Section 8 Company Incorporation
A company with tax benefits
Overview
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FAQ
Frequently asked questions.
Following factors are to be considered while registering Section 8 Company:-
The Company may be registered as a company limited by shares or by Guarantee and not with unlimited liabilities.
- It can be a holding company of another company and can promote another company.
- The company cannot be amalgamated with a company that is not a Section 8 company.
- There must be atleast 1 meeting within every six-calendar month.
- Non-applicability of Section 149(1), Section 178 of Companies Act, 2013
- Secretarial Standards are not applicable.
- No proxy by the members.
No Minimum Capital
In section 8 company registration, there is no minimum capital criteria.
Avail Tax Benefits
Various tax exemptions and compensations are provided to the company as well as to the donors who are contributing to Section 8 Company.
Exempted From Payment Of Stamp Duty
No stamp duty is required on the Section 8 Company registration as the company is exempted from the payment of stamp duty applicable for registration.
Separate Legal Identity
Section 8 Company has a separate legal entity as private/public company and has a distinct legal personality from its member.
Credibility
Section 8 Company has more credibility as compared to any other form of a charitable organization.
Transfer Of Ownership
Members of Section 8 Company members can easily transfer the ownership of the company.
Section 8 companies are required to comply with the Annual Docility as per the Companies Act 2013-
- Two board meetings in a year
- Preservation of Books of accounts
- Compulsory audit.
- Income tax return filing.
- Filing AOC-4 and MGT-7
- Registering for 12AB.
- Adoption of financial statement.
