6th September 2022, Bengaluru: (https://legalsyne.com/) There exist different forms of companies such as private companies, public companies, personal companies, and many more whose sole motive is to earn profit and are required to be registered as per the Indian company registration act. However, some companies wish to make difference in society and thereby are established to help society. The main motive of such a company is not monetary and thereby is committed to making society a better place. These are known as Non-profit organizations and are covered under register section 8 company.

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These organization not only works for philanthropy purposes but also enables the promotion of art, sports, and many more to provide them with enough support and recognition. There are various benefits for starting and registering a company under section 8. One of the primary benefits enjoyed by these companies is tax exemption. These companies are free from the burden of paying income tax. Apart from this, various other tax benefits can also be availed by companies registered under this section.
For public and private company registration there is a need to pay stamp duty by these, but no such obligation is there for the company to be registered under section 8, thereby further easing the burden of the company. Apart from this, these companies also have no obligation to meet the minimum paid-up capital as in the case of a public limited company as these companies are started to carry out philanthropy work as well as promoting research activities and many more.
The companies registered under section 8 also enjoy the benefit of being separate legal identities as compared to other forms of companies. This thereby allows this company to own tangible and intangible property in their names. The section 8 company also has greater credibility as compared to trusts as these are licensed and regulated by the central government. Hence there are various benefits of registering the company under section 8 but to avail of these benefits, one needs to fulfill various legal requirements that indeed can be overwhelming for many. Apart from this, one needs to ensure all the requirements are duly taken care of as otherwise, it led to a hefty penalty.
It is thereby recommended to avail of the services of professional such as Legalsyne that ensure seamless and hassle-free online registration of section 8 company in India. Legalsyne has been in this field since 2014 and thereby has the good amount of experience and expertise required to provide clients with the best solutions.
About the Company: Legalsyne is the leading platform for company registration in India. This platform provides its clients with expert and experienced services for different company registration such as public, private, and many more. Apart from this, this platform also performs various services in the areas of managing and changing the business thus providing comprehensive solutions to its clients. This company with its professional teams has enabled the best customer experience and thus led to its growing demand in the market.