Section 8 company registration in India

Section 8 Company registration in India is intended for non-profit organizations that support charitable causes such as education, art, culture, science, and social welfare. Under the firms Act of 2013, Section 8 firms can operate without a profit motive and can request for tax breaks. To register, the group must have a minimum of two directors and two members. The process entails getting a Digital Signature Certificate (DSC), applying for a Director Identification Number (DIN), and submitting an application to the Registrar of Companies (ROC). The proposed business name, memorandum, and articles of association should all be included in the application, together with a clear statement of the non-profit purposes. Once registered, Section 8 firms are eligible for certain benefits, such as exemption from the minimum share capital requirement and simplified compliance requirements.