In India, a Section 8 company focuses on supporting charities and non-profit activities in areas like education, art, science, faith, and social welfare. To register a non-profit organization, you can choose to create a trust through a trust deed, form a society under the Registrar of Societies, or establish a non-profit company under Section 8 of the Companies Act, 2013. This new Act has replaced the old Companies Act, 1956, where Section 25 companies are now known as Section 8 companies.
A group or an individual wanting to get officially recognized under Section 8 of the Companies Act, 2013 as a limited company must:
Aim to support areas like business, art, science, sports, education, research, social welfare, religion, charity, environmental protection, or similar causes.
Plan to use any profits or earnings to further those objectives.
Plan not to distribute any profits as dividends to its members.
1. Director Photo
2. Director Pan Card
3. Director Identity Proof-DL / Passport / Aadhar Card / Voter card
4. Director Address Proof-Bank Statement / Mobile Bill / Telephone Bill / Electricity
5. Registered office address Proof- Electricity Bill / Water Bill / Phone Bill / Gas Line Bill / Property Ownership Document
6. No Objection Certificate (NOC) from the owner
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First step is to acquire DSC (Digital Signature Certificate) & DIN (Directors Identification Number) in a Section 8 company You can get approval in two days It is used to digitally sign the e-forms
When selecting a name for a Section 8 Company, it should contain words like foundation, forum, association, federation, chambers, confederation, council, electoral trust, and similar terms for approval
The Articles of Association are like a rulebook for how a company runs on the inside When making these documents, every person who's starting the company needs to sign them They just have to include their name, address, what they do, and a brief description of themselves
Once the CRC approves the name, you can use Form INC-12 to apply for a license from the Registrar under section 8, subsection (1)
After receiving Central Government approval i e approval of form, one may go ahead with filing of Incorporation Form
For public limited companies, at least 3 people and 2 directors are needed, and for private limited companies, it's 2 people and 2 directors. You can have up to 15 directors at most.
Yes, you must have an address in India for the company's registered office. This place can be a commercial, industrial, or residential space where you can receive official communication from the Ministry of Corporate Affairs (MCA).
Yes, if someone wants to, they can change a Section-8 Company into a Private Limited Company in the future.
You don't need a minimum amount of money to start a Section 8 company in India. If you want to register one, you don't have to stress about the capital needed.
The board of directors can pick an auditor for a Section 8 company within 30 days, and there's no need for approval from the Central Government.
Yes, a Section 8 Company can do business, but the money it makes from business must be used to support its charitable goals. The business activities should be related to the organization's main objectives.
Yes, a Section 8 Company can own property, assets, and intellectual property rights necessary for carrying out its charitable activities. However, the utilization of these assets should be aligned with the objectives of the organization and cannot be for personal gain.
