Registration Cost

29668 /-
 

Package Includes

MyCorporation Fee: 14999 ₹ 24999
2 DIN    : 2000
2 DSC    : 2000
Govt Fee ( 100000)    : 7300
Stamp duty (Delhi)    : 200
Taxes    : 3169

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Package Includes

DSC is required for signing eletronic form on Mca website.this is compulsory for director.A licensed Certifying Authority (CA) issues the digital signature. Certifying Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Section 24 of the Indian IT-Act 2000.

Director Identification Number (DIN) is a unique identification number given to an existing or a potential Director of any company which is incorporated.

Memorandum of Association (MOA) is the supreme public document which contains all those information that are required for the company at the time of incorporation. It can also be said that, a company cannot be incorporated without memorandum. It contains the objects, powers and scope of the company, beyond which a company is not allowed to work, i.e. it limits the range of activities of the company. ‘Articles of Association’ shortly known as AOA, is also a major document which contains all the rules and regulations designed by the company. Below you can see the basic differences between the Memorandum of Association and Articles of Association.

A certificate of incorporation is a legal document relating to the formation of a company or corporation. It is a license to form a corporation issued by state government. Its precise meaning depends upon the legal system in which it is used

Permanent Account Number (PAN) is a code that acts as identification of Indians, especially those who pay Income Tax. It is a unique, 10-character alpha-numeric identifier, issued to all judicial entities identifiable under the Indian Income Tax Act 1961.

In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alphanumeric number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.

Documents Required for Section 8 Company Registration

  • 1     Copy of PAN ( Permanent Account Number) of all directors / Promoters (Minimum 2, Maximum 200)
  • 2     Copy of Address Proof ( Voter Id, Passport, Driving License, Aadhar Card)
  • 3     Latest passport size Photographs of all directors / Promoters
  • 4     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)
  • 5     Copy of Mobile bill, telephone bill, electricity bill or bank statement supporting the address proof of all directors/Promoters
Process Involved 20%

STEP 1

Apply for DIN

STEP 2

Incorporation Documents

STEP 3

Apply for Digital Signatures

STEP 4

Name Approval

STEP 5

Section 8 License

STEP 6

Incorporation

After DSC, application is filed with MCA for getting the DIN Number

Incorporation Documents are prepared and sent for Signatures.

Once ID proofs and signed documents are received, Digital Signature is applied for Directors

Application for Name Approval is Filed in form INC­1

After the name is approved, Form RD­1 is filed with Registrar of Companies for Licence

Form INC­7 along with INC­22 and DIR­12 to be filed online after the MOA and AOA are drafted and PAN and TAN is applied after Incorporation

MEANING OF SECTION 8 COMPANY

The idea of incorporating a non-profit making company in India is not a new term as it has been in the business community since ages. Section 8 company pertains to a 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 promoting only the objects of the company and no dividend is paid to its members
As far its structure is concerned, it is much alike a trust or society as it is registered under the Central Government’s Ministry of Corporate Affairs. A Section 8 Company enjoys many privileges and exemptions under Company Law.

A Non-profit Organization is a Company which

  • Has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;
  • Intends to apply its profits, if any, or other income in promoting its objects; and
  • Intends to prohibit the payment of any dividend to its members

We, at MyCorporation, make it easy for our clients to incorporate a Section 8 company by providing all necessary legal and professional support in respect to incorporation and business management. Our highly talented legal professionals are experts in lending you full support to help you realize your business dream.

ADVANTAGES OF SECTION 8 COMPANY

EASE OF FORMATION    

A Section 8 company can be formed by two persons only, by complying with the prescribed formalities of the Companies Act. Many privileges and exemptions under Company Law. Registered partnership firm can be a member

LIMITED LIABILITY

The greatest benefit of Section 8 Company is limited liability. If any liability arises then its member is not personally affected; members are only liable for unpaid shares held by them and not more than that.

