WHAT IS SECTION 8 COMPANY?
It is a company registered under Company Act, 2013 to promote 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.
ADVANTAGES OF SECTION 8 COMPANY
- Easy to form
- Minimum capital
- Less compliances
- Income tax exemption if registered under section 12A of Income Tax Act
DETAILS/DOCUMENTS FOR SECTION 8 COMPANY
- Proposed name of company
- Objectives of company
- Pan card, Aadhar card and latest bank statement (at least 15 days ) of all members
- Minimum 2 person
- Latest electricity bill of registered office of company
- Digital Signature
- Mobile & Email of all members
- Education, occupation and duration of stay at present address of all members