section 12AA of the Income Tax Act.
- No Minimum Capital: No minimum capital requirement, allowing flexible capital structure.
- Separate Legal Entity: Has a separate legal identity and perpetual existence, enhancing credibility.
- Increased Credibility: Subject to strict legal compliance, making them more trustworthy.
- No Title Requirement: Free to choose a name without needing to affix terms like “Section 8”.
Eligibility Criteria for Incorporation of a Section 8 Company
To establish a Section 8 Company in India, the following criteria must be met:
- Indian National or HUF: Can incorporate a Section 8 Company.
- Minimum One Director: Required for incorporation.
- Non-Profit Objectives: Must promote art, science, sports, charity, education, or financial assistance for lower-income groups.
Mandatory Legal Requirements for a Section 8 Company
Before starting the incorporation process, ensure you meet these legal requirements:
- Directors: Minimum of two directors for a private limited company; three for a public limited company.
- Members: A private limited company can have up to 200 members; no limit for a public limited company.
- Capital Requirement: No minimum paid-up capital is required.
- Company Objects: Must have non-profit objectives clearly stated in the MoA and AoA. Profits must be used for charitable purposes or reinvested in the entity.
Documents Required for Section 8 Company Incorporation
To incorporate a Section 8 company, you need the following documents:
- Articles of Association (AoA) and Memorandum of Association (MoA)
- Declaration by first directors and subscribers
- Proof of office address (utility bills)
- Certificate of incorporation of any overseas corporate body (if applicable)
- The resolution passed by the promoter company
- Consent of Nominee (INC-3)
- Residential and identity proof of nominees and subscribers
- Digital Signature Certificate (DSC)
- Declaration of unregistered companies
Section 8 Company Incorporation Process
The incorporation process involves several steps:
Step 1: Obtain a Digital Signature Certificate (DSC)
First, get a Digital Signature Certificate (DSC) for the proposed directors. This certificate is required for online document filing with the Ministry of Corporate Affairs (MCA).
Forms to use: DIR-3, DSC
Step 2: Obtain Director Identification Number (DIN)
Next, apply for a Director Identification Number (DIN) for the proposed directors. The DIN is a unique number issued by the MCA.
Forms to use: DIR-3
Step 3: Reserve the Company Name
Reserve the company’s name with the MCA using Form INC-1. The name must be unique and not similar to any existing company name.
Forms to use: INC-1
Step 4: File the Application for Incorporation
Once the name is approved, apply for incorporation using Form INC-32 along with the MoA and AoA.
Forms to use: INC-32, MoA, and AoA
Step 5: Obtain a License for Section 8 Company
Apply for a license using Form INC-12. This should be filed with the necessary documents.
Forms to use: INC-12
Step 6: Obtain a Certificate of Incorporation
The MCA will issue a Certificate of Incorporation in Form INC-16, confirming the company’s incorporation.
Forms to use: INC-16
Donations/Funding of Section 8 Company
A Section 8 Company can raise funds through donations but cannot collect capital through deposits. Fundraising methods include:
- Foreign Donations: Allowed with FCRA registration (after three years of registration).
- Equity Funding: By releasing new equity shares at a premium price.
- Domestic Donations: No restrictions but must have systems to prevent money laundering.
Streamline Section 8 Company Registration with EYC International
EYC International helps entrepreneurs and organizations register Section 8 companies in India. Our expertise and online platform simplify the registration process, ensuring all legal formalities are met. Our professional team guides you through the documentation, approval, and establishment of your non-profit organization.
Contact us now to start your Section 8 company registration journey.
Our Services: NGO Registration
Startup India Registration | |
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CSR-01 Form (To get CSR funding). | |
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CE REGISTRATION (Conformite Europeenne, conformity with European health, safety, and environmental protection standards on commercial products). |
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- Address Suite #1 Patel House Near Govt. Rest House Pen Raigad MH India 402107
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- Inquiry 7891007892
- Website https://www.eycinternational.in
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FAQ
- What is a Section 8 Company?
- A Section 8 Company is a type of non-profit organization in India that aims to promote charitable activities such as education, social welfare, environment preservation, arts, sports, and other similar objectives. These companies use their profits to further their goals and do not distribute dividends to their members.
- What are the benefits of registering a Section 8 Company?
- Tax Exemption: Eligible for 100% tax exemption under section 12AA of the Income Tax Act. No Minimum Capital Requirement: Flexible capital structure. Separate Legal Entity: Enhances credibility and provides legal standing. Increased Credibility: Subject to strict compliance, making them more trustworthy. No Title Requirement: Free to choose a name without needing to add terms like "Section 8".
- What are the eligibility criteria for starting a Section 8 Company?
- Must be an Indian national or a Hindu Undivided Family (HUF). Requires at least one director. The primary objective must be to promote arts, science, sports, charitable activities, education, or financial assistance to lower-income groups.
- What documents are required for Section 8 Company incorporation?
- Articles of Association (AoA) and Memorandum of Association (MoA). Declaration by first directors and subscribers. Proof of office address (utility bills). Certificate of incorporation of any overseas corporate body (if applicable). Resolution passed by the promoter company. Consent of Nominee (INC-3). Residential and identity proof of nominees and subscribers. Digital Signature Certificate (DSC). Declaration of unregistered companies.
- How do I register a Section 8 Company in India?
- The registration process includes: Obtain Digital Signature Certificate (DSC): Required for online document filing. Obtain Director Identification Number (DIN): Unique number for proposed directors. Reserve the Company Name: Ensure the name is unique. File the Application for Incorporation: Submit Form INC-32 with MoA and AoA. Obtain a License: Apply using Form INC-12. Obtain a Certificate of Incorporation: Issued by MCA as Form INC-16.
- Can a Section 8 Company accept donations?
- Yes, a Section 8 Company can accept donations. They can raise funds through:Foreign Donations: Allowed with FCRA registration (after three years of registration). Equity Funding: By releasing new equity shares at a premium price. Domestic Donations: No restrictions but must have systems to prevent money laundering.
- What are the legal compliances for a Section 8 Company?
- Must maintain books of accounts. File returns with the Registrar of Companies (ROCs). Comply with GST and Income Tax Act. Obtain government consent for changes to the AoA and MoA.
- What are the differences between a Section 8 Company and other non-profits?
- Section 8 Companies are subject to strict legal compliances and are more credible than other non-profits like trusts and societies. They also have a separate legal identity and perpetual existence, unlike other non-profit entities.
- How long does it take to register a Section 8 Company?
- The registration process can take approximately 30-45 days, depending on the completeness of documentation and government processing times.
- Can a foreign national be a director in a Section 8 Company?
- Yes, a foreign national can be a director in a Section 8 Company, provided they meet the eligibility criteria and obtain the necessary approvals.
- Do I need a minimum amount of paid-up capital to start a Section 8 Company?
- No, there is no minimum paid-up capital requirement for starting a Section 8 Company. This allows for flexibility in capital structure.
- Can a Section 8 Company pay dividends to its members?
- No, a Section 8 Company cannot distribute dividends to its members. All profits must be used to further the company’s charitable objectives.
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