If you want to register your firm or organization as a section 8 Company, then we, TheTaxTellers will help you to registration process, its terms and conditions, eligibility criteria etc. So you can be register a section 8 Company.
What is Section 8 Company?
A section 8 Company is NPO(Non-Profit Organization), like it is registered as NPO. Objectives of NPO are promotion of arts, science, commerce, science, education, welfare, sports, religion, protection of environment, research or those which intends to promoting its objects. Section 8 Company’s functions exactly like a limited company including all the privilege and obligations which comes under such company.
The income of the company must be used to promote only charitable things and can’t pay any bonus to the member of the company. The central government provides an incorporation certificate to all the organizations and the companies has to follow the restrictions and conditions. In any case, if they don’t fulfill them, then central government will order to wind up the company. If there could be any fraud activities are proved, then central government can take a legal action against the officers of the company.
Who can apply for registration of Section 8 Company?
Any person, who is intending to register a limited liability corporate can apply for registration of Section 8 Company.
The objects could be promotion of education, arts, science, commerce, social welfare, charity and protection of environment etc.
The company, which is registered as Section 8 Company, can intend to apply its profits.
Eligibility Criteria:
For registration of Section 8 Company, minimum 2 persons are required and one of them should be Indian citizen and resident of India.
Compliance:
TheTaxTellers offers a comprehensive section 8 company accounting and compliance management solutions.
Following these instructions, any company can register a Section 8 Company, if any query, our experts and professionals are available at 24*7.For more instruction, visit us on: https://taxtellers.com/