What do you understand by the term NGO / Section 8 Company?
Main motto behind establishment of any Non Profit Organization registered as Section 8 Company is to promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object. This promotional clause is derived by Section 8 of the Companies Act, 2013 and thus all such organizations that are planning to register themselves for such promotional activities are known as NGO / Section 8 Company. These companies are registered with true purpose of charity or not-for-profit. Profits earned or any other income generated by such companies is used only to promote the objects of company and they should not pay any dividend or distribute any profit among its members. Central Government’s Ministry of Corporate Affairs regulates NGO / Section 8 Companies whereas Charitable Trusts or Societies are regulated by State Government.
Contact us now and get your NGO / Section 8 Company registered through hassle-free, cost effective and quick way.
Which Basic Documents are Required to Start a NGO / Section 8 Company?
Following documents are needed to register your NGO / Section 8 Company:
- ⦁ Details of Directors (Name, Address, Age, etc)
- ⦁ Digital Signature Certificate (DSC) of Director
- ⦁ Director Identification Number (DIN) of Director
- ⦁ Valid ID proofs for members (Aadhar Card, Passport, Voter ID)
- ⦁ Passport size Photographs of Directors and Members
- ⦁ Memorandum of Association (MOA)
- ⦁ Articles of Association (AOA)
Process of NGO / Section 8 Company Registration
- ⦁ Choose directors and Fill form 8.
- ⦁ Apply for Digital Signature Certificate (DSC) and Director Identification Number (DIN)
- ⦁ Submit all legal documents and Select a name for your company.
- ⦁ We will file all your documents along with section 8 form.
- ⦁ Receive certificate of incorporation
Investment:
- 21000*
Professional fees
Advantages of NGO / Section 8 Company
All section NGO / Section 8 companies are exempted from some provision of income tax act. They are given numerous other deductions and benefits like less stamp duty, tax benefits under section 80 G of the income tax act, 1961 and other tax benefits.
To register companies as public ltd or private ltd or LLP or OPC requires much share capital whereas to register NGO / Section 8 Company very less share capital is required as compare to other company registration options.
All other companies need to use ‘Limited Company’ as suffix to their company name at the time of registration but for NGO / Section 8 companies there is no need to use any such suffixes. Thus these companies can hide their limited liability status from public.
The Companies Act, 2013 allowed NGO / Section 8 Company to transfer its ownership or transfer it as Pvt. Ltd Company.
NGO / Section 8 Company are considered as more credible as compare to any other non-profit company organization structure. Due to strict compliances and licensed by central government, NGO / Section 8 company has more reliable image.
