Section 8 Company Registration
A Section 8 Company is the most popular type of corporate entity in India. It is registered as per the compliance and regulatory guidelines of the Ministry of Corporate Affairs (MCA).
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Section 8 Company Registration
Section 8 Companies are registered for charitable purpose These Companies are formed for promoting commerce activities, art, science, sports, social welfare, religion, charity, or any such other object and intend for the social benefit of People. A Section 8 Company can be registered as Non profit Organization. The income of the Non Profit Organization can be used for promoting only charitable objects.
Who can apply for registration of a Section 8 Company?
Person or associations of persons who want to work for the social charitable purpose can apply for registration of a Section 8 Company. Any Person who is opting for section 8 company can form it with the below mentioned objectives:
(a) Promoting activities i.e commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment
(b) The income generated from the Company should be used to promote charitable objects only
(c) Section 8 companies Prohibits the payment of dividend to its members.
Documents Required for Incorporating Section 8 Company
- Identity Proofs of all Directors as well as Subscribers
- Address Proofs of all Directors as well as Subscribers
- Digital Signatures
- DIN Number, if any
- Memorandum of Association of company
- Articles of Association of Company
Procedure for incorporation of a Section 8 Company
1)Application for availability of Name
Application for availability of name of section 8 company can be filed by making an application for reservation of name in spice + Form and it shall include the words such as Foundation, Forum, Association, Federation, Chambers, Confederation, Council, Electoral Trust etc. . Maximum 2 Names can be filed at a time by paying fees of Rs.1000.
2)Preparation of MOA and AOA of company
Memorandum of Association of company Describe the scope of activities of any organization. Articles of Association are a document that regulates the internal management of company. MOA as well as AOA of an organization is to be signed by subscriber to the memorandum of a company who needs to mention their name address, description and occupation and it should be signed in presence of any witness.
3)Filing of Spice + Form
After Preparing Memorandum as well as Articles of Association of Company, one needs to file Spice + Form for Incorporation of Section 8 company with the following attachments:
- Memorandum and Association of company
- Declaration by Directors in Form DIR-2
- Affidavits by subscribers
- Pan card of all Directors as well as Subscribers
- Address and Identity Proofs of all Directors as well as Subscribers
- Latest Electricity Bill for Registered office of company
- Rent Agreement/ Sale Deed
- Noc , If Registered office is taken on leave
After Preparing the above mentioned Attachments, one needs to File Spice+ Form for Incorporation of section 8 companies at MCA Portal. Happy Accounts Team can help you in filing the form and incorporating your section 8 companies.
As soon as the above mentioned Requirements are Fulfilled, Section 8 company becomes operative.