A registered trust is recognized by law, which provides legitimacy and can enhance credibility, especially when dealing with donations or grants.
Registered charitable trusts are eligible for tax exemptions under Sections 12A and 80G of the Income Tax Act. This includes exemption from income tax and eligibility for donors to receive tax benefits.
Assets held in trust are protected from personal liabilities of the trustees, and the trust structure can help manage and preserve assets across generations.
Registered charitable trusts can access government grants, donations, and other funding opportunities available for NGOs and charitable organizations. Credibility:
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.
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.
