Section 8 Company Registration is essential to encourage non-profitable goals.
Start-ups typically emerge when founders identify significant problems within existing companies or industries. These issues may range from inefficiencies in operations to unmet consumer needs or outdated services.
The formation of a start-up is driven by a combination of entrepreneurial vision and dissatisfaction with current solutions.
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Start-up company registration formalizes the establishment of the new venture. This process marks the beginning of a journey focused on growth and market penetration.
People contributing under the Section -8 Company are offered tremendous tax benefits under Section 12A and Deduction under 80G of the Income Tax Act, 1961.
Many tax benefits and rebates are offered to the Section-8 Companies under the Income Tax Act, 1961.
The liability of the Members is limited to the extent of Capital invested by them in the Company and therefore, they cannot be held personally liable for it and it is a legal entity which means it is different from its Members and Directors.
For incorporating a Section-8 Company no minimum capital is required and the capital structure may be altered in accordance with the growth requirements of the Company at later stage.
Section- 8 Companies are not required to involve in much complicated compliances under the Companies Act, 2013 but are closely monitored under the Companies Act, 2013.
Another benefit of incorporating a Section -8 Company is that Firms can also become a part of it by subscribing the shares of the Company.
You are requested to first fill the simple questionnaire provided by our expert team.
At the second step we will be requiring the documents in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for processing.
First of all DSC (Digital Signature Certificate consisting of the E-signatures) is required to be prepared.
The next step is to check the name availability. The name should be unique in nature and should not be similar to name of any other entity registered.
Once the name is approved, an online application is required to be filed through SPICE+ along with the requisite documents as obtained from above the same is to be filed with ROC
Lastly, after the approval a Certificate of Incorporation and Section-8 License will be provided through e-mail which signifies that the Company has been incorporated.
License under Section- 8 defines that the Company is registered and incorporated with the object to promote charity and other social objectives thereby developing the cultural, health values etc.
No Section-8 is prohibited from declaring dividends to its Members.
The section-8 Company receives the License as soon as it is registered by the ROC in MCA and under the Registrars through e-mail.
Yes, Section -8 Company can raise funds from foreign after complying with the guidelines as prescribed by FEMA and FCRA.
The auditor has to be appointed within 30 days of incorporation of company by passing a board resolution.
Yes, Section 8 Companies can invest in other companies in order to meet the objectives of its formation.
