ADVANTAGES & BENEFITS
Why to Register Section 8 Company
Section 8 Company or a Non-Profit organisation (NPO) is a Company established for promoting commerce, art, science, religion, sports, education, research activities, charity or any other useful social object, provided the profits and donations is applied for promoting only the objects of the company and no dividend is paid to its members or owners.
The term No Profit does not mean that the Company cannot generate profit or income, but what it means is applying the income for promotion of the object and not for distributing it to the promoters. It means that the Company can earn profits but the promoters cannot be benefitted out of those profits.
for Section 8 Company Registration
WHAT ALL YOU GET
with NGO Company Registration
On How to Register Company in India
You need to arrange very simple documents of directors like photograph, Pan card and one address proof.
No, commercial office space is not required. You can show your own residential or rented home address as the registered office address of the Company. This office address can be changed at any time after incorporation of the company. Once your startup is set up, stable and ready to move on to a nice corporate space you can change the registered office address by informing to the ROC office.
Registrar Of Companies is a Government office with whom companies get registered.
No. GST GURU provides complete online Company Incorporation process. All legal documentation with ROC and visits are done by GST GURU.
No. Once the NGO company is formed, it will be valid till it is officially closed down by the owners. No renewal or fees is required. However, every year companies have to file very basic returns with ROC office.
Director Identification Number (DIN) is a unique identification number required for a person to become a director of a company. DIN is issued by ROC office (Ministry of Corporate Affairs)
It is similar to a PAN Card number.DIN is to be mentioned in documents while appointing a person as a director of a company.
A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.
Company name is very important part in registration of company. The company name is divided into 3 Parts:
1) Keyword (brand name like TCS or amazon)
2) Activity word(i.e. showing nature of business like Software Or E-commerce)
3) Business Type word (i.e. Pvt. Ltd. or LLP). For Incorporation of company, the suggested name should not match with existing companies or trademark.
MOA means Memorandum of Association and AOA means Articles of Association. These are the byelaws or rules based on which important matters like main business of the company or meetings is decided. These are standard legal documents prepared by Company Secretaries during registration of the Company.
Profit or Income of Non Profit Company can only be used for promotion of the charity work in which it is involved. Even declaration of dividend or distribution of profit to its promoters is not allowed
No. Promoters of Non profit company cannot be employed as paid employee of the company
Yes, Section 8 company be converted into private limited company after taking the approval from ROC.