Section 8 Company Compliance - Overview
The purpose of forming Section 8 Company is to promote, encourage, and nourish activities related to art, science, sports, commerce, charitable activities, etc
The Companies Act, 2013 has made it mandatory for all the Section 8 Company Companies to adhere to Section 8 Compliance with the MCA (Ministry of Corporate Affairs). The main aim to start Section 8 Company is to encourage, promote, and nourish the activities related to science, art, sports, charitable activities, commerce etc. Section 8 Company can be categorized as a Non-Governmental Organization. These companies enjoy the liberty of being treated as Limited Company , though, word Limited is not added at the end of their names
Benefits of Section 8 Company Compliance
Gives company a better credibility
Protects the company from any legal trouble
Help the company in circumventing penalties
Work in the direction of forming trust amongst the customers
Documents Required For Registration
- DSC or Digital Signature Certificate
- Memorandum of Association of the company
- Article of Association of the company
- Certificate of Incorporation of Section 8 Company
Process To Register
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List of mandatory Section 8 company compliances
- Appointment of Auditor
- Maintaining Registers
- Maintenance of Financial Statements
- Preparing Directors Report
- Income Tax Return Filing
- Conduct Board Meeting
- Conduct Annual General Meeting
- Filing of Financial Return with RoC
- Filing of Annual Return with RoC
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