{"id":51376,"date":"2022-12-19T12:45:18","date_gmt":"2022-12-19T07:15:18","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=51376"},"modified":"2024-09-27T11:45:59","modified_gmt":"2024-09-27T06:15:59","slug":"documents-required-for-section-8-company-registration","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/","title":{"rendered":"What are the Documents Required for Section 8 Company Registration?"},"content":{"rendered":"\n<p>The definition of\n&#8220;company&#8221; is given in <em>Section 2\n(20)<\/em> of the Companies Act of 2013 as &#8220;company refers to a corporation\nestablished in accordance with this Act or a previous company law.&#8221; In\nIndia, the idea of a non-profit organisation is not new. Non-profit organisations\nwere first controlled by <em>Section 25<\/em>\nof the Company Act of 1956, which is why they are sometimes known as <em>Section 25 <\/em>Companies. Section 8 of the\nCompany Act of 2013 now includes regulations relating to non-profit\norganisations, together with <em>Rules 19 and\n20<\/em> of the 2014 Companies&#8217; Incorporation Rules. In this article, we will\ntalk about Documents Required for Section 8 Company Registration.<\/p>\n\n\n\n<p>According to <em>Section 8(1a, 1b, and\n1c)<\/em> of the Companies Act of 2013, anyone can incorporate under <em>Section 8<\/em> to promote commerce, art,\nresearch, social welfare, science, sports, education, religion, charity,\nprotection of the environment, but added a point to this is they are intended\nto use their profits or other income, if any, only in promotion of their objectives\nand intend to forbid paying any dividends to their members.<\/p>\n\n\n\n<p><strong><em>A few examples of\nbusinesses established under Section 8:<\/em><\/strong><\/p>\n\n\n\n<ul>\n<li>Federation of\nIndian Chambers of Commerce &amp; Industry; <\/li>\n\n\n\n<li>Reliance Research\nInstitute (RRI);<\/li>\n\n\n\n<li>Reliance Foundation;<\/li>\n\n\n\n<li>A Deemed University\nlike Christ University;<\/li>\n\n\n\n<li>Over the Counter\nExchange of India (OCE), etc.<\/li>\n<\/ul>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/#Characteristics_of_Section_8_Companies\" >Characteristics\nof Section 8 Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/#Advantages_of_Incorporating_a_Company\" >Advantages of\nIncorporating a Company&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/#Eligibility_Criteria_for_Section_8_Company_Registration\" >Eligibility Criteria\nfor Section 8 Company Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/#Documents_Required_for_Section_8_Company_Registration\" >Documents\nRequired for Section 8 Company Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/#Procedure_for_Incorporation_of_Section_8_Companies\" >Procedure for\nIncorporation of Section 8 Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-section-8-company-registration\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Characteristics_of_Section_8_Companies\"><\/span>Characteristics\nof Section 8 Companies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before\nwe discuss the vital documents required for Section 8 <strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/company-registration\">Company Registration<\/a><\/strong>, lets discuss\nthe characteristics of Section 8 Companies. Following are some characteristics\nof Section 8 Companies:<\/p>\n\n\n\n<ul>\n<li><strong>No Minimum Capital<\/strong><\/li>\n<\/ul>\n\n\n\n<p>There is no\nrequirement for a minimum share capital. The required finances are raised\nthrough donations, membership dues, or general public subscriptions.<\/p>\n\n\n\n<ul>\n<li><strong>Limited Liability<\/strong><\/li>\n<\/ul>\n\n\n\n<p>One of the\nadvantages of registering as a <em>Section 8<\/em>\ncompany is the limited liability. To put it simply, the members of the company\nremain unaffected in the case where liability arises. <\/p>\n\n\n\n<ul>\n<li><strong>No Dividend Distribution<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Members of\nthe Company are not allowed to distribute the dividend among themselves. <\/p>\n\n\n\n<ul>\n<li><strong>Separate Legal Entity<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Like any\nother company, a <em>Section 8<\/em> company is\nregarded as a distinct legal entity. It has a separate legal status from\nmembers. Thus, it can sue and be sued in its own name. It also has a perpetual\nexistence.