Section 8 company Registration

Section 8 company Registration - Overview

Section 8 Company Registration Online in India is the method of enrollment of an NGO under the 'Companies Act 2013'. Any company that registered under section 8 can promote 'Charity', 'Art', 'Science', 'Education', 'Technology', 'Commerce', 'Sports', 'Social Research', 'Social Welfare', 'Religion', and 'Protection of surroundings or Environment' and so on

Key points regarding the Section 8 Company

NGO can be registered under the Registrar of Societies or a Non-profit entity under the Section 8 Company of the Company Act, 2013.
The profit generated by the section 8 companies cannot be utilized to fulfilled objectives other than charitable purposes. Further, such profit cannot be allocated to the shareholders.
A section 8 company is similar to the Section 25 Company under the erstwhile Company Act, 1956. As per the prevailing company Act, Section 15 companies are now acknowledged as Section 8.
A Section 8 entity is bound to comply with the provisions of the Companies Act, 2013. In view of this, these entities are mandated to administer the books of account, file returns with ROCs.
Such companies have no right to alter the charter documents like AOA and MOA without the government's consent. Further, they are also required to comply with the GST laws and IT Act.

Advantages of Section 8 Company Registration

Separate Legal Identity
No Least Capital
No Stamp Duty
Credibility
Exclusion To The Donators
Tax reductions