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Section 8 Company and Producer Company
A section 8 company is a company registered under the Companies, Act 2013 with a non-profit motive. If differs from a company in various aspects and the income of the Section 8 company must be used to promote only charitable objects. Want to register a Section 8 company? Contact us to get your section 8 company registration by availing of our premium offers. RandL offers Section 8 Company and Producer incorporation can be done as per requirement.
Easily Register a Section 8 Company and Producer Company
Overview of Section 8 Company and Producer Company
Section 8 Company is the company registered under the Companies Act, 2013 as a Non-profit organization. As we all know NPO can be registered as Trust by executing a Trust deed or, As a society under the Registrar of Societies, or, As a non-profit company under Section 8 Company of the Companies Act, 2013.
Section 8 Company is the most popular form of Non-profit organization that is established for the-
- Promotion of commerce,
- Social welfare,
- Protection of environment or any such other related object”.
In layman, a Section 8 company must promote public welfare and the income generated by the company can only be used to support the stated public cause(s) only.
What are the Benefits of Registering a Section 8 Company?
Numerous benefits are provided to Section 8 Company. Few are mentioned below:-
- 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.
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.
What are the Documents Required for Registering Section 8 Companies?
Below-mentioned documents are required for registering Section 8 Company:-
- The Articles of Association
- Memorandum of Association
- Declaration by the subscribers and by the directors
- A confirmation for the address of the office
- Two months utility bills copy
- Certificate of incorporation of the Outer Country body corporate [If applicable]
- A resolution passed by the global Company [If applicable]
- A recommendation declared by the promotional Company [If applicable]
- The interest of the directors from other entities [If applicable]
- Nominee’s assent
- Identity proof and residential address of the subscribers and the nominees
- Identity proof and residential address of Applicants
- The Declaration/Resolution of the unregistered companies
- DSC (Digital Signature Certificate)
- Any other document [If required]