How to Obtain Section 8 Company Certification in 2024?
According to the Companies Act, 2013, Section 8 company registration refers to a corporation that aims to incentivize sciences, sports, arts, education, environment, preservation, charity, social welfare, or others.
For Section 8 company registration entities, two directors and two subscribers are required. There is no compulsion for minimum paid-up capital to set up a company. The objective is non-profit, and for public warfare, the government does not charge heavily.
In this article, you will explore the Section 8 company registration process and consultants who will help you and guide you in Section 8 company certification.
Documents Required:
For name availability:
- The proposed name (use of the words foundation, association, etc is mandatory for section 8 company)
- main objects of the company
For SPICE + form - Application for Incorporation Certificate:
- (MOA) Memorandum of Association if not submitted as Linked Filing in INC-13
- (AOA) Articles of Association, if not submitted as linked to filling in INC-31
- PAN of the subscribers to the Memorandum ( 1st company’s director)
- Proof of ID and address of the subscribers to the Memorandum.
- Notarized Rent Agreement of the Registered Office.
- NOC from the owner to use premises.
- The utility bill of the premises is not older than the last 2 months.
- Declaration under the form INC 15 from all the directors, which is included in INC-9
- A declaration under the form INC 14 by the Chartered Accountant is included in the Spice + Form as a declaration.
Process for Section 8 Company Registration:
- Select Section 8 company goals
- Acquire DIN and DSC
- Approval of Company Name under section 8
- File for a Section 8 Company License
- Submit a Section 8 Company Registration Application
- The Certificate of Incorporation is issued.
How Do You Start a Section-8 Company?
Secure DSC from the MCA-authorized agencies. A Spice + Form shall be filled by the MCA portal. The mandatory documents and forms will be submitted. The documents will be submitted with the fee.
Benefits of Section 8 Company Certification
- The section 8 companies registered are available or have the access of 100% tax exemption u/s 12 AA of the IT Act.
- Section 8 has no limitations on entities pertaining to minimum capital requirements, unlike other companies.
- It is not liable to pay stamp duty for registration.
- A Section 8 company holds its own legal identity just as other companies and rejoices autonomous legal standing from its members.
- It is also more credible in terms of compliance and legal standing.
- During the registration procedure, Section 8 firms have the opportunity to select the name that best meets their needs.
Conclusion
In conclusion, the Section 8 company registration process can be complex and confusing. Take the guidance of experts such as JR Compliance, who can guide and educate you at every step. From documentation to Section 8 company certification, the consultant will lead you through a hassle-free process. For more information, contact us today.
