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Section 8 Company registration or Section 25 Company registration is a company registered for charitable purpose. Venture Care can help you register a Section 8 Company in India.\n

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step to start a section 8 company in india

STEP TO START A SECTION 8

COMPANY IN INDIA| VENTURE CARE

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As oneof thelargest markets in the world,India has a vast trade and commercial domain. However makingprofittsthrough trade andcommerceis not theonlyfactorwhich is prominent in theIndian market.India as a hugecountrylacks behind in sectors like education, employment, health care, food,and safety,etc. Ourgovernmentis under alotof pressure to ameliorate the conditions within the national legislation. Thecentral governmentcannot address each and every issuesimultaneouslyandthis creates aspace forspecificorganizations which assist the government workingforthe well-beingof society.Such organizations areknown as Non-profit organizations or non-government organizations.

A Non-profit organization can beregisteredas a Companyunder Section 8ofthe Companies Act, 2013.It canalso be registered as Trust oraSociety. Section 8 companycan beincorporated forpromotion of commerce, art, science, sports, education, research, socialwelfare, religion, charity, protection of environment or anysuchother object, provided itintends to applyits profits, if any, or otherincome in promotingits objects and intends to prohibit thepayment of anydividend to its members.

PROS OF SECTION 8 COMPANY

NO MINIMUM PAID UP CAPITAL REQUIREMENT: As per Companies Act, 2013 unlike private and public limited companies, Section 8 Company do not require any minimum capital contribution for incorporation. They can commence there business without any share capital. The fund required for business can be brought in the form of donation and subscription from public and members of the Company.

TAXDEDUCTION: SinceSection 8 Companiesarenon-profit makingcompanies theyare exempted from certain income taxprovisions. Theyarealsogiven numerous deductions and benefits.Individual DonatingMoneyin Section 8companies also availthe benefits of deduction under Section 80G ofincomeTaxAct, 1961.

NO NEED TO USE TITLE : Unlike Private Limited company which uses ‘Private Limited’ as

title after its name, Section 8 Company is not required to add any sufix or title to its name.

NO STAMP DUTY PAYABLE: A section 8 Company is exempted for the payment of stamp duty applicable for registration as applicable in case of other structures such as private limited or a public limited company.

CREDIBLE: A Section 8 Companyhas more credibility as compared to any other Non-profit organization structure be it a Trust or Society. As it is a licensed by the central government. It has more stringent regulations such as no change in MOA and AOA can be done at any stage or situation in a Section 8 Company. A section 8 company due its strict compliances as regard to functioning has a more reliable image in comparison to other legal structures.

POINT TO BE KEPT IN MIND BEFORE REGISTERING SECTION 8 COMPANIES:

A. Decide regarding the proposed name to be applied, objects to be carried by the

Company, authorized capital.

B. Nameof Section 8 Companyshall includethe wordsFoundation,Forum, Association, Federation, Chambers, Confederation,Council, Electoral trust and the like words.

c it should intend to apply its profits

C. It should intend to apply its profits, if any or other income in promoting its objects.

D. It should intend to prohibit the payment of dividend to its members.

E. A partnership firm is allowed to be a member of the Section 8 Company

MINIMUM REQUIREMENTS FOR SECTION-8 COMPANY:

A. At least two shareholders

B. Minimum two directors

C. Shareholders and Directors could be same.

D. At least one Director should be Indian resident

E. There is no minimum capital required.

F. Registered Office Address Proof (Rent agreement if the premises is not owned by the company)

G. Documents claiming the ownership such as Sale Deed or House Tax receipt along with an

NOC.

PROCEDURE FOR INCORPORATION OF SECTION-8 COMPANY:

A. Get Digital Signature Certificate (DSC) of all members.

B. Get Director Identification number (DIN) of all Directors by using DSC.

C. Suggest at least Six Company name. We will do search for name availability.

D. Apply to ROC for name approval.

E. Once name is approved by ROC File application to Central Government in Form INC -12 for grant of License to start Section 8 Company.

F. Once Central Government issues License file Incorporation document with ROC like MOA AOA Consent of Director, Affidavit and declaration from directors etc.

G. OnceIncorporation form is approved byROC,ROC shall issue Certificate ofIncorporation with PAN and TAN No.

Requirement to Apply for DSC:

All members should have DSC

1. Pan Card Self Attested

2. Residential Proof Self Attested

3. Dully fill and sign DSC application form.

requirement to apply for din minimum

Requirement to Apply for DIN: (Minimum Two Directors are required)

1. Photograph of the Applicant – To be Self-attested.

2. PAN – To be Self-attested

3. Mobile No.

4. Email id.

5. Educational Qualification

6. Occupation

7. Proof of residence of applicant

8. Address proofs likepassport, election (voteridentity) card, ration card, drivinglicence, electricitybill, telephonebill or bank account statement shallbe attachedand should be in the name of applicant ( shallnot be laterthan 2 months).

9. DSC of Individual.

Requirement to Apply for Name Availability:

1. Six Proposed name with significance of Name

2. Authorized Capital- Optional

3. Jurisdiction of Registrar of Companies.

4. Main Object to be pursued by Company

Requirement to Apply for Central Government License of Section 8Company:

1. Draft MOA & AOA

2. INC -15 Declaration by each subscriber (On Non- judicial stamp paper of Rs. 100/- and duly notarized).

3. Affidavit by each subscriber regarding non disqualification (On Non- judicial stamp paper of

Rs. 100/- and duly notarized).

4. Declaration by each subscriber regarding non acceptance of Public deposit (On Non- judicial stamp paper of Rs. 100/- and duly notarized).

5. Consent from all Directors in DIR- 2

6. Estimated statement of Income & Expenditure for Next three years and it should be signed the proposed Promoters.

7. Estimated Balance Sheet for Next three years and it should be signed the proposed Promoters.

8 list of proposed promoters and directors

8. List of proposed Promoters and Directors of the Company

9. Statement of ground on which application is made.

Requirement to Apply for Incorporation of Section 8Company:

1. Registered office address of Company.

2. Recent Address proof with NOC from Owner.

TIME PERIOD:

Time Required for Incorporation of Section 8 CompanyShall be 30-60 days, depending on

government approval.

REGISTRATION OF COMPANY UNDER SECTION 12A AND 80G OF INCOME TAX ACT.

Income of an organization is exempted if NGO has 12-A registration. This is one time

registration.

If an organization has obtained certification under section 80-G of Income Tax Act then donors of that NGO can claim exemption from Income Tax.

Application for registration under section 12A and 80G can be applied just after registration of the NGO.It can be applied to the Commissioner of Income Tax (Exemption) having jurisdiction over the institution.

Both applications can beapplied together orit canbe also applied separately.Ifsome organization is willingto applyboth applications separately, then application for registration u/s

12A will be applied first. Getting 12A registration must for applying application for registration u/s 80G of Income Tax Act.

c ontact us head office india

Contact Us:

Head Office (India)

Sr.No-29,Ajikyatara,kalaniketan, VentureCare

Bank, 3031AVRotterdam,(NL) Pune,Maharashtra411043(IN)

Phone: (020)-65 3636 33

VentureCare Branch Office(Netherlands)

Dhankawadi, Near Rajshri Shahu Jonker Fransstraat46,

Phone:+31 614 575 275