SECTION 8 COMPANY REGISTRATION
(Online Process/Free Consultation)
Register your Section 8 Company anywhere in India. Our dedicated team of professionals at Team Expert will help you to register your Section 8 Company.
WHAT IS SECTION 8 COMPANY REGISTRATION?
Section 8 company is a company registered with charitable objects such as the promotion of Arts, commerce, science, education, sports, protection of the environment, religion, charity, etc. By promoting it as a not-for-profit organization, the Act does not bar the company from profit creation but rather prohibits distributing of profit among members. This says that all the income or profit from any activity of the company must be utilized towards charitable purpose for which it is registered.
Tech companies and start-ups usually prefer Private Limited company because it is easy to raise funds from venture capitalists. Also funds can be raised through SAFE agreement.
SECTION 8 COMPANY REGISTRATION PROCESS IN INDIA
In order to start your business with such an entity, you need to go through the process of Private Limited company incorporation. Once you are successful with the process, you will get to enjoy the perks of a private limited company that include the following:
STEP 1: NAME APPROVAL
For the name approval , an application is filed in the prescribed Form RUN (Reserve Unique Name) with the Ministry of Corporate Affairs. Section 8 companies should contain words like Foundation, Society, Association, Council, Club, charities, Academy, organisation, Federation, Institute, Chamber of Commerce, Development and many more.
STEP 2: DIGITAL SIGNATURE CERTIFICATE (DSC)
All proposed directors of the Company must have a digital signature that will be used to file the online Company Registration application.
STEP 3: APPLICATION FOR SECTION 8 COMPANY REGISTRATION FROM REGIONAL DIRECTOR(MCA)
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.
STEP 4: SUBMISSION OF FINAL INCORPORATION FORM OF SECTION 8 COMPANY ALONG WITH MOA & AOA
After obtaining License for Section 8 Company Registration, we will Proceed to file final forms along with MOA
STEP 5: BANK ACCOUNT
Open your bank Account and Launch your business.
BENEFITS
1: Tax & Compliance Exemptions
Registration under Section 8 of Companies Act, it obtains a special status – distinct from other entities. Not only the company enjoys tax exemptions, but also the donors can claim an exemption for the donation made (under Income Tax). Apart from tax exemption, the company is also exempted from the applicability of many compliance-related provisions.
2: No Stamp Duty
There is 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.
3: No Corporate Title
Section 8 Company enjoys the benefit of the corporate entity, it is not labeled as the corporate entity. The company does not need to add the suffix “Private Limited” or “Limited” after its name. This exemption is provided so that third parties offer their attention to the company’s purpose and not its status assuming it is profit making organization.
4: Exemption to Donors
Under Section 80G, the exemption is granted to the donors if the section 8 company is registered under section 80G.
5: Separate Legal Identity
Being registered as a company, it obtains a separate identity apart from its members.
Get a free consultation for Private Limited Company registration by scheduling an appointment with Team Expert
WHY CHOOSE US
We ensure startups to focus on their project and leave all the legalities and documentations to us. From our technology driven platform and on time delivery startups prefer us to do Company registration.
100% Technology driven platform to speed up your company registration process and make your life easy
We understand the value of money for startups. We offer complete transparency and affordable cost to startups.
Fully online service so that you can start and complete the process without running around from the comfort of your home or office.
At Team Expert, we work only with experienced Chartered Accountants & Company Secretaries to handle your company registration.
REQUIREMENTS
MINIMUM TWO / THREE DIRECTORS
MINIMUM TWO / SEVEN SHAREHOLDERS
CHARITABLE OBJECTS
ADDRESS PROOF FOR REGISTERED OFFICE
DOCUMENTS REQUIRED
PHOTOGRAPH
Latest Passport size photograph of Shareholders & Directors.
PAN CARD
Pan Card of Shareholders & Directors
ADDRESS PROOF
Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.
IDENTITY PROOF
Aadhar Card/ Voter ID/Passport/ Driving Licence of Shareholders & Directors.
FOR REGISTERED OFFICE
Rent agreementUtility bills-telephone, electricity,and municipal(Not older than 2 Months)NOC From Owner.
Post Company Registration Requirements?
Once the Company registration is completed, you have to take the necessary steps in order to make a strong presence in the industry.
Goods and Service Tax registration is required for Business with annual turnover exceeds Rs. 40 Lakhs (Rs 20 Lakhs for Northeast states) GST registration is mandatory for particular businesses like Export-Import, E-commerce, and Market Place Aggregator.
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Register your company in Startup India in 8-10 working days. Our dedicated team of professionals at Team Expert will help you to register your Company in Startup India