Best Formation for your Non-Profit
A Section-8 Company may be registered when the primary purpose of the Company is to promote non-profit objectives such as trade, commerce, arts, charity, education, religion, social welfare, environment protection, sports, research etc. Sec 8 Company is a non-profit organization. Though it can generate profit or income, but have to utilize the income or profit for the promotion of the object and not for distributing it to the promoters. Thus, Section 8 Company Registration is required for organizations willing to work for charity and NGOs.
Ensures a Transparent Image Among Donors
The primary purpose of Sec 8 Company registration is to promote non-profit objectives. It is a most suitable formation for NGOs willing to work anywhere in India. As compared to State registered NGOs, Sec-8 NGOs have more transparent image among donors due to central registration under ROC and regular compulsory compliances.
Section 8 Company Registration requires only 2 directors to incorporate unlike trust or society registration where minimum member requirement is 3 and 7 respectively. Apart from that, section 8 Company enjoys all other features of a Company like Separate Legal entity, Perpetual Succession, etc.
Benefits of Sec 8 Company
In an objective to gear up overall economic and social development, NGOs registered under Section 8 enjoys numerous benefits and advantages under Company Law.
- Privileges and Exemptions are available to Section 8 Company under Company law.
- Non-application of Companies Auditors Report Order.
- Exemption from requirement of minimum paid up capital.
- Registered Partnership Firm can be a member of a Sec 8 Company.
- May apply for Govt. Funds, CSR Funds, and Private donations legally.
- Tax deductions to the donors of the Company u/s. 80G of the Income Tax.
- More preference as a National NGO as compared to State registered NGOs.
Before going for a Private Limited Company Registration in India, one must ensure the minimum requirements of different parameters as per Companies Act 2013.
Company Name Must be Unique: A Company name must be distinct and unique. The proposed Company Name should not be similar to any existing registered Indian Companies or Trademarks.
Minimum Two Directors: A Private Limited Company must have at least two Directors, with a maximum of fifteen. Minimum one of Company’s Director must be a resident of India. However, Single Director is applicable only for One Person Company Registration.
Minimum Capital Contribution & Authorized Capital: A Company may have any Capital Contribution generally starting from Rs 1 Lakh, but must have a minimum Authorized Capital of Rs 1Lakh.
Registered Office: For a Private Limited Company Registration in India, a Company must have a registered address within India from where the basic business operation will be done. It is not mandatory to be a commercial location.
It is Easy to Form a Sec 8 Company
Documents requirements for a Private Limited Company Registration in India is very simple and only scan copies of the documents required by the authorities.
Documents of the Directors of the proposed Company
- Photographs of both the Directors
- PAN Card, Aadhar Card and Voter ID
- Address Proof: Updated Bank statement/Electricity Bill/Telephone Bill/Mobile Bill(not older than 30 days) – any one
- Identity Proof: Voter ID Card/Passport/Driving License (any one)
- Consent of Director (Format will be provided)
Documents for Registered Office Address
- Latest Electricity Bill/Any Other Utility Bill in the name of the owner
- Rent Agreement between owner and proposed Company promoter.
- NOC from the owner (Format will be provided)
Sec 8 NGO Package
TRUSTLINK offers attractive package for Private Limited Company Registration. Our Private Limited Company Registration Package offers the following package with its clients:
- 2 Digital Signatures with Token
- Preparation of MOA & AOA
- DIN for Directors
- PAN and TAN of the Company
- PF & ESIC Registrations
- Incorporation Certificate
- Bank Resolution for Account Opening.
- Free 1 year web hosting* with ssl.
What our customer say
Dr Mukhtar Ahmed
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