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Section 8 Company Registration

Section 8 Company Registration

According to Section 8 of the Companies Act, 2013, a Section 8 company can be established for promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other aims and objective, provided it applies its profits, if any, or other income in promoting its objects and prohibit the payment of any dividend to its members. In India, a non-profit organisation can be registered as a company under Section 8 of the Companies Act, 2013. Section 8 Company is governed by companies act so all the basic requirements which are applicable to private/public company applicable to the section 8 company. It is similar to society or trust except it is registered under Central Government but trust and society under state government regulations.

Features

Easy to Form

Limited Liability

Democratic Management

Economic Operations

No obstruction for membership

Service Motive

Stability and Continuity

Enjoys tax benefit

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