|Free Company Name Search||Name Reservation|
|Free Consultancy||Certificate of Incorporation|
|1 DSC, PAN & TAN||Copy of MOA & AOA|
|DIN of 2 Directors||Share Certificates|
|Copy of Section 8 Company License|| Free Basic Software|
The Companies Act defines a Section 8 company as one whose objectives is to promote fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, or other similar objectives. These companies also apply their profits towards the furtherance of their cause and do not pay any dividend to their members.
These companies were previously defined under Section 25 of Companies Act, 1956 with more or less the same provisions. The new Act has, however, prescribed more objectives that Section 8 companies can have.
Famous examples of Section 8 companies include Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industries (CII). The objective of these companies is facilitating the growth of trade and commerce and India.
Formation of Section 8 Company
A person or an association of persons can make an application to the Registrar of Companies using requisite forms to form a company with charitable objectives under Section 8 of Companies Act. The Central Government, if satisfied, can accept such an application upon any terms and conditions imposed under the license granted by it. Once accepted, the Registrar of Companies will register the company after the applicants pay all requisite fees.
It is important to note that such companies can only be limited companies. All privileges and obligations of limited companies apply in this case. Further, these companies also do not need to include the words Limited or Private Limited in their names, as all other companies have to.
Since the existence of such companies is based on the license granted to them, they cannot even alter their memorandum or articles of association without the Central Governments permission. They also cannot do anything that the license disallows.
Receiving Documents & Apply, DIN & DSC 1-2 Days
Drafting MOA and AOA. 3-5 Days
INC-1 for name reservation, INC-12 for Licence (Depends upon different ROC) and Spice Form 32 6 to 9 Days
Certificate Of Incorporation, PAN & TAN 10 to 12 Days
In case of Section 8 Company, minimum no. of director is two.
In case of Section 8 Company, minimum capital required is Rs.1,00,000/-.
MOA & AOA of the company defines all the rules and regulations and the working flow of company. It also defines everything about the company's objects, capital, identity, goals and working pattern. After the name of the company is select the Memorandum of Association and Articles of Association of the company is required to be drafted, the last page of the MOA and AOA is known as subscriber sheet which need to be filled in by the promoters in their own hand writing including their personal details and shareholding ratio.
. Apply for PAN and TAN . Apply for Sales Tax / Service Tax Registration based on the nature of Business. . Filing ADT-1 for Appointment of First Auditor of the Company within 1 Month of Incorporation of Company and in case the Board fails to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an Extra Ordinary General Meeting appoint such auditor and such auditor shall hold office till the conclusion of the first Annual General Meeting. . Filing Income Tax Return of Company on or Before 30th September every year . To maintain proper Books of Accounts . Get your account books Audited Every Year.
Digital Signature Certificate (DSC) as the name suggests it is a digital signature of an individual and it is required for filling the e-forms of company incorporation electronically to Ministry of Corporate Affairs.
The Director required to be above 18 years of age and must be a natural person. He may or may not be citizen or residence of India. We can say that even a foreign nationals can be Directors in Indian Private Limited Company.