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_of_Incorporating_a_Company\"><\/span>Advantages of\nIncorporating a Company&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em>Section 8<\/em> companies work solely for the benefit of the\npublic. Therefore they receive specific benefits. Let&#8217;s examine these\nbenefits:&nbsp;<\/p>\n\n\n\n<ul>\n<li>No\nminimum capital is required for a Section 8 firm, unrelated to other companies.\nThey have the flexibility to change their capital structure as needed.<\/li>\n\n\n\n<li>When\nregistering, stamp duty must typically be paid, although section 8 companies\nare exempt from this requirement.&nbsp;<\/li>\n\n\n\n<li>Any\nregistered partnership business may join a <em>Section\n<\/em>8 company as an individual member.<\/li>\n\n\n\n<li>Companies registered under <em>Section 8<\/em> of the 2013 Companies Act are eligible for a number of tax benefits. For instance,&nbsp;<strong><a href=\"https:\/\/corpbiz.io\/80g-and-12a-registration\" title=\"12a and 80g registration online\">Sections 12AA and 80G<\/a><\/strong>&nbsp;of the Income Tax Act provide tax incentives to contributors of Section 8 companies.<\/li>\n\n\n\n<li>A\ncorporation incorporated under Section 8 is more credible than any other Not\nfor Profit Organization (NPO), such as a trust. This is because the corporation\nis licenced by the Central Government, which may impose strict regulations. As\na result, the organisation gains a more trustworthy reputation.<\/li>\n\n\n\n<li>Like any\nother company, a Section 8 company is regarded as a distinct legal entity. It\nhas a separate legal status from members. Thus, it can sued and being sue in\nits own name. It also has a perpetual existence.<\/li>\n\n\n\n<li>Section 8\nbusinesses have a lot of flexibility because it is considerably simpler to\ntransfer ownership and title in these.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_Criteria_for_Section_8_Company_Registration\"><\/span>Eligibility Criteria\nfor Section 8 Company Registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before proceeding with the\nregistration procedure, all business organisations that intend to register as <em>Section 8<\/em> companies should review the\nlist below to check your availability: <\/p>\n\n\n\n<ol>\n<li>To register a Section-8\ncompany in India, one must be an individual, HUF, or limited company.<\/li>\n\n\n\n<li>Two or more individuals who\nwill act as shareholders or directors of the company. They must adhere to and\nmeet all the criteria of Section 8 Company registration. <\/li>\n\n\n\n<li>At least one of the\ndirectors shall be a resident of India. <\/li>\n\n\n\n<li>The aim behind the\nincorporation of Section 8 Company should be to promote sports, social welfare,\nthe progress of science and art, education, and financial aid to lower-income\ngroups.<\/li>\n\n\n\n<li>The surplus generated must\nonly be used to achieve the primary goal of the section 8 company.<\/li>\n\n\n\n<li>No compensation of any\ntype, including cash, profit or stock, may be received by the company&#8217;s\nfounders, members, or directors.<\/li>\n\n\n\n<li>The company should have a\ndefined strategy and project plan for the upcoming three years.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_for_Section_8_Company_Registration\"><\/span>Documents\nRequired for Section 8 Company Registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Registering as a <em>Section 8<\/em> Company is outlined in <strong>the Companies Act\nof 2013<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/www.mca.gov.in\/Ministry\/pdf\/CompaniesAct2013.pdf\"><strong>[1]<\/strong><\/a><\/sup>. An application in Form No. INC.12 must be filed to the\nRegistrar of Companies, and the supporting documents required for Section 8\nCompany Registration is listed below:<\/p>\n\n\n\n<ul>\n<li>If the\npromoters and directors are citizens of India, PANs cards for each director are\nrequired. Along with this, additional identifying documents such as a voter ID,\nan Aadhar card, or a driver&#8217;s licence may be provided;<\/li>\n\n\n\n<li>A passport\nis necessary as identification in the situation where the director is a foreign\nnational;<\/li>\n\n\n\n<li>Any proof\nof residence, this could be a telephone