Section 8 Company Registration in Jaipur
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Introduction of Section 8 Registration
In terms of the Companies Act, 2013, Section 8 Company refers to a company that aims to promote the arts, science, sports, education, conservation, social welfare, charities, or other similar purposes.
The Section 8 Company is affiliated with those who intend to use their revenue and profits to advertise their products and prevent payment of dividends to its members. The Section 8 Company may be classified as a Private or Public Company.
Section 8 companies are similar to a Society or Trust as they are registered under the laws of the State Government while a Section 8 Company is registered under the “Ministry of Corporate Affairs (MCA)” of the Central Government.
Advantages of Section 8 Registration
Limited Liability
Members' liability is limited by the amount they have invested in the Company and therefore, they are not liable in any way and are a legal entity which means that they are different from their Members and directors.
Benefits of Donors
Contributors under Section 8 Company are entitled to greater tax benefits under Section 12A and deduction under 80G of the Income Tax Act, 1961.
No capital required
To consolidate a Section 8 Company no minimum capital is required and the cash structure can be adjusted according to the Company's growth needs over time.
Tax Benefits
Many tax benefits and rebates are provided to Section 8 Companies under the Income Tax Act, 1961.
Firms can also be members
Another benefit of incorporating Section 8 Company is that firms can be a part of it by subscribing shares in the Company.
Less Compliance
Section 8 Companies are not required to engage in complex procedural compliance under the Companies Act, 2013 but to be carefully supervised under the Companies Act, 2013.
Minimum requirements
Minimum Two Directors and a maximum of fifteen
Minimum of two Members
Digital Signatures for Subscribers and Directors
No minimum capital requirement
Director Identification number if available
Non-profit purpose i.e. something that gives to the poor
Checklist of documents required
PAN card of all members and directors
In the case of Foreign Nationals, the passport is required
Identity Proof of Members and Directors (Aadhar/Voter ID/Driver's License/Passport)
Proof of Address of Members and Directors
(Service Bill/Telephone Bill/Mobile Bill/Bank statement not exceeding two months)
A recent photograph of members and directors
Proof of Business Address owned property
(Copy of Registration and Recent Electricity Bill or Government Water Bill)
Proof of Business Address Rented/ leased
Lease Agreement, NOC from Owner, Recent Government Electricity Bill or Water Bill)
Note: - In the event of an NRI or a National Registry of Directors and Registrars it should be in writing or submitted by Apostilled.
Process to apply for a Section 8 Company Registration
Complete an application form
You are requested to first complete the simple questionnaire provided by our expert team.
Processing of documents
In the second step, we will need the documents following the questionnaire completed by you so that we can organize them as required and for processing. Document checklist will be provided by the type of business chosen.
DSC application
First of all the DSC (Digital Signature Certificate that includes E-signatures) needs to be fixed. This step can be ignored if it is already fixed. It will take about 1-2 days.
Availability of Name
Now the availability of the name is checked. The name must be different in nature and should not be the same as the name of any other registered organization. It requires a minimum of 1-2 days.
Company E-filing Installation
Once the name is approved, an online application is required to be submitted via SPICE + and the required documentation as received above must be submitted to the ROC. The MOA and AOA will be carefully documented thus keeping in mind the main objective of the Section-8 Company. This process also takes 2-3 days.
Obtain an Incorporation Certificate
Finally, upon the approval the Section 8 Incorporation Certificate and License will be issued with an email indicating that the Company is registered.
How Paravue Advisors help you to achieve your dream startup?
We at Paravue Advisors guarantee a high level of satisfaction and timely delivery of your firm registration with better response to government needs through our professionals. You can contact our team on 099504-51000 or send an email to infoparavueadvisors@gmail.com for Section 8 Company Registration in Jaipur
Establish your entity in just 3 simple stages-
- Fill out the questionnaire which would take less than 10 minutes.
- Provide the documents required
- Prepare accurate documentation
- Verification and processing time
- Government processing time
*Affected by Government processing term
Why you should choose Paravue Advisors for your assistance?
Expertise guidance
We will help you from picking up a suitable registration to getting your registration certificate. Our experts give you expert guidance on many of the processes involved in registering your business as a sole proprietorship, as well as service tax registration, sales tax, import/export code, and professional tax.
Filing Application
The professionals to assist you in the application are well-executed and can manage native registrations.
Registration Receipt
Our team will provide full assistance with the registration process. This can vary between 5 and 15 days, depending on the work done by the authorities involved.
FAQs on Section 8 Company Registration