Section 8 Company Registration is governed by the Indian Companies Act, 2013, and the rules and regulations made by the said Act. The Ministry of Corporate Affairs administers it, Government of India, though the company’s registrar offices located in all states of the country.
The demand for the availability of the name of Section 8 companies is made in a facility “Unique Subject Name.” Name of Section 8 Company should not include the words Private Limited or limited to the end of its name.
What are the main objectives of Section 8 company registration?
- Promotion of science, art, commerce, financial assistance, social welfare, education, sports, charity, research, medical, religion or proper protection Business/legal environment
- The benefit that is derived from these activities should be used to promote the activities of the organization of the company, or it must be used to achieve the objectives of the sales organization
- No part of the benefit to be paid to members of society
Therefore, we accomplish that Section 8 Company Registration is an NGO that is registered only for social welfare, charity, microfinance, or to the objectives of the organization to society in general.
When a user requests to reserve the name of the formation of a new company or to change the name of an existing company, we must ensure that the proposed name does not contain the names that are forbidden under the name availability society Guidelines.
Trademark search is conducted to ensure that the proposed name is not in violation of the provisions of Article 4 (2) of the Companies Act 2013. The intended name will be rejected if it does not comply with directives.
Documents required for Section 8 Company Registration:
- Passport-size photographs
- Proof of identity for members of society
- Address proof for members
- Copy of the rental contract if rented
- Copy ownership documents, if any
- NOC of the Owner
- Copy of electricity bills
- A copy of the signature
- The revenue and surplus should be used exclusively to achieve the main objective of the company.
- Secretary-General of appointment is not mandatory.
- The incentives or commission are not allowed.
- No need for minimum capital.
- Section 8 Company Directors may take positions in more than 20 companies.
- Annual General Meeting can be performed in a shorter notice period.
- No part of the profit has to be paid to directors and members of society.
- The company’s objective cannot be altered without prior approval of the Central Government of India.
- The profit is 100% tax-free if the record 12A is obtained from the service tax on income.
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