Whether Section 8 Company is Private or Public?

Whether Section 8 Company is Private or Public?

All companies in India are not operating for profit purposes. Many companies primarily operate for charitable and non-profit objectives. The company registered under Section 8 of the Companies Act 2013 is known as Section 8 Company.

Section 8 companies can only be registered as Private or Public Limited. It cannot be registered as a one-person Company (OPC).

According to Section 8 of the companies Act, 2013, such companies are established to promote commerce, art, science, sports, social welfare, charity, protection of any environment or any other such charitable objects. As per rule 8(7) of the companies Incorporation Rules, 2014 for the companies under Section 8 of the Act, all the section 8 companies are named and registered as an Association, Foundation, Society, Club, Organization etc. These companies are registered under the Ministry of Corporate Affairs, Government of India.

 

 

Created & Posted by Pooja

Income Tax Expert at TAXAJ

 

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