❖ Section 8 Company - Companies with Charitable Objects (NGO / NPO)
All those companies which are registered as per the rules, provisions, and regulations of the Section-8 of the Companies Act of 2013, are known as the section-8 companies. These section 8 companies can be registered as a private limited company or as a public limited company. The main objectives of such a company is quite similar to those of a non-governmental organization (NGO) or charitable Trust, but these section-8 companies are registered under the Ministry of Corporate Affairs, Government of India. Under the former Companies Act of 1956, such companies were getting registered under the section 25 of the Act.
The section 8 company - companies with charitable objects (NGO/NPO), gets certain exclusive tax-related and other exemptions and some privileges under the Companies Act of 2013. Since the basic and ultimate objectives of a section-8 company are averse to earning of profits, such a company is also called as the non-profit organization (npo), the latter type is generally registered under the central Societies Registration Act of 1860 or the relevant Trust Act.
Section 8 Company Registration
The non-profit objectives of a section-8 company support and promote social development and social welfare, and may be related with the fields of art and science, charity, education, health, commerce, environment, religion, research, etc. Usually, the time taken for registration of a section 8 company in India is about 20-30 days, counted from the date of submission of all various documents required for sec 8 company registration to the concerned ROC.The entire section 8 company registration procedure encompasses the following main activities or tasks:
- Obtaining DSCs and DINs for the Directors
- Getting governmental approval to any of the proposed names (Form INC-1)
- Filing Form INC-12 for issuance of license under the Section 8
- Filing company registration Form INC-7 with relevant ROC
- Preparing MOA and AOA
- Submitting Form INC-8, Consent Letters, Affidavits, PA, etc.
- Filing Form DIR-12 and Form INC-22
- Lastly, obtaining the certificate of registration.
The minimal number of directors will be two or three, depending on the structural type of the proposed section 8 company, i.e. whether it is a private limited company or a public limited company. The documents required for section 8 company registration fall under the following broad categories:
- Personal details of the directors and shareholders [PAN Card, Identity Proof, Address Proof, Photographs, etc.]
- Address Proof of the Head/Registered Office of the company
- Documents associated with the real estate property where the office of the company is proposed, to ensure security from any types of disputes related with the rented/owned real estate property.
To avail our fast, perfect, and cheaply-charged services for section 8 company registration or ngo registration anywhere in entire India, interested people may call over: +91-8800-100-284 ; or send their relevant queries to: Contact@CompanyRegistrationIndia.co.in.