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Steps for Section 8 Company (Corporate Trust) Registration

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Upload KYC Documents
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  22199/-

Section 8 Company (Corporate Trust) Registration

Inclusive of all taxes

What you get?

  • One Name Approval
  • Authorised Capital 10 Lakhs
  • Incorporation Certificate
  • 2 DSC
  • PAN Card
  • TAN (TDS)
  • MOA & AOA
  • Share Certificate
  • Company Compliance Booklet
 
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You have to submit following documents / information

  1. Two Proposed Name of the Company
  2. Products / Services details of Organisation
  3. Nature of Business
  4. Directors' KYC:
    • (a) PAN Card
    • (b) Aadhar Card
    • (c) Photo
    • (d) EMail ID
    • (e) Mobile No
    • (f) Education details
    • (g) Place of Birth
    • (h) Bank Statement
    • (i) Voter ID Card or Driving license
    • (j) Passport (if any)
  5. Business Registered Address Proof
    • (a) Electricity Bill (within 2 months)
    • (b) NOC & Rent Agreements (if rented property)
  6. Authorised Capital Amount
  7. Paid up Capital Amount

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FAQ

As per section 8 of companies act, 2013, a company can be formed with the motive of Non- profit organisation (NPO) when it has motive of promoting arts, commerce, education, charity, protection of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives.

  • (a) Minimum 2 Shareholders
  • (b) Minimum 2 Directors
  • (c) At least 1 of the Directors shall be an Indian Resident
  • (d) The directors and shareholders can be the same person.
  • (e) Minimum Authorised Share Capital to be Rs.5 Lac
  • (f) DIN (Director Identification Number) for all Directors
  • (g) DSC(Digital Signature Certificate)for Directors, Shareholders & Witness
  • (h) 1 Witness for MOA / AOA Subscribers
  • (i) No RBI Approval is required.

Points

Nidhi Company

Section 8 Co.

Micro Finance

Members

7

2

2

Minimum Capital Required

5 Lacs

No any limit

2 crores

RBI Licence

No Need

No Need

Required

Profit Sharing

Yes

No

Yes

Compliance

Moderate

Moderate

High

Profit Earning

Yes

No

Yes

Incorporation Cost

Nominal

Nominal

High

Suitable for

Secured Loans & Deposits

Unsecured Loans

A secured & unsecured loans

Nature of Company

Limited

Can be publicĀ  Ltd or Pvt. Ltd.

Can be publicĀ  Ltd or Pvt. Ltd.

Working Area

District Level

PAN India

PAN India

Saving Account Opening Facility

Yes

No

No

Deposit Facility

Yes

No

No

Every section 8 company has to file an annual return to the ROC of respective States.

AOC-4 and MGT-7 is required to file every year.as annual return.

Yes, a separate PAN card is required for a nidhi company because a section 8 company is a separate entity from owners.

As per GST Act, GST registration is mandatory if turnover exceeds Rs 20/40 lakhs but practically many banks require a GST certificate at the time of opening a bank account.

GST monthly/quarterly return is mandatory for all types of business i.e. even in case of NIL turnover GST return is mandatory to file every month/quarterly.

Yes GST registration Number can be surrendered with valid reason

No tax will be levied if section 8 companies will be registered under section 12 A of Income tax act.

Basic Features

Charitable objectives

Section 8 companies do not aim to make profits. Their objectives are purely charitable in nature. They aim to further causes like science, culture, research, sports, religion, etc.

No minimum share capital

Section 8 companies, unlike all other companies, do not require a prescribed minimum paid-up share capital.

Limited liability

Members of these companies can only have limited liability. Their liabilities cannot be unlimited in any case.

Government license

Such companies can function only if they have the Central Government's license. The Government can revoke this license as well.

No Personal use of assets

People generally prefer to conduct charitable activities by forming Section 8 companies instead of regular NGOs and associations. This is because they have limited liability, so their personal assets will not be used in paying debts of the company.

Firms as members

Apart from individuals and associations of persons, Section 8 also allows firms to be members of these companies.

Taxation Impact

Tax Impact: Section 8 Company is a non-profit organization that is why they are exempted from some provisions of the income tax. They are also given numerous other deductions and other tax benefits. They avail benefits under section 80G of the Income Tax Act, 1961. They also are required to pay less stamp duty as compared to other organizations.

Other Compliances: Like other company Section 8 companies are also required to file an annual return with ROC in every year. An audit is mandatory and Additional compliances to fulfill the registration like 12AA, 80G, etc.