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Online Registration for Section 8 Companies

Non-Governmental Organizations (NGOs) in India have the option to register as a trust under the Trust Act 1882, a society under the Societies Act 1860, or as a Section 8 company under the Companies Act 2013. Opting for Section 8 company registration involves the process of incorporating an NGO, providing the flexibility to engage in activities promoting Art, Commerce, Science, Technology, Sports, Education, Social Welfare, Social Research, Religion, Charity, and Environmental Protection, among others. Once registered, a Section 8 Company has the liberty to operate anywhere in India.

Understanding Section 8 Companies

Considered an upgraded form of registration, Section 8 companies offer numerous advantages for charitable institutions compared to societies and trusts. It has become the preferred choice for NGO registration due to its streamlined registration process, operational ease, and efficient management. The primary objective of a Section 8 company is to advance non-profit causes, spanning various areas such as commerce, art, science, sports, education, research, social welfare, religion, charity, and environmental protection.

Mandatory CSR Registration for NGOs

Since April 1, 2021, NGOs are required to file Form CSR-1 on the Ministry of Corporate Affairs (MCA) portal to register with the Central Government. This initiative enhances the monitoring of Corporate Social Responsibility (CSR) expenditures across the country. The CSR-1 Form, available on the MCA website, is now a mandatory requirement for social organizations seeking CSR funds or acting as CSR implementing agencies.

Documents Required for Section 8 Company Registration

To initiate Section 8 company registration, the following documents need to be submitted:

PAN Card of all directors and shareholders

Aadhaar Card of all directors and shareholders

Recent Bank Statement of all directors and shareholders

Phone Bill or Electricity Bill of all directors and shareholders

Voter ID, Passport, or Driving License of all directors and shareholders

Passport size photo of all directors and shareholders

Rental agreement copy if the registered office is rented.

Registration Process for Section 8 Companies

The process of registering a Section 8 company involves the following steps:

Obtain a Digital Signature Certificate (DSC).

File Section 8 Incorporation Forms on the MCA Portal.

Upon regional director approval, submit the Section 8 company registration application and necessary documents on the MCA portal.

Provide required clarifications to the Registrar of Companies (ROC) during the process.

Upon satisfactory submission, the ROC issues a Certificate of Incorporation and a distinctive Company Identification Number (CIN).

Submission of Memorandum of Association (MoA) and Articles of Association (AoA) follows the issuance of the license. Before completing the registration, ensure the acquisition of Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), and a bank account for the company.

Requirements and Compliances for Section 8 Company Registration

Section 8 companies must adhere to certain requirements and compliances:

Minimum of two directors and two members for incorporation.

No minimum share capital requirement.

Charitable objectives and prohibition of profit distribution among members.

Governance by a Board of Directors, as specified in the MoA and AoA.

Compliance with rules and regulations under the Companies Act 2013.

Adherence to the provisions of the Income Tax Act.

GST registration if goods and services exceed the prescribed turnover limit.

Registration Fees for Section 8 Companies

The approximate registration fees for Section 8 companies in India are as follows:

DSC & DIN: Around Rs. 3,000

Company Name Reservation: Approximately Rs. 1,000

MoA, AoA, Government, and Incorporation fees: Rs. 6,000-8,000*

Notary and Stamps: Approximately Rs. 2,000

Professional Fees: Rs. 8,000-10,000*

Note: Figures are approximate and subject to variation based on various factors.

Benefits of Section 8 Company Registration

Section 8 companies offer various benefits, including:

No minimum capital requirement.

Eligibility for tax benefits under the Income Tax Act.

No stamp duty on incorporation.

Separate legal identity for the company.

Enhanced credibility due to strict compliance requirements and mandatory annual audits.

Exemption for donors under Section 80G for tax benefits.

Annual Compliances for Section 8 Companies

Section 8 companies are required to fulfill annual compliances, including:

Minimum of two board meetings annually.

Maintenance of proper books of accounts.

Preparation of annual financial statements, including the balance sheet, profit and loss account, and cash flow statement.

Mandatory annual audit of financial statements.

Conducting an annual general body meeting within six months of the financial year-end.

Income tax return filing and filing of financial statements with the ROC using Form AOC-4.

Filing of an annual return in Form MGT-7, providing information about directors, shareholders, and other key details.

Fulfillment of additional compliances based on specific registrations, such as obtaining 12AA registration for tax exemption or 80G registration for donor tax benefits.

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What is Section 8 Company? Documents, Procedure

A Section 8 Company is a type of nonprofit organization in India, regulated by the Companies Act. Its primary objective is to promote charitable or not-for-profit activities in areas like education, art, science, and social welfare. Unlike other companies, Section 8 companies do not distribute profits among their members and use any surplus for promoting their objectives.

Documents or Details Required for Section 8 Company Registration

To register a Section 8 Company in India, you typically need the following documents and details:

Memorandum of Association (MOA): This document outlines the company's objectives and the scope of its activities.

Articles of Association (AOA): This document defines the company's internal rules and regulations for management and administration.

Declaration by Directors: A declaration by each of the proposed directors stating that they have not been convicted or found guilty of any offense in connection with the promotion, formation, or management of any company.

Affidavits: Affidavits from the directors and subscribers declaring that they are not associated with any other Section 8 company with similar objects.

Address Proof: Address proof for the registered office of the company.

