A company registered under companies act 2013 or previous applicable act and has in objects to,

– Sports Promote commerce, art, science, education, research, social welfare, religion, charity, protection of environment or any such other object;

And intends to apply its profits, if any, or other income in promoting its objective, intends to prohibit the payment of any dividend to its members is called section 8 companies under companies act 2013.

Details of Section 8 Company

1. Section 8 company incorporated for charity, social welfare, social promotion, their main aim is to promote social welfare and work for society, not to earn profits.
2. Section 8 companies don’t require any prescribed minimum paid-up share capital.
3. Company doesn’t issue dividend to its members, because it is restricted from law.
4. Section 8 companies are licensed by the central government under section 8 of the companies act 2013 and these companies work for society and receive a donation from other general public for the welfare work.

What all document required for Section 8 Company (NPO-Non-profit Organization)

• Digital Signature Certificate
• Memorandum of Association
• Articles of Association
• Passport Size Photographs
• Members’ Id Proof such as Aadhar Card, Passport, Voter Id
• Details of Director (When the Members Are Other Companies/LLPs)
• Address Evidence
• Director Identification Numbers