Section 08 Company Registration In Gujarat
Online Chartered can help you register section 08 company in very convenient way. Apart from this, all the ancillary jobs requires to be done while incorporating company will be well taken care off. After incorporation, We can also help you get 12AA certificate and 80G certificate to avail tax benefit under Income tax act.
Ask us to know more
Meaning of section 08 company
Any individual or an organization who wants to run charitable activities on a larger scale can do so by forming a trust, society or section 08 company. Section 08 Company Registration is a legal way of doing charitable or recreational activities under the format of company which is governed by Section 08 of the companies act 2013 (section 25 of companies act 1956). This format of company is strictly formed for the objects as mentioned under the companies act. Any activities which deviates from its charitable object clause will lead to closure of the company. Thus, this format of company can be formed for any objects as mentioned below.
What are the objects for which section 08 company can be formed?
A Section 8 company can be established for the “promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object. The Act further states that a Section 8 company can purse the above objects subject to the condition that it “intends to apply its profits, if any, or other income in promoting its objects” and “intends to prohibit the payment of any dividend to its members.
benefits of Registering Section 08 Company
Transparent business: Any non profit organization requires a transparent way of doing business so as to grab more contribution and charity from public at large. Any mis management in such organizations leads to so many suspicions in the eyes of donors as well as governments. Thus, It is always advisable to run charitable institutions in the form of section 08 company registration.
Image building: organizations which are formed as section 08 company builds reputed impression in the public at large because of its regular and transparent way of running company. It enable them to acquire more contributions from donors to achieve their charitable purpose. Some of such charitable institutions got global recognition as well.
Govt grants and subsidies: A well organized charitable institution get the opportunity to be noticed by government for grants and other subsidies. This will enable the management of the company to run the charitable activities in very smooth way and hassle free way.
What is income tax implications on Section 08 Company Registration
Documents for incorporation of Section 08 Company Registration
- Directors PAN Card or Passport (Foreign Nationals & NRIs)
- Directors Voter’s ID/Passport/Driver’s License
- Directors Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Directors Passport-size Photograph
- Directors digital signature
- For registered office of company, Notarized Rental Agreement in English along with Latest Bank –Statement/Telephone or Mobile Bill/Electricity or Gas Bill
Get all your queries solved here
There is no minimum requirement of number of members in section 08 company.
A Section 8 company can be established for the “promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object. The Act further states that a Section 8 company can purse the above objects subject to the condition that it “intends to apply its profits, if any, or other income in promoting its objects” and “intends to prohibit the payment of any dividend to its members.
Yes, A firm can be member in section 08 company.
after incorporation, you need to avail 12AA and 80G certificates to avail tax benefits.
No