Identity Proof: Identity proof (PAN card) of all directors and subscribers.

Passport-sized Photographs: Passport-sized photographs of all directors and subscribers.

Utility Bills: Utility bills (electricity, water, etc.) or property tax receipt for the registered office address.

Approval from Appropriate Authority: If the proposed name contains any words that require approval from the central government or any authority, then the approval should be obtained.

Which types of Name can be used as the end of Section 8?

The name of a Section 8 Company in India should reflect its objectives and should not resemble the name of any existing company. The name should typically end with words like:

Foundation

Forum

Association

Federation

Chambers

Confederation

Council

Charities

Trust

Society

Organization

Institute

Is Trust, Society and Section 8 Company same?

Trusts, Societies, and Section 8 Companies are different legal entities commonly used for charitable or nonprofit activities in India:

Trust: A trust is a legal arrangement where a trustee holds and manages property for the benefit of beneficiaries. Trusts are governed by the Indian Trusts Act. They are often used for charitable and religious purposes.

Society: A society is formed under the Societies Registration Act. It is a membership-based organization that can be established for promoting literature, science, arts, education, charity, or any other useful purpose. Societies typically have a governing body and members.

Section 8 Company: A Section 8 Company, as per the Companies Act, is a nonprofit organization established for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, or any other charitable purpose. Unlike trusts and societies, it is a company incorporated under Section 8 of the Companies Act.

While all three serve similar purposes of promoting charitable or nonprofit activities, they differ in their legal structures, formation processes, and regulatory frameworks. The choice between a trust, society, or Section 8 Company depends on the specific requirements and preferences of the individuals or entities involved.

Procedure to Register Section 8 Company

The procedure to register a Section 8 Company in India involves several steps:

1. Name Approval:

Choose a unique and suitable name for the company that complies with naming guidelines.

Apply for name availability through the Ministry of Corporate Affairs (MCA) website.

2. Obtain Digital Signatures:

Obtain Digital Signature Certificates (DSC) for all proposed directors. This is required for online filing of documents.

3. Apply for Director Identification Number (DIN):

Directors need to apply for DIN if they don't have one. It can be obtained online from the MCA.

4. Drafting of Memorandum and Articles of Association:

Draft the Memorandum of Association (MOA) and Articles of Association (AOA) detailing the objectives and rules of the company.

5. Declaration by Directors and Subscribers:

Directors and subscribers need to sign a declaration stating that they have not been convicted or found guilty of any offense related to company management.

6. Application for License:

Prepare and file an application for a license under Section 8 with the Regional Director through the MCA.

7. Approval from Regional Director:

The Regional Director reviews the application and may request additional information. If satisfied, they grant the license.

8. Incorporation:

After obtaining the license, submit the incorporation documents including MOA, AOA, and other required details to the Registrar of Companies (RoC) for final incorporation.

9. Registered Office:

Provide proof of the registered office address.

10. Certificate of Incorporation:

Once the RoC verifies the documents, they issue the Certificate of Incorporation, officially establishing the Section 8 Company.

11. PAN and TAN Application:

Apply for the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the Section 8 Company.

Why should I register under section 8, because it is a company?

Registering under Section 8 provides certain advantages for organizations aiming to operate as nonprofit entities with charitable objectives. Here are some reasons why you might choose to register under Section 8:

Legal Recognition: Section 8 registration provides legal recognition to an organization as a nonprofit company. It is a separate legal entity, distinct from its members, which enhances credibility and legitimacy.

Limited Liability: Members of a Section 8 Company have limited liability. This means their personal assets are generally protected from the company's liabilities.

Perpetual Succession: A Section 8 Company enjoys perpetual succession, meaning its existence is not affected by changes in its membership. It continues to exist until it achieves its objectives or is dissolved according to legal provisions.

Tax Exemptions: Section 8 Companies may be eligible for tax exemptions under the Income Tax Act, making it more attractive for donors and contributors.

Fundraising Opportunities: Being a legal entity, Section 8 Companies can easily raise funds through donations, grants, and other fundraising activities to support their charitable purposes.

Greater Credibility: Registration under Section 8 enhances the credibility of the organization, as it is subjected to regulatory oversight and compliance requirements.

Access to Grants and Funding: Many government and non-government organizations prefer to provide grants and funding to registered nonprofit entities, and Section 8 registration facilitates access to such opportunities.

Limited Profit Distribution: Unlike regular companies, Section 8 Companies are restricted in distributing profits to their members. Any surplus generated is utilized for promoting the company's charitable objectives.

How Vakilkaro helps for Section 8 Company Registration?

Expert Guidance: Vakilkaro provides expert legal guidance throughout the Section 8 Company registration process, ensuring accurate documentation and compliance with regulatory requirements.

Efficient Name Approval: Vakilkaro streamlines the name approval process by assisting in the selection of a unique and compliant name, expediting the initial stage of registration.

Online Document Filing: Vakilkaro facilitates the efficient online filing of essential documents, including Memorandum and Articles of Association, Director Identification Number (DIN) application, and more.

License Application Support: Vakilkaro assists in the preparation and filing of the license application under Section 8, navigating the complexities of the approval process with the Regional Director.

Comprehensive Service: From start to finish, Vakilkaro offers end-to-end support, ensuring a smooth and hassle-free Section 8 Company registration experience, allowing clients to focus on their charitable objectives.

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