WHAT IS A SECTION 8 COMPANY ?
- It is a nonprofit Organization. It is a type of company which is established with the objective to promote commerce, arts, science, sports, education, research, social welfare, protection of the environment or any other such object.
WHEN SHOULD I FORM A SECTION 8 COMPANY ?
- If you wish to start an ngo or already have an NGO.
- If your organization's objectives are atleast one of the following:
TO PROMOTE:
- COMMERCE
- ARTS
- SCIENCE
- SPORTS
- EDUCATION
- RESEARCH
- SOCIAL WELFARE
- PROTECTION OF ENVIRONMENT
- OTHER SUCH OBJECTS
DOCUMENTS REQUIRED
FOR REGISTRATION
Identity proof for Directors
Address proof for Directors
Address proof for Company address along with NOC from landlord.
- No Stamp duty payable for registration as applicable for others such as Private and public company.
- This company has more Credibility as it is licensed by Central Government.
- Tax Exemptions are provided to sec 8 Company and donors of sec 8 company.
- A Section 8 company need not suffix " Private Limited" or "Limited" at the end of its name.