bill, electricity bill, etc. It cannot\nbe more than two months old;<\/li>\n\n\n\n<li>The most recent passport-sized photograph of each director and promoter;<\/li>\n\n\n\n<li>Address proof for the company&#8217;s registered office. This could be the\nlease and payment receipt, or any document proving ownership, such as the sale\ndeed, is necessary if the director is the one who owns this;<\/li>\n\n\n\n<li>Director Identification Number (DIN) (if any);<\/li>\n\n\n\n<li>Digital certificate (if any);<\/li>\n\n\n\n<li>Memorandum of Association &#8211; <strong>Form\nno. INC \u2013 13;<\/strong><\/li>\n\n\n\n<li>Articles of Association &#8211; <strong>Form\nno. INC \u2013 13;<\/strong><strong><\/strong><\/li>\n\n\n\n<li>A\nDeclaration that the draught MOA &amp; AOA are consistent with the provisions\n&amp; regulations of section 8 &#8211; Form<strong>&nbsp;INC-14;<\/strong><strong>&nbsp;<\/strong><\/li>\n\n\n\n<li>A\ndeclaration on stamp paper &amp; notarized by each member of the company\n&#8211;&nbsp;<strong>Form INC-15<\/strong><strong>. <\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procedure_for_Incorporation_of_Section_8_Companies\"><\/span>Procedure for\nIncorporation of Section 8 Companies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After discussing the vital documents required for Section\n8 Company Registration, now we proceed with the procedure to register as a <em>Section 8<\/em> company, follow these simple\nsteps:&nbsp;<\/p>\n\n\n\n<ul>\n<li>The first\nstep is to obtain a&nbsp;<em>Digital\nSignature Certificate (DSC)<\/em>of the proposed Directors\nof the company;<\/li>\n\n\n\n<li>After\nreceiving a DSC, file Form DIR-3 with the Registrar Of Companies to get a DIN;<\/li>\n\n\n\n<li>Once the\nDIR-3 is approved;<\/li>\n\n\n\n<li>Draft MOA\nand AOA;<\/li>\n\n\n\n<li>File the\nForm with Form INC-12 with the Registrar Of Companies and submit it along with\nthe crucial documents required for Section 8 Company Registration;&nbsp;<\/li>\n\n\n\n<li>Once the\nform gets approval from the Central Government, a licence will be issued in\nForm INC-16.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Incorporating a company under <em>Section 8<\/em> is particularly convenient for encouraging more people to contribute to society and rewarding those who currently do so. It does not take long and comes with several benefits and eased norms. You can quickly incorporate a Section 8 corporation as long as you fill out the proper procedures and have the necessary documents required for Section 8 Company Registration on hand.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>: <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-avail-a-company-registration-certificate\/\">How to Avail a Company Registration Certificate?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The definition of &#8220;company&#8221; is given in Section 2 (20) of the Companies Act of 2013 as &#8220;company refers to a corporation established in accordance with this Act or a previous company law.&#8221; In India, the idea of a non-profit organisation is not new. Non-profit organisations were first controlled by Section 25 of the Company [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":51377,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[325],"tags":[2964],"acf":{"service_id":"11"},"authorName":"Astitva Kumar","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-27.jpg","authorDescription":"Astitva Kumar is an advocate by profession and has completed her BBA. LLB from IP University. She is an avid reader, researcher, and legal writer. Her areas of interest include mediation, conflict resolution, finance, cyber laws, and taxation.","postViews":3681,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51376"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=51376"}],"version-history":[{"count":6,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51376\/revisions"}],"predecessor-version":[{"id":66454,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51376\/revisions\/66454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/51377"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=51376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=51376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=51376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}