Section 8 Company Registration Process | How to Register Section 8 Company? | Monisha Chaudhary section 8 finance company

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As per the Companies Act, 2013, # Section8Company refers to a corporation that aims to incentivize arts, sciences, sports, education, environment preservation, social welfare, charity, or other similar objectives. The ultimate objection of registering Section 8 Company is to incentivize non-profit goals such as trade, arts, commerce, education, charity, environment protection, sports research, social welfare, etc. To register a Section 8 entity, at least two directors are required. Also, there is no compulsion of securing minimum Benefits of opening Section 8 company in India Tax Exemption The 100% tax exemption is available to Section 8 companies registered u / s 12AA of the IT Act. The profits generated by such entities are non -taxable in nature because they use the same for charitable purposes. No minimum capital requirement There is no underlying limitation over section 8 entities pertaining to minimum capital requirement, unlike other compani But these entities have the right to change their capital structure in accordance with the growth of the company. No need for paying stamp duty A section 8 Company is not liable to pay stamp duty for registration, unlike other Separate Legal entity A section 8 company holds its own legal identity just like other registered companies & rejoices autonomous legal standing from its member. These entities fit the concept of perpetual existence. Increased Credibility A Section 8 Entity is more credible in terms of compliances and legal standing. Such entities usually function under a tight legal framework developed by the concerned authorities. Unlike NGOs and trust, these entities follow stringent compliances post-registration. No title required Section 8 companies have the leverage to choose the name that suits their liking during the registration process. Unlike other registered structures, they are not bound to affix the term like “Section 8” after their name. Documents required for # Section8CompanyIncorporation Process • Articles of Association (aka AOA) & Memorandum of Association (MOA) • Declaration by the first director (s) as well as a subscriber (s) (Affidavit not required) • Proof of office address • Copy of utility bills such as electricity bill, water bill, or gas bill • Copy of certificate of incorporation (COI) of an overseas body corporate (if any) ) • A resolution passed by the promoter company • Consent of Nominee (INC–3) • Resident and identity proof of nominees & subscribers • Applicant’s identity as well as building proof • DSC • Declaration of unregistered companies For AGILE-PRO: • Proof regarding the principal place of business • Evidence of appointment related to the Authorized Signatory for GSTIN • Letter of Authorization or Resolution copy passed by BOD • Managing Committee as well as Acceptance Letter • Proof of identity related to Aut horized Signatory for the opening of an account in designated bank • Specimen Signature of Authorized Signatory for EPFO ​​The incorporation process of Section 8 Company Following Is The Detailed Process Of Incorporation For Section 8 Companies In India; Step 1: Secure DSC from the MCA authorized agency DSC, ie Digital Signature Certificate, serves as a digital tool for signing various e-forms and scanned copies of documents. It is primarily used by the authorized signatory of the company, such as the Director, partners, managing directors, etc. Step 2 : Visit the MCA portal to file Spice + Form The next step is to visit the MCA portal and create an account on the same. After that, the applicant is required to select the Spice + form option from the Service section located on the top menu of the home page. This would lead the applicant to a brief e-form which entails the two vital parts, A and part B. Part A helps the applicant to register the proposed company name, and PART B offers the given services: • Company Incorporation • DIN allotment • PAN allotment • TAN Allotment • GSTIN Allotment • EPFO ​​Allotment • ESIC Allotment • Opening of Bank Account for the Company • Profession Tax Registration (only for Maharashtra) Step 3: Upload mandatory documents and submit the Form Upload the mandatory documents as mentioned above and make your way to the payment section to submit the standard fees. Know more visit: Phone:- 9121230280 Email:-info@corpbiz.io Want to know more about #Corpbiz? Subscribe to our Corpbiz channel to get the latest updates, tips, and help. Website: Facebook: Twitter: Instagram: LinkedIn :.

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Section 8 Company Registration Process | How to Register Section 8 Company? | Monisha Chaudhary

Section 8 Company Registration Process | How to Register Section 8 Company? | Monisha Chaudhary

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Section 8 Company Registration Process | How to Register Section 8 Company? | Monisha Chaudhary
section 8 finance company
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