Gsagroups will helps you to raise your Section 8 Company registration in a very efficient way which comes under the Section 8 of the Companies Act, 2013 in India which is a non- profitable organization. It is a company formed with the aim of promoting charitable causes such as education, science, sports, culture, research, social welfare, environment, and many more without the intention of making money profits for the members working there. It is fully establish for the charity and the people who are financially weak and not able afford such practices can make use these charity causes for fulfilling their necessary needs. These companies are useful for NGOs, charitable trusts, and social enterprises that aim to work for the public well being. gsagroups.in
Gsagroups provides you the best features:
- Non-Profit Company: Main objective or goal of a Section 8 company is to promote the charity social well being or public welfare activities without generating profit of earning among member.
- No Distribution of money: Like other companies when the profit is made the money is then distributed among all the members of the company as a salary. But in section 8 company all the charity funds are reinvested in the organization only for its development.
- Limited Liability protection: Like a Pvt.Ltd. Company, a Section 8 company provides limited liability to its members, means that their own assets are protected from the company’s debts.
- Minimum Members: This company must have at least 2 members and 2 directors, just like a Private Limited Company.
- Government approved license: To make a incorporate this company, it is necessary to make sure you have a license from the central government which defines that the organization activities are for public welfare only.
- Benefit of taxes: Section 8 companies don’t have to pay taxes to the government or they have a a discount on taxes because they are working in the social sector.
- Credibility and Trust: This company provides more credibility than other forms of non-profit entities. Because this can enhance the organization’s reputation by the potential donors, partners, or government agencies.
- Access to Funding and Grants: It is more likely to attract funding, donations from both domestic and international. because they are viewed as more profit then the other companies. Even it is applicable for the such companies who can receive from foreign donations. And also open for the corporate banks.
- Fund raising events: This company can organize fund raising events who can enter into partnerships with other organizations or governments for project implementation.
Documents Required for Section-8 Company:
- For Directors:
o Aadhar card
o Passport
o Voter ID
o Driver’s License
o Address proofs like utility bills (electