What Are the Documents Required for Section 8 Company Registration in India

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A Section 8 Company is a type of not-for-profit Company which is established for the promotion of arts, science, commerce, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.

What is Section 8 Company?

A Section 8 Company is a type of not-for-profit Company which is established for the promotion of arts, science, commerce, sports, education, research, social welfare, religion, charity, protection of environment or any such other object. In India, Section 8 Company can be either a Pvt. Ltd Company or a Public ltd Company. The term ‘Section 8’ denotes the section number 8 of the Company Act 2013, which deals with this kind of specialized companies.

Pre-Required Documents For Section 8 Company Registration

The documents required for registration of Section 8 Company in India are as follows:

  • An application for incorporation in the prescribed format
  • MOA (memorandum of association)
  • AOA (Articles of association)
  • A list of directors and their consent to act as such
  • A declaration by an advocate, a professional chartered accountant, or a company secretary in whole-time practice that they have verified the documents and found them to be in order
  • An affidavit by each subscriber to the memorandum of association and director of the proposed company, duly sworn, declaring that:

Procedures of Section 8 Company Registration in India

The Section 8 Company registration process can be divided into the following steps:

  1. Obtaining DSC and DIN
  2. Name Approval from MCA
  3. Drafting MOA AOA
  4. Filing INC-9 with ROC
  5. Certificate of Incorporation
  6. Compliance with Section 8 rules and regulations
  7. Opening a bank account

Let us understand the procedures of Section 8 Company registration in detail:

1. Obtaining DSC and DIN

The first step in Section 8 Company registration is to obtain the Digital Signature Certificate (DSC) and Director Identification Number (DIN). The DSC is issued by any certifying authority licensed by the Central Government for this purpose. The DIN can be applied for through the MCA21 portal.

2. Name Approval from MCA

After obtaining the DSC and DIN, the next step is to apply for name approval from the Ministry of Corporate Affairs (MCA). The application for name approval must be made in Form INC-1.

3. Drafting MOA AOA

The Memorandum of Association (MOA) and Articles of Association (AOA) are the key documents required for Section 8 Company registration. The MOA is a document that sets out the objects of the company, while the AOA defines the rules and regulations for the management of the company.

4. Filing INC-9 with ROC

Once the MOA and AOA have been drafted, they need to be filed with the Registrar of Companies (ROC) along with Form INC-9.

5. Certificate of Incorporation

After the ROC has approved the incorporation, a Certificate of Incorporation will be issued.

6. Compliance with Section 8 rules and regulations

Once the Section 8 Company has been registered, it needs to comply with certain rules and regulations laid down in the Companies Act 2013. These include holding regular meetings of the board of directors, maintaining proper books of accounts, and filing annual returns.

7. Opening a bank account

 

The last step in the Section 8 Company registration process is to open a bank account in the name of the company. This can be done by submitting the required documents to the bank, such as the Certificate of Incorporation, MOA, and AOA.

These are the steps involved in Section 8 Company registration. Section 8 companies are required to comply with certain rules and regulations, but they enjoy some benefits as well. For instance, they are exempt from certain provisions of the Companies Act 2013, such as the requirement to hold annual general meetings. Section 8 companies can also apply for tax exemption under Section 80G of the Income Tax Act.

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