To incorporate a Section 8 company a minimum of two persons are required over the age of 18 years with atleast one person being an Indian citizen and resident.
Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to a established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object', provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes.
A Section 8 Company is similar to a Trust or Society; expect, a section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.
Section 8 Company - the old Section 25 Company is a company incorporated under Section 8 of Companies Act, 2013 for not for profit purposes in India.
List of documents required for company registration in India. Documents required for Indian or Foreign Director, registered office and shareholder in company.
Guide to 80G certificate covering aspects like eligibility, deduction and process for obtaining 80G exemption. 80G registration provides tax benefits for eligible donors.
Section 8 Company, Trusts and NGOs having 12A registration enjoy exemption from paying income tax on the surplus income of the Trust or NGO. To obtain 12A Registration, an application in Form 10A for registration of charitable or religious trust or institution must be made online to the Commissioner of Income Tax.
Trust Registration is done in India by the Trust Act, 1882. The Trust Act, 1882 defines a Trust as "an obligation annexed to the ownership of property and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another or of another and the owner.
An overview of Society Registration Act and procedure for Society Registration in India. Societies are registered for promoting common purposes and charity. To register a society, the rules for Society Registration in the State in which the registered office of the Society is going to be situated must be reviewed.
Online trademark registration, trademark search, documentation and Expert help for TM filing. Easily submit your trademark application for just Rs.5988 in less than a day from the comfort of your home. IndiaFilings provides a range of trademark services from trademark filing to objection handling.
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Open a new or link your existing ICICI bank current account with LEDGERS for seamless bank account reconciliation, account balance check and sending of payments through NEFT / RTGS / IMPS.
Opening a current account for a section 8 company is easier when compared to opening of current account for a Trust or Society as a company is a registered legal entity – recognized by law. Therefore, once a company is incorporated, a bank account can be opened in the name of a company with the incorporation certificate of the company and identity/address proof of the Directors.
The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Section 8 Company.
An address in India where the registered office of the Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.
No, you will not have to be present at our office or appear at any office for the registration of a Section 8 Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
Identity proof and address proof is mandatory for all the proposed Directors of the Section 8 Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
IndiaFilings.com can incorporate a Section 8 Company for in 20-30 days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Section 8 Company.
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
Yes, a NRI or Foreign National can be a Director in a Section 8 Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India.
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