New Startup - Section 08 Company

Features of Section 08 Company

 

• It is same in nature of NGO/Trust but section 8 companies are having legal structure of Non Profit Organisation  (NPO) with authority to work across the country.

• NGO/Trust are registered under state government laws but Section 8 company registered under central government ministry of affairs.

• Company main objects and promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment.

• Profit of the company can be used only for promoting above object and no requirements to pay dividend to its members.

• Secton 8 companies do not require to use the words LTD and PVT LTD as suffix in the name of the company.

• No requirement of a minimum paid-up capital.

• Can avail tax benefits under section 12AA and 80G of the Income Tax Act.

• Limited liability

• Perpetual Succession

Document requirements for Incorporation

 

• Identity proof i.e. Aadhar/PAN Card/Passport

• Address Proof i.e. Voter's ID/Passport/Driver's License

• Address Proof of registered company i.e Rental Agreement/possession letter.

• Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill

• Photographs of all Directors.

• Specimen signature (blank document with signature [partners only])

• Trade Mark Registration if any

 

Incorporation of Section 08 Company

 

• Apply for DIN and DSCs

• Name reservation

• MOA, INC13 and AOA

• INC 15 Subscriber Delearation

• Income and Expenditure

• List of Directors of the company

• Preparation of INC 32

• Application along with INC 32 with ROC

• Approval and provide CIN along with PAN & TAN

 

 

How do you approach R2B?

 

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