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ONLINE SECTION 8 COMPANY REGISTRATION

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CORPORATES:  Philanthropists Beyond Merely Profit Makers

Besides mandatory obligation of contributing 2% of Net Profits in Corporate Social Responsibility (CSR) activities under Companies Act, 2013; there arecorporates tycoons, who are-actively engaged themselves in making generous contributions to the Nation Building.

Whether we talk about Promoter of Tata Group Mr. Ratan Tata, Infosys chief Mr. Nandan Nilekani, HCL head Mr. Shiv Nadar, ITC Group, Bajaj Family, our country is proud of its celebrated corporate personalities who are well known not only for their sharp business development skills or promoters of world-renowned unicorns but also as the biggest Philanthropists of the country.

TYPES/ FORMS/ CATEGORIES OF NGOs IN INDIA

Whenever anyone thinks of forming an organisation for the act of philan thropy the napart from the segment of societal issue which he should choose to work upon, a question strikes in his mind, what form of Organisation he should choose?

In India NGOs can be set up of following types:

  • Through Section 8 Company Registration under Companies Act, 2013
  • Society registered under Society Registration Act, 1860
  • Trust registered under Indian Trust Act, 1882 etc.

Here, we are discussing chiefly on Section 8 (erstwhile section 25) company.

SECTION 8 COMPANY MEANING AND GOVERNANCE

  • Section 8 Company refers to that form of NGO which is formed as a Company under section 8 ofCompanies Act, 2013 and
  1. Is established for promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;
  2. Intends to apply its profits, if any, or other income in promoting its objects; and
  3. Intends to prohibit the payment of any dividend to its members,
  • Section 8 company on an application filed in this regard may be granted a license to exempt itself from the mandatory requirement of ending its name with limited or Private limited.
  • Before the introduction of Companies Act, 2013 section 25 of Companies Act, 1956 used to govern them.
  • Registrar of Companies (ROC), Ministry of Corporate Affairs (MCA) is the regulating authority for Section 8 companies.

DOCUMENTS REQUIRED FOR SECTION 8 COMPANY REGISTRATION:

  • Passport size photographs of all first Directors/Subscribers to MOA
  • ID proof of subscribers and first directors (self-attested Aadhar card and PAN card)
  • Permanent address proof of Subscribers and directors (Voter ID, passport, driving license
  • Present address proof of subscribers and directors (Bank statement or utility bill not older than 2 months)
  • Business activity and NIC code details
  • Authorised and paid-up capital details
  • Registered office proof

Registered office proof

SECTION 8 COMPANY REGISTRATION PROCESS

For registration of Section 8 companies following steps are to be   followed:

  • Apply for DSCs of Subscribers to MOA and First Directors
  • Apply for DIN of First Directors (DINupto 3 directors may be applied in integrated incorporation form (formSPICe plus)
  • Checking name availability on MCA portal and Trademark Public Search
  • Apply for name in Name Reservation(form SPICepart A)
  • Once name approval letter is receivedname stands reserved for initially 20 days which may be further extended up to 40days (max name reservation period can be 60 days) on filing extension application and payment of additional fees.
  • Apply for Incorporation of company in SPICe PART-B along with all other forms (AGILE-PRO-S, INC-9) and all attachments.
  • Onceincorporation application is approved by ROC, he will issue Certificate of Incorporation (COI) under his hand.

SECTION 8 COMPANY REGISTRATION FORMS

  • SPICe PART A (Application for Name Reservation)
  • SPICe PART-B (Application for Incorporation)
  • AGILE-PRO-S (Application for GSTIN, ESIC registration, EPFO registration, Shops and Establishment registration, Professional Tax registration, opening of bank account)

Note: SPICe MOA, SPICe AOA are not applicable to Section 8 company registration, MOA and AOA are to be submitted in the form of scanned copy of printed and signed INC-13 and INC-14 respectively as attachments to SPICe part-B

ATTACHMENTS TO INCORPORATION APPLICATION

  • Memorandum of Association in form INC-13
  • Articles of Association in form INC-14
  • Declaration in form INC-14 by Advocate/CA/CS/CMA in practice to the effect that all the conditions given under section 8 have been complied with and that the MOA and AOA have been drawn up to conformity of Section 8
  • Declaration in form INC-15 by each Applicant to incorporation
  • Consent by First Directors in form DIR-2
  • Declaration by First Directors regarding Non- Disqualification in Section 164 in form DIR-3
  • An estimate of the future Annual Income and Expenditure of the company for next three years, specifying the sources of the income and the objects of the expenditure
  • Self Declaration by First Directors and Subscribers in form INC-9
  • ID and address proofs of First Directors and Subscribers
  • Registered Office address proof

SECTION 8 COMPANY REGISTRATION FEES

  • Payment for name reservation: Rs. 1000.00

(Note: if extension application is to be filed additional fees of Rs.1000 is to be paid)

  • Payment for PAN/TAN: Rs. 65.00 each (total Rs.101.00)
  • Payment for MOA/AOA/incorporation application: not applicable
  • Payment of Stamp Duty: Not applicable on Section 8 Company

We hope that you liked this article, still if you have any questions or suggestions for us, or if you yourself is looking for an opportunity for Section 8 Company Registration in India then please contact to our expert team at Compliance Calendar LLP at info@ccoffice.in or 9988424211 and we will be happy to make your dream of having your NGO come true.

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