What is a Section 8 Company?
A not-for-profit company formed for charitable, social, educational, or similar purposes.
Promoters Are Called:
- Members
- Directors
Structure Requirements
- Minimum Directors: 2 (private type) / 3 (public type)
- Minimum Members: 2 or 7
- Capital: No minimum
NRI / Foreign Participation
- Allowed subject to FCRA if receiving foreign donations.
Meetings
- AGM required annually
- Board Meetings
Dividend
- No dividend permitted.
Remuneration
- Directors may receive remuneration subject to restrictions.
Audit
- Mandatory annually.
Tax
- Can apply for 12A and 80G exemption.
Formation of Section 8 Company
Core Services
- Name Approval
- DSC for all Directors
- MOA & AOA Drafting
- DIN for Directors
- Application Preparation
- Attestation by Professionals (CA/CS/CMA)
- PAN & TAN & Certificate of Incorporation (CIN)
Optional Services
- GST Registration
- Bank Account Opening Assistance
- Appointment of Auditor
- Initial Compliance Filing
- Training on Compliance
- Accounting
- Company Secretarial Services
- GST Filing
- Monthly Compliances
- Annual Income Tax Filing
- Annual MCA Filing
- Annual Audit/Tax Audit/Gst Audit Facilitation
- Virtual CFO Services
- Office Space/Co-Working Facility