Firms as members
Section 8 Company is named as section 8 of the Companies Act,2013 which pertains to established for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object, provided the profits if any or other income is applied for.....
The eligibility for the section 8 company registration is that the object must be charitable or to promote arts, science, commerce etc. It shall intend to apply all its profit in promoting the objectives and assures the prohibition of dividend to any of its members.
Section 8 company is a non profit organisation that is why they are exempted from some provisions of the income tax. They avail the benefits under section 80 G of the Income Tax Act, 1961. They are also required to pay less stamp duty as compared to other organizations.
Income earned from this organization can only be used for the above mentioned objects only.
Copy of PAN ( Permanent Account Number) of all directors / Promoters (Minimum 2, Maximum 200)
Copy of Address Proof ( Voter Id, Passport, Driving License, Aadhar Card)
Latest passport size Photographs of all directors / Promoters
Utility Bill (Electricty Bill) of premises proposed to be the registered office. In case Premises is taken on Rent / Lease ( Rent agreement will also be required)
Copy of Mobile bill, telephone bill, electricity bill or bank statement supporting the address proof of all directors/Promoters
Apply for DIN
Apply for Digital Signatures
Section 8 License
|Private Limited||Limited Liability Partnership||One Person Company||Partnership Firm||Sole Proprietorship|
|Recommended For||Start-ups and growing||Professional services firms||Sole promoters||Home businesses||Small traders|
|Ease of Accommodating||Very easy to accommodate||Possible, but unlikely||Possible, but severely||Almost impossible||Impossible|
|Limited Liability Protection||Yes||Yes||Yes||No||No|
|Tax Advantages||Few benefits||Most efficient||Few benefits||Minimal||Minimal|