SEPARATE LEGAL ENTITY

This is the most prominent quality of a Section 8 Company. It refers to the statement that company and its members are completely distinctive. The biggest advantage of a section 8 company is that its identity is distinct from that of its members.

GREATER FLEXIBILITY

A Section 8 company is required to perform lesser legal formalities as compared to a public company. It enjoys special exemptions and privileges under the company law. A company is a separate person having its own rights & Obligations

PERPETUAL SUCCESSION.

Death, insolvency and insanity etc of any of the member does not affect the continuity of the company. Thus the life of the company does not depend upon the life of its members.In case of death of the owner or transfer of shares

TAX BENFITS

A Section 8 company is not required to publish its accounts or file several documents. Therefore, it is in a better position than a public company to maintain business secrets. Your business won’t get affected. There will be no effect on firm’s.

COMPLIANCES AFTER THE INCORPORATION OF SECTION 8 CO.
1.Apply for Sales Tax / Service Tax Registration based on the nature of Business.
2. To maintain proper Books of Accounts
3. Filing Income Tax Return of Company on or Before 30th September
4. To comply with SS-1 and SS-2
5. Get your account books Audited every year
6. To maintain minuted book and Statutory Registers
7. Filing of Form MGT-7, AOC-4 and ADT-1 every year
8. Appointment of Auditor- No intimation required to be given to ROC in case of First Auditors. Form ADT-1 to be filed within 15 days of 1st AGM of the company

FAQ

The entire procedure can be completed on a fast track basis within 25 working days of incorporating a Section 8 Compnay.
A company registered under this section shall not alter the provisions of its memorandum or articles except with the previous approval of the Central Government. .
There is also a provision for conversion of existing Companies into a Non-profit making company under section 8 read with Rule 20 of Companies (Incorporation) Rules, 2014. Likewise a Non-profit making company can also be converted into any other Company by following the procedure given in Rule 21 and 22 of Companies (Incorporation) Rules, 2014. We shall discuss these procedures in some other article. .
As per section 8(6), the Central Government may, by order, after giving the company a reasonable opportunity of being heard, revoke the licence granted to a company registered under this section if the company contravenes any of the requirements of this section or any of the conditions subject to which a licence is issued or the affairs of the company are conducted fraudulently or in a manner violative of the objects of the company or prejudicial to public interest,and direct the company to convert its status and change its name to add the word “Limited” or the words “Private Limited”, as the case may be, to its name and thereupon the Registrar shall, without prejudice to any action that may.
Yes, promoters need to be present to personally meet us at our office or meet at any place for the registration of a Company. All the incorporation documents required to be present in original and scanned copy also required to submit.

 

A Non-profit making Company is a Company which: (a) has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; (b) intends to apply its profits, if any, or other income in promoting its objects; and (c) intends to prohibit the payment of any dividend to its members..
If a company makes any default in complying with any of the requirements laid down in section 8, the company shall, without prejudice to any other action under the provisions of this section, be punishable with fine which shall not be less than ten lakh (10,00,000) rupees but which may extend to one crore (1,00,00,000) rupees and the directors and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years or with fine which shall not be less than twenty-five (25,000) thousand rupees but which may extend to twenty-five (25,00,000) lakh rupees, or with both: .
As per section 8(7), where a licence is revoked under sub-section (6), the Central Government may, by order, after giving the company a reasonable opportunity of being heard, if it is satisfied that it is essential in the public interest, direct that the company be wound up under this Act or amalgamated with another company registered under this section.
Drafting of the MOA and AOA is generally a step subsequent to the availability of name made by the Registrar. It should be noted that the main objects should match with the objects shown in e-Form INC.1. These two documents are basically the charter and internal rules and regulations of the company. Therefore, it must be drafted with utmost care and with the advice of the experts and the other object clause should be drafted in a very broader sense.The memorandum of association of the proposed company shall be in Form No.INC.13. .