paisabiz

Section-8 Company

A Section 8 company under the Companies Act, 2013 or a Section 25 Company according to the Companies Act,1956, is an organization registered to promote the science, fine arts, literature, or know-how sharing for a determined matter or charity. These are limited companies as per the Companies Act. The Government endows these companies with a proper license under Section 8 Companies Act 2013. There are three primary conditions for granting the license.

The Company should generate for charitable purposes.
Profits and income must be employed towards these objects.
The Company must not pay any dividend to its members.
It has accurate operations and outstanding flexibility.
Prevents complicated registration procedure and no physical presence needed.
No prerequisite of a minimum paid-up capital.
Flawless procurement of tax advantages under sections 80G and 12AA of the Income Tax Act.
Any partnership company can be a member in its capacity and get a Directorship.
Handled by: Companies Act, 2013.
Members: Minimum of 2 Shareholders/Directors.
Important Documents: AoA, MoA, and financial statements.
Board: Directors.
Property management: The property of every company must be authorised in its name. These can be vented in compliance with the provisions stated in the Companies Act 2013. The Act articulates the sale with the preceding consent of the Company Board of Directors, granted by passing a resolution.
Shutting down or winding up: The funds and property of the society, during its termination(according to the society by-laws) and settlement of every liability and debt, might not be uniformly distributed among the company members. Rather, the same can be distributed to some other company with the same objects.
Yearly compliance: The Company should ensure its yearly compliance while filing its annual returns and accounts with the RoC.

Private Limited Company Registration

The registration of a Company is quite a tedious process and requires a lot of formalities. A private limited company registration follows a series of steps mentioned below.

Obtain Digital Signature Certificate (DSC)

For private limited company registration, the DSC must agree with all subscribers and witnesses in the Memorandum Of Association (MOA) & Articles of Association (AOA). In Online company registration, the forms require a digital signature.

Apply For DIN (Director Identification Number)

We also accept DINs by anyone who aspires to be the company’s director for private limited company registration.

Name Approval

Name of the business must be unique for Pvt ltd company registration in India.

Form SPICe+ (INC-32)

Since 23 February 2020, the MCA has introduced SPICe+ for Pvt ltd company registration in India. SPICe+ form enables web-based incorporation and serves the following purposes with the benefit of a single application.

e-MoA(INC-33) and e-AoA (INC-34)

Memorandum represents the status of the company, and articles of association contain the internal rules and regulations for the company. Earlier the filing of this form was physical, but now it is an online procedure which makes Pvt ltd company registration in India easier.

PAN & TAN Application

Forms are auto-generated after the successful submission of the SPICe+ form. The Certificate of Incorporation of PLC takes effect after approval of the SPICe+ Form. The Income Tax Department will issue the PAN card. After completing the form, MCA will approve the registration means a CIN (Corporate Identity Number) will give.

Private Limited Company Registration

The registration of a Company is quite a tedious process and requires a lot of formalities. A private limited company registration follows a series of steps mentioned below.

Obtain Digital Signature Certificate (DSC)

For private limited company registration, the DSC must agree with all subscribers and witnesses in the Memorandum Of Association (MOA) & Articles of Association (AOA). In Online company registration, the forms require a digital signature.

Apply For DIN (Director Identification Number)

We also accept DINs by anyone who aspires to be the company’s director for private limited company registration.

Name Approval

Name of the business must be unique for Pvt ltd company registration in India.

Form SPICe+ (INC-32)

Since 23 February 2020, the MCA has introduced SPICe+ for Pvt ltd company registration in India. SPICe+ form enables web-based incorporation and serves the following purposes with the benefit of a single application.

e-MoA(INC-33) and e-AoA (INC-34)

Memorandum represents the status of the company, and articles of association contain the internal rules and regulations for the company. Earlier the filing of this form was physical, but now it is an online procedure which makes Pvt ltd company registration in India easier.

PAN & TAN Application

Forms are auto-generated after the successful submission of the SPICe+ form. The Certificate of Incorporation of PLC takes effect after approval of the SPICe+ Form. The Income Tax Department will issue the PAN card. After completing the form, MCA will approve the registration means a CIN (Corporate Identity Number) will give.

Section 8 Ngo Registration Online- An In-Depth Procedure

There are three main steps required for forming a section 8 company besides collecting, preparing, and drafting the documents. These are as under:

01.

Run Consent

  • Reserve Unique Name (RUN) is a form for reserving a name for a novel company or for changing its current name. This aspect is the first step of incorporating a section 8 ngo registration online.
  • A section 8 company will generally have words such as Society, Federation, Club, Charities, Council, Academy, Institute, Organisation, Foundation, Chamber of Commerce, Federation, Development, Association, etc.
  • The name, when approved will be valid for 20 days.
02.

RD 1 License

  • This step is the most significant in the process of section 8 ngo registration online.
  • The name approval will be valid during the time of application for the RD 1 License.
  • RD 1 license is a license granted under section 8 of companies act as they work on a particular objective which is for the upscale of commerce, science, arts, environment, etc., and the profit they earn will be used towards their goals. All important documents, such as the AoA, MoA, financial statements, and other declarations, are filed at this phase.
  • The license approved will be valid for 30 days.
03.

Spice Form

  • Both the license and the name will be valid at the time of completing the SPICe form.
  • This is the last stage of integrating the section 8 ngo registration online, where the documents applicable to the registered office, such as the utility bills and rental agreements, are filed along with the name approval certificate and RD-1 license.

Essential Documents For Section 8 Company Registration Online

DIN and DSC of the Directors.
Motives and planned work of the Company.
Financial statements such as liabilities and assets, the outcrop for five years, etc.
Directors personal documents.
Registered office address documents, namely sale deed or rental agreement in the Company's name, utility bills not older than two months.

FAQ's

Few doubts important to be resolved quickly

A minimum of two people are needed for section 8 company registration.

The Director must be 18 years of age and should be a natural person. There are no restrictions in terms of residency or citizenship. Thus, also foreign nationals can go ahead to be Directors in an Indian Section 8 Company.

An address where the company’s registered office will be situated is needed. The premises can be industrial/commercial/ /residential, where communication from the MCA will be acquired.

No, you will not have to be there at our office or show up at any office for the ngo registration online. Every document will be scanned and then sent via email to our office. A few documents will also be couriered to our office.

Identity and address proof are obligatory for every proposed Director of the Section 8 Company. PAN Card is obligatory for Indian Nationals. Additionally, the landlord of the registered office premises should give a No Objection Certificate for having the registered office in their premises and provide their address and identity proof.

PaisaBiz can integrate a Section 8 Company for in 20-30 days. The time for Section 8 company registration will rely on the submission of documents by the client and the pace of Government approvals. To ensure quick registration, please select a unique name for your Company and make sure you have all the important documents before beginning the ngo registration online procedure.

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