What is a Section 8 Company?

Section 8 Company is registered to promote non-profit objectives such as trade, commerce, arts, charity, education, religion, environment protection, social welfare, sports research, etc. The profits of this company, if there are any, are applied towards promoting the objectives of the company and not distributed as dividends to its shareholders. A Section 8 Company is the same as the Section 25 Company under the old Companies Act, 1956.

Basic requirements of a Section 8 Company:

No minimum paid up capital is required for a section 8 company.

Registration process of Section 8 Company:

• Application of DSC and DIN
• Approval for Name after checking its availability
• Formation of MOA and AOA
• Filing of form SPICe+
• Obtain CIN
• SPICe+

Simplified Proforma for Incorporating Company electronically Plus.

The SPICe+ form is the application for the incorporation of the company. The following documents must be attached along with SPICe+ Form:

• Memorandum and articles of the company duly signed by all the subscribers
• Declaration from each of the subscribers and first directors that they are not guilty of any offence or misfeasance
• Declaration in Form INC 14 and Form INC 15 from a Chartered Accountant and each person making the application respectively
• Address of correspondence till the registered office is official
• Address and Identity proofs of all the subscribers to MOA and first directors of the company
• Passport size photograph of all the directors and shareholders
• Copy of the rental agreement, in case the company registered office, is on a rented property

Statutory compliances:

• All section 8 Companies are required to file Income tax return as per Income Tax Act.
• Other compliances as prescribed by any other act or law.