Section 8 Company
- A Section 8 Company, governed by the Companies Act, 2013, is a type of non-profit organization (NPO) registered in India. Unlike a for-profit company aiming to generate financial returns for shareholders, a Section 8 Company focuses on promoting social welfare and public good.
- Benefits of a Section 8 Company:
- Limited Liability Protection: Protects members’ personal assets.
- Credibility and Recognition: Formal structure enhances trust and legitimacy.
- Eligibility for Grants: Can receive grants and donations to support its causes.
- Tax Exemptions: May be eligible for tax benefits on donations and income.
- Company Documents:
- Company Documents:
- Memorandum of Association (MOA): This document outlines the company’s foundation.
- Articles of Association (AOA): This document defines the internal rules and regulations of the company, governing aspects.
4.Documents for Directors and Members:
- Director Identification Number (DIN): Each director needs a DIN, obtained through a separate application process.
- PAN Card: All directors and members (Indian citizens) need to submit their PAN cards. (Passport for Foreign Nationals)
- Identity Proof: Directors and members can use Aadhaar card, Passport, Voter ID card, or Driving License.
- Address Proof: Latest utility bills (not older than 2 months) or bank statements for directors and members.
- Passport Size Photograph: Required for each director.
