Section 8 Company or Not for Profit Organizations

Section 8 Company/ Not Profit Organization is a type of company/ organization that is registered under the Companies Act, 2013. The main purpose of this type of organization is to promote art, science, commerce, charity or any other useful object. This type of company/ organization has certain benefits such as limited liability and perpetual succession. It also enjoys certain tax benefits and exemption from certain compliances under the Companies Act, 2013. Incorporating a Section 8 Company/ Not Profit Organization requires proper documentation and registration with the Registrar of Companies (ROC). The incorporation process includes filing for name availability, drafting the Memorandum of Association (MOA) and Articles of Association (AOA), obtaining Digital Signature Certificates (DSC) and Director Identification Number (DIN), etc. Once all these steps are completed successfully, the company can commence its activities.

Checklist For Name Availability & Company Incorporation Of Section 8

The Company representative is required to fill in the following:

S.NO

INFORMATION REQUIRED

RESPONSES

1

Please provide name of proposed company.

  • Names to include one word which defines the object of the Company

2.

State the significance of the key or coined word(s), if any, in the proposed name(s) (in brief)

3

Please provide names of individuals who would be Directors in the Company, 2 for Section 8 company.

4.

DIN of proposed Directors (DIN-Director Identification Number)
*Please mention the DIN numbers and their names as per records if already have.

 

5.

Please provide names of entities/individuals who would subscribe to shares of the Company and the number of shares each of them would subscribe, minimum 2 for a section 8 company.

6.

Please provide the address of the registered office

 

7.

Please indicate the authorized capital of the company, ie., Can be Rs.1 Lakh but not mandatory.

Authorized share capital is Rs.
Paid up capital is Rs.

8.

Nominated Director for signing all documents, to be one of the individuals mentioned in #2, digital signature to be applied for the proposed Director

If already have DSC not required to apply.

9.

List of objects i.e. description of business that will be carried out in India. This information would be used in drafting the Memorandum of Association

 

10.

Any issues that need specific attention in running of the company to be included in the articles of association

 

11.

Education qualification of all directors

 

12.

Mobile numbers of all the directors

 

13.

Email id’s of All the directors

 

 

14.

Since how long Directors are residing in the given address proof

 

15.

- PAN – Mandatory
ID Proof:
- Passport/Driving License/Voter id – Any one mandatory.

Address Proof:
- Bank statement latest – Mandatory Not older than a Month
- Mobile Bill – Latest – Not older than a month.

Remarks: If Directors have DIN only PAN and Adhaar would be sufficient.

16.

Whether registered office address owned by the Director- If yes NOC and utility bill need to be provided else rental agreement need to be provided along with NOC and utility bill- to be signed by the owner of the premises

 

17.

2 in photographs of all the directors and subscribers

 

18.

Email address of the company

 

19.

Phone number of the company

 

20.

No.of shares to be subscribed by the each Director

 

21.

Passport size photos of all the subscribers

 

22.

5 Years Projections

We will help you on this

Other Needed registration for Section 8 Company:

Section 8 companies or Not for Profit Organizations in India can apply for 12A and 80G registration to avail of tax exemptions on their income and donations received. Here are the details of each registration:

12A Registration : Section 8 companies can apply for 12A registration, which provides exemption from paying income tax on their surplus income or income generated from their charitable activities. This registration is valid for perpetuity, and the company must apply for it within one year of its incorporation.

Check list for getting registration for 12A and 80G:

  • (3 main members of KYC)
  • Aadhar Cards
  • Pan cards
  • Email Id or Phone Number
  • Certificate of Incorporation
  • PAN of the Entity
  • MOA & AOA - All the documents needs to be signed by minimum 2 Directors along with company seal.
 
     
4778 Times Visited