Description
Section 8 Company
Section 8 company is a non- profit organization with a goal to promote art, science, sports, education, research, social welfare, religion and charity. Section 8 company has become the most popular form of non profit organization. There are only 2 structures in which the section 8 company can be registered i.e.
- Section 8 of the Companies Act, 2013(section 25, companies act 1956)
- Trust or Society
Features of Section 8 company:
- Easy to register
- Profit Earning
- Utilization of funds and earnings
Minimum requirements to start a section 8 company:
- 2 shareholders
- 2 Directors
- 1 Director should be resident of India
- No Minimum capital required
- Identity Proof
- Pan card
- 1 Proof of Residence
- Office address proof
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