What Is Sec 8 Company?
A Section 8 Company is a non-profit organization that aims to promote charitable activities, art, science, education, and sports. The profits of such companies are utilized for promoting these objectives and are not distributed among the Company's members. At IndiaFilings, we provide end-to-end services for registering Section 8 companies in India. Our team of experts offers hassle-free and professional services to help you establish a Section 8 company quickly and efficiently. Contact us today to avail of our professional services for registering your Section 8 Company in India. According to the Companies Act 2013, a Section 8 company is defined as an organization whose objectives are to promote arts, commerce, science, research, education, sports, charity, social welfare, religion, environmental protection, or other similar activities goals. These entities utilize their profits to achieve their mission and do not distribute dividends to their shareholders.
Benefits of Section 8 Company?
Section 8 Companies in India, also known as not-for-profit companies, offer several compelling benefits for organizations focused on promoting charitable or social causes. One of the most significant advantages is the ability to operate without the primary objective of profit-making, making them ideal for charitable, educational, scientific, or artistic pursuits. These companies enjoy tax exemptions on their income and donations, which can significantly enhance their financial resources for philanthropic work. Section 8 Companies are legally recognized entities, providing credibility and trustworthiness to donors, partners, and stakeholders. They are subject to less stringent compliance requirements compared to other corporate entities, simplifying administrative burdens. Additionally, Section 8 Companies can receive foreign contributions, fostering international collaborations and resources for social initiatives. Overall, this legal structure encourages and facilitates charitable work and social impact, making Section 8 Companies a vital part of India's nonprofit sector.
Document Required
- PAN card or passport
- Rental agreement / Sale deed / NOC
- Address proof of directors - Aadhar card/ voter’s ID/ Passport/ Driving license
- Latest Bank Statement/ Telephone Bill/ Mobile Bill/ electricity bill/ gas bill
- Company Name (Minimum 3)
- Object of Company
- Shareholding of Each Director
- Passport-sized photograph
- Blank document with specimen signature.
- Education Qualification
- Birth Palace
- Mobile No & Email ID