Section 8 Company Registration

Company Registration in Mumbai, GST Registration in Mumbai, GST Filing, LLP Registration in Navi Mumbai, Partnership Firm Registration in Andheri, Private Limited Company Registration in Bandra, Tax Baniya

The Companies Act defines a Section 8 company as one whose objectives is to promote fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, or other similar objectives. These companies also apply their profits towards the furtherance of their cause and do not pay any dividend to their members.

These companies were previously defined under Section 25 of Companies Act, 1956 with more or less the same provisions. The new Act has, however, prescribed more objectives that Section 8 companies can have.

  • Section 8 companies do not aim to make profits. Their objectives are purely charitable in nature. 
  • Section 8 companies, unlike all other companies, do not require a prescribed minimum paid-up share capital.
  • Members of these companies can only have limited liability. Their liabilities cannot be unlimited in any case.
  • Since these companies possess charitable objectives, the Companies Act has accorded several benefits and exemptions to them.
  • Apart from individuals and associations of persons, Section 8 also allows firms to be members of these companies.

Tax Baniya will help you in all your requirements regarding the registration of Section 8 Company and other formalities. Our Business advisors will give solutions to all your queries regarding Section 8 Company Incorporation and help you to take your decisions easily.

Tax Baniya started with the simple idea that doing business in India should be very easy. Our growing team of young hard working professionals is our biggest asset. Our team puts the consumer first, and work meticulously to ensure that documents are filled correctly and swiftly.

Tax Baniya is leading Company Registration Service Provider and acts as a Consultant in Mumbai, Navi Mumbai, Thane, Palghar 

Simple Pricing With Deliverables

Diamond

₹13,999
  • Time Line : 10 – 15 Days
  • DIN for 2 Directors
  • DSC of 2 Directors
  • Name approval Directly in Spice Form
  • e-MOA / e-AOA
  • Certificate of Incorporation
  • e-PAN Card
  • e-TAN Letter
  • Mandatory ESIC/EPFO Registration
  • Professional Tax Registration
  • Certificate of Commencement
  • Provisional 12AA
  • Provisional 80G (Valid for 3 years)

Diamond

₹1,09,999
  • Time Line : 10 – 15 Days
  • DIN for 2 Directors
  • DSC of 2 Directors
  • Name approval Directly in Spice Form
  • e-MOA / e-AOA
  • Certificate of Incorporation
  • e-PAN Card
  • e-TAN Letter
  • Mandatory ESIC/EPFO Registration
  • Professional Tax Registration
  • Certificate of Commencement
  • Final 12AA
  • Final 80G

Registration Process

For Section 8 Company

Company Name & Objects

Give 2-3 Proposed Name of Company and its Objects
Check Name Availibility

Get Name Approval

First in Form Spice+ A or Directly In Spice Form

Collect Checklisted Documents

Apply For Digital Signatures

Prepare Incorporation Documents, MOA, AOA & Get Signed

Spice+ B Form

Get COI, e-PAN, e-TAN, PF/ESIC, Professional Tax

Open Bank Account

Get Certificate of Commencement

Company incorporated in India is liable to file the commencement certificate within 180 days from the date of incorporation

Documents & Information Required

For Registration of Private Limited Company

Company Specific Details

  • Name of Company
  • Significance of Company Name
  • Object of Company
  • Authorised Capital
  • Paid up Capital
  • Address of Company (Not older than 1 month) - Electricity Bill Or MTNL Bill or GAS Bill
  • No Objection on from Owner

Directors / Share holders’ Details

  • Name of Promoters
  • Shareholding Pattern of Promoters
  • Email ID of Promoters
  • Mobile Number of Promoters
  • Photos of Promoters
  • Identity Proof - Any 1 Out of Passport / Driving License / Voter Id Card / Aadhaar
  • Residential Proof (Not Older than 1 Month) - Any 1 Out Of Electricity Bill / Phone Bill / Mobile Bill / Bank Statement in the name of the Promoter

Features

of Section 8 Company

Special Section 8 License

No minimum capital requirements. Stamp duties and high fees are not payable for registration. They get several tax exemptions. They have perpetual existence and separate legal status. Exemptions from carrying out several procedural compliances.

Better Credibility

Section 8 Company has More credibility than compared to NGOs, societies, and trusts because they are recognized by the Central Government’s license.

Utilisation of Profits only for NGO Activities

The Companies Act defines a Section 8 company as one whose objectives is to promote fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, or other similar objectives. These companies also apply their profits towards the furtherance of their cause and do not pay any dividend to their members.

Benefits u/s 12AA & 80G of Income Tax Act

Section 8 companies are more of a charitable institution, they have access to the various exemptions available under the IT Act. These companies are qualified to access multiple tax benefits and a tax cut. Section 80G of the Income Tax Act rendered plenty of tax-related benefits to these companies.

Post Incorporation Compliance of Company Under Compaies ACT 2013

  • Appointment of first auditor
  • Opening of bank account for the company & Deposit Capital As per MoA
  • Registering under other acts Like GST, IEC, Udyam, Startup india, FSSAI
    Apply for CoC within 6 months from date of incorporation, however allotment of the securities
    required within 60 days so effectively apply for CoC within 60 days. Failure to comply with above provisions shall have following consequences:
  • Non-issuance of share certificates within the prescribed time limit: Penalty of Rs. 50,000 on both company and officer in default.
  • Failure to comply with Section 10A: Penalty of Rs. 50,000 on company and penalty of Rs.1,000 for each day subject to maximum of Rs. 1,00,000 on officer in default.

Annual Compliances

of Company Under Companies ACT 2013

  • Minimum 4 board meeting with an interval of maximum 120 days between 2 consecutive board meeting,
  • Statutory audit of accounts and appointment of Auditors (ADT 1),
  • Filing of annual return (form MGT-7),
  • Filing of financial statements (form AOC- 4),
  • DIR KYC of All directors
  • MSME Compliance half yearly DPT Form for Loan from directors and Relatives (DPT 3)
  • Holding Annual General Meeting,
  • Preparation of directors’ report.
  • Office Address KYC - Active 22A
  • Maintenance of Minutes and Statutory Registers

Other Compliances

Event Based

  • Change in authorized or paid up capital of the Company.
  • Allotment of new shares or transfer of shares.
  • Giving loans to other Companies.
  • Giving loans to directors.
  • Appointment or change of the statutory auditors of the Company.
  • Change in the registered office of the Company (Inc-22)
  • Change in the director of the Company (DIR-12)
  • Change in the auditor of the Company (ADT-1)
  • Change in the object of the Company
  • Change in the name of Company
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