Section 8 Company Registration Process
What is Section 8 Company Registration in India?
Documents for Section 8 Company Registration
- PAN Card of the Directors and Shareholders
- Aadhaar Card
- Latest Bank Statement
- Telephone Bill or Electricity Bill
- Voter ID or Passport or Driving license
- Passport size photograph of all the directors and shareholders
- Copy of the Rental agreement, in case the property is on rent for the registered office
Benefits of Section 8 Company Registration
- There are certain advantages of registering an NGO or NPO under Section 8 of Companies Act 2013. Some of them are as follows:
No minimum capital: There is no minimum capital requirement for a Section 8 Company Registration in India.
Tax Benefits: There are numerous tax benefits under the Section 8 Company Registration in India.
No Stamp Duty: No stamp duty is imposed on the incorporation of Section 8 Company in India as it is against the provision of the payment of stamp duty on the MoA and AoA of the private limited company.
Separate Legal Identity: Section 8 Company registration has a separate legal entity. It acquires a distinct legal identity from its members.
Credibility: Section 8 Company has more credibility than any other form of a charitable organisation. It is under the strict provision of the Companies Act which requires a mandatory audit every year.
Exemption to the donators: Under Section 80G, the exemption is granted to the donators if the section 8 company is registered under section 80G.
Section 8 Company Registration Eligibility Criteria
Process for Registering a Section 8 Company in India
- The following process can be utilised for registering a section 8 company in India:
Prepare DSC and file Name Approval
Filing of Section 8 Incorporation Forms on MCA Portal
MoA and AoA file submission
PAN, TAN and Bank Account
Prepare DSC and file Name Approval
Apply for Section 8 Company registration license from Regional Director, MCA (INC-12)
After Name approval, we will apply for Section 8 company registration license from Regional director.
The regional director will review the objectives, plans and will grant a permit for Section 8 Company registration. RD usually takes 15 days to issue a license to operate as a section 8 company.
Filing of Section 8 Incorporation Forms on MCA Portal
After getting approval from the regional director, we will proceed to file the section 8 company registration application with the requisite documents before ROC.
Once all clarifications are provided to ROC, the ROC shall issue a Certificate of Incorporation along with a Company Identification Number (CIN).
MoA and AoA file submission
Once you get the License, you need to draft the Memorandum of Association (MoA) and Article of Association (AoA) to file section 8 company registration applications.
The Object of the company will be detailed in the MoA and the rules, and the by-laws will be mentioned in the AoA.
PAN, TAN and Bank Account
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