What is a Section 8 Company?
A not-for-profit company formed for charitable, social, educational, or similar purposes.
Promoters Are Called:
- Members
- Directors
Structure Requirements
- Minimum Directors: 2 (private type) / 3 (public type)
- Minimum Members: 2 or 7
- Capital: No minimum
NRI / Foreign Participation
- Allowed subject to FCRA if receiving foreign donations.
Meetings
- AGM required annually
- Board Meetings
Dividend
- No dividend permitted.
Remuneration
- Directors may receive remuneration subject to restrictions.
Audit
- Mandatory annually.
Tax
- Can apply for 12A and 80G exemption.
Formation of Section 8 Company
Core Services
- ●
Name Approval - ●
DSC for all Directors - ●
MOA & AOA Drafting - ●
DIN for Directors - ●
Application Preparation - ●
Attestation by Professionals (CA/CS/CMA) - ●
PAN & TAN & Certificate of Incorporation (CIN)
Optional Services
- ●
GST Registration - ●
Bank Account Opening Assistance - ●
Appointment of Auditor - ●
Initial Compliance Filing - ●
Training on Compliance - ●
Accounting - ●
Company Secretarial Services - ●
GST Filing - ●
Monthly Compliances - ●
Annual Income Tax Filing - ●
Annual MCA Filing - ●
Annual Audit/Tax Audit/GST Audit Facilitation - ●
Virtual CFO Services - ●
Office Space/Co-Working Facility