FAQ ( Frequently Asked Questions )
A Section 8 Company is a type of company incorporated under Section 8 of the Companies Act, 2013. It is formed for promoting commerce, art, science, religion, charity, or any other useful object.
Registering a Section 8 Company offers several benefits, including tax exemptions, limited liability for members, and legal recognition.
Any group of individuals or organizations can register a Section 8 Company, provided they meet the requirements specified in the Companies Act.
Key requirements include a minimum of three members, a specific name, a registered office, and a clearly defined objective that promotes a charitable or beneficial cause.
The time for Section 8 Company registration can vary depending on the efficiency of the registering authority and the completeness of the required documents.
Yes, there are typically fees associated with Section 8 Company registration, including registration fees and stamp duty.
While a Section 8 Company is primarily a non-profit organization, it can generate income to support its activities. However, the profits cannot be distributed among its members.
Section 8 Companies must have a governing body, such as a committee or board of directors, to manage its affairs.
Section 8 Companies are generally exempt from income tax if they meet the specified criteria and utilize their income for charitable or beneficial purposes.
Yes, a Section 8 Company can convert into a profit-making company, but it requires the approval of the Central Government and involves certain formalities.
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