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Section-8 Company is the most preferred form of registering a NGO in India. The NGOs of India have three legal forms that include Trust, Societies and Section-8 companies. Section 8 companies are defined under section 8 of the Companies Act, 2013 and are governed under the guidelines and rules being laid down by the Registrar of Companies (ROC). This Section-8 Company is specifically formed to achieve Charitable, Social or any other similar objects. It also intends to apply the profits earned for the promotion of such objectives. There is minimum requirement of two (2) Directors to form a Section-8 Company. Memorandum of Association (MOA) and the Articles of Association (AOA) are the bylaws of section 8 company. Section 8 Company is also most preferred form of NGO by the Income Tax Department or Ministry of Home Affairs (MHA) at the time of grant of 12/80G registration or FCRA license respectively.
Memorandum of Association (MOA) and Articles of Association (AOA) are the byelaws of Section 8 Company which defines its Rules & Regulations. MOA & AOA of Section 8 Companies inter-alia, contains the following information:
- Duly signed MOA and AOA of Section-8 company.
- Self- attested PAN card and Address proof (Aadhar card, Voter ID, passport, etc.) of the Directors.
- Soft copy of the Photographs (passport size).
- Latest Utility Bills- Bank Statement, Mobile Bill or Electricity Bill (should not be older than 2 months).
- NOC from the owner of the property.
- Electricity bill or Water Bill that is not more than 2 months old.
- Rent Agreement.
Application of Digital Signatures for Directors.
Application for reservation of Name for Section 8 Company.
Application for incorporation of Section 8 Company.
ROC issues the Certificate of Incorporation to Section 8 Company.
Application for PAN and TAN of Section 8 Company.
Open the Current Account of Section 8 Company.
Section 8 Company can always work on PAN India basis with no additional requirement unlike Society which requires the members from seven (7) different states in order to have PAN India Status.
Yes, even Ministry of Home Affairs (MHA) which approves the FCRA registration prefers Section 8 Company over Trust or Society.
Yes, even Income Tax Department which approves the 12A and 80G registration prefers Section 8 Company over Trust or Society.
TDS Compliance is mandatory for Section 8 Company. Further, GST Compliance is also required if Section 8 Company is doing some allied commercial activities which is taxable in nature.
There is no requirement to renew the Section 8 Company registration license as it is perpetual in nature.
No. We need atleast two (2) members to form the Section 8 Company.
Section 8 Company is licensed by Central Government and Registrar of Companies which bring more Trust, Reliability and Authenticity in the Industry.
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