How to register section 8 Company in Chennai

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How to register section 8 Company in Chennai

Planning to start a company for a cause in Chennai? 

Registering a Section 8 Company in Chennai is the best way to start an organization for a cause legally. 
Section 8 companies are an excellent way for non-profits and social enterprises to get started. They offer tax benefits and exemption from many filing requirements, making the process much simpler for organizations just starting out.
In India, you can register your not-for-profit organization with the Registrar of Societies under the Companies Act of 2013. The two basic requirements to register as a Section 8 Company in Chennai are there needs to be a minimum of two directors and no need to have minimum paid-up capital as a Section 8 Company. 
Non-governmental organizations registered as a Section 8 company as a more significant role to play in the society to work towards a specific cause for the benefit of the others without the objective of profit-making. 
Having a Section 8 Company license allows the company to avail of certain tax exemptions that a company registered as a private or public limited company cannot enjoy. 
So, if you are looking for expert assistance to handle all your paperwork regarding Section 8 Company registration, our team at the eAuditor Office will take care of the entire process and clear all your queries along the way. 


How to register section 8 Company in Chennai and Section 8 Company Registration Procedure?

Section 8 company registration in India is more superb and wonderful concept. it's a nonprofit entity engaged in social service for the good thing about the country. The registration may be divided into three parts:

# Prepare DSC and file Name Approval of Section 8 Company: the primary step is to arrange DSC and DIN. This takes sometime one to 2 days. Once done, you have to go for name approval with the help of best auditor office in Chennai which is e Auditor Office team. The name should be unique and will end with words like foundation, etc.

# Section 8 Company Registration Process: After getting name approved, the subsequent step is to arrange all the documents so apply for license to the regional director via form INC 12. This approval takes most of the time.

# File for Incorporation: After getting the license, we'd like to file for incorporation and once company is incorporated, you'll start the social service under this company.

Advantages of Section 8 Company

A Registration of Section 8 Company provides a variety of advantages, unlike a Trust or Society. Following are the benefits of Section 8 companies:
Tax benefits of Section 8 Company: As Section 8 companies aren't for profit, so that they benefit the exemption from taxation under Sec. 80G of the tax Act yet as various other tax deductions and benefits.
Section 8 Company Registration Fees: Section 8 companies don't require to pay revenue enhancement on the MoA and AoA, unlike a private or public company.
Minimal share capital: in contrast to other limited companies like private, public, or one person, a bit section 8 company doesn't require greatly share capital to make the entity. The members can straight away employ the funds from their donations or subscriptions.
Separate legal entity: Section 8 company enjoys perpetual existence and distinct legal entity which means the Company’s existence is become independent from its members.

Disadvantages of Section 8 Company Registration

No distribution of profits:
The members of a bit section 8 company cannot distribute the profits between themselves. The earnings employed just for the progress of the Company’s aspiration.
Amendment in MOA and AOA: a bit section 8 company cannot amend/alter the MoA or the AoA without obtaining the approval of the Central Government.
Zero benefits: The members of a section 8 company don't get any perks or profits from the corporate, they're only allowed to reimburse their pocket expenses.
Limited objective: the first aim of Section 8 companies is to utilize the profits and income of the corporate within the promotion of particular fields only and not for other purposes.

Documents required for Section 8 Company Registration
Directors’ PAN, Aadhar, Passport size photo, DSC, bank statements which are not older than 1 month, EB bill of the registered office address and passport if available or else voter id or driving license.

Section 8 Company Registration Online
Get your company incorporated as a Section 8 Registration online in India through E-Auditor Office. Learn about the steps and documents required for Section 8 Registration. How to get Section 8.
 

 

FAQ

A minimum of two directors are required to register a company under Section 8 of the Companies Act.

If an auditor is not appointed within 30 days of registration, there will be no fine or penalty, but the shareholders must be informed about this.

Yes, GST applies to section 8 companies if they are involved in any income-generating activities.

The Director must be a natural person above 18 years of age and should be competent to enter into a contract. He/she can be an Indian or also a foreign national.

Yes, it’s possible after complying with a detailed procedure and taking approval from RoC.

In general, it's not necessary for an NGO to get registered if they are about to perform charitable or welfare activities. But, NGO registration does provide various benefits such as income tax exemptions and building trust.

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