Section 8 Company Registration
Section 8 company is a non profit organization npo that can be registered as a trust society or ngo under section 8 of companies act 2013.
Section 8 company registration. The only aspect where they differ is that a section 8 company cannot use the words section 8 or limited in its name. Because it is registered for not for profit purposes. Here is a section 8 company registration procedure.
Section 8 company registration process requires at least two people to start with. Section 8 company registration in india is the method of incorporation of annon governmental organizations under the companies act 2013. Section 8 company registration procedure is as follows preparation of digital signature certificate dsc and filing for approval of name applying for digital signature certificate dsc is the first step for registering the section 8 company.
Section 8 company registered under companies act 2013 for social activity without having any intention for earning a profit. It is counted for the charitable purpose or for not for profit business. Registration of a section 8 company involves the same process as incorporating an ngo trust or co operative society under the companies act 2013.
A section 8 company registration is similar to a trust or society registration in nature and purpose expect a section 8 company is registered under ministry of corporate affairs and trusts and societies are registered under state government regulations. This is subject to the provisions of section 8 of the companies act 2013. Further there is no limit for initial capital and hence it may be started with rs 10 000.
One additional requirement is that it has to seek a prior license from the central government u s 8 of the companies act 2013. The process of registering a section 8 company is the same as incorporating an ngo trust or co operative society under the companies act 2013. Company registration a company can be registered for charitable purposes with the object of not making any profits.
What is section 8 company. Any company under section 8 of the companies act 2013 can be registered for promoting science art commerce technology education sports social research social welfare religion charity and protection of environment etc. Even registering section8 company offers more benefits than society registration or trust registration.