What is a Charitable Co.?
Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to a established 'for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object', provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes.
A Section 8 Company is similar to a Trust or Society; expect a section 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.
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- 2 Director Identification Number (DIN)
- 2 Digital Signature Certificate (DSC)
- 1 RUN Application
- MOA Drafting
- AOA Drafting
- PAN Application
- TAN Application
- Corporate Identification Number (CIN)
- All expenses and Government Fee
- DSC & DIN for additional directors at extra cost.
- Registration under 80G & 20AA
- PAN Card & Aadhar Card of Directors – Mandatory
- Passport Size Photo (In Jpeg Format) of directors.
- Proof of Residence of Directors. (Telephone Bill, Electricity Bill, Mobile Bill, Bank Statement, etc.)
- Proof of registered office address in India (Electricity Bill, Telephone Bill, Maintenance Receipt (Rent Agreement if place taken on rent)
- NOC from the owner of the registered office address. (If place on Rent)