Section 8 Company (NPO- Non-Profit Organization) Registration in India
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
- 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.
- Section 8 companies don’t require any prescribed minimum paid-up share capital.
- Company doesn’t issue dividend to its members, because it is restricted from law.
- 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