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  >  Non Profit Section 8 Company

Documents required for Incorporation

For incorporation of a company, we need documents/details in respect of Directors and shareholders of the proposed company. We need to upload the documents/details on MCA portal. After verification(by MCA) of all the documents/details uploaded , MCA will approve the incorporation of company.

Following documents(Scanned Copy) are required for the incorporation of the company :-

Enquiry Form

1. For Directors and Subscribers

  • Proof of Identification (Passport/ DL/ Voter ID Card)
  • Bank Statement (Not older Than 3 Months)
  • Passport size photo
  • PAN & AADHAAR

2. For Company

  • Copy of Utility Bill of proposed Registered Office (Bill shall not be older than 2 months and the name of the owner of the property should be mentioned in the utility bill)
  • Office Address Proof (Rent Agreement mentioned therein the name of any one director if rented property otherwise conveyance deed)
  • In the case of rented property NOC required from the owner of the property.
  • Estimated income and expenditure for next three years.

Benefits of Not For Profit Company

EXEMPTION FROM STAMP DUTY

No stamp duty is levied on section 8 or not for profit company.

FUNDING FROM FOREIGN INDIVIDUALS/INSTITUTIONS

Foreign individuals/institutions generally prefer NGOs that are registered under Companies Act, 2013 for funding. Therefore it is easy to get funding from foreign individuals/institutions if NGO is registered as section 8 company.

TAXATION BENEFITS

A section 8 company need not to pay any taxes if company is registered under section 12A of Income tax act 1961. It is mandatory to get registration under section 12A to get income tax exemption.

CORPORATE SOCIAL RESPONSIBILITY

Funds can be received from corporates under section 135 of companies act 2013 which obliged them to contribute certain percents of profits to social cause.

Process

Step 1

DRAFTING OF MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION .

Step 2

DRAFTING OF ESTIMATE OF FUTURE ANNUAL INCOME AND EXPENDITURE FOR THE NEXT THREE YEARS

Step 3

RESERVING UNIQUE NAME

Step 4

OBTAINING LICENSE FROM THE GOVERNMENT (FILING OF FORM INC 12).

Step 5

UPLOADING OF ALL THE DOCUMENTS ON MCA PORTAL FOR APPROVAL.

Frequently Asked Questions

Can an OPC be incorporated as Section 8 Company?

No, OPC can not be incorporated as Section 8 Company as per rule 3(6) of the Companies (Incorporation) Rules,2014.

Can section 8 Companies be a holding company of another company?

Yes, section 8 company can promote another company and be a holding company of other company.

Whether foreign company can be registered as a section 8 company in India?

Yes, Foreign company can be registered as distinct entity.

Is it mandatory that the name of section 8 Company shall include the words like – Foundation, forum, association,federation, chamber, confederation, Council, electoral trust etc.?

Yes. As per rule 8(7) of the Companies (Incorporation) Rules,2014, for the Companies under Section 8 of the Act, the name shall include the words foundation,Forum,Association,Federation, Chambers, Confederation, council, Electoral trust and the like etc.

Whether a trust/Co-operative society/LLP/Firm can be a subscriber/member of Section 8 Company?

There is no restriction in the act to become member of section 8 company for a trust/co-operative society/LLP/Firm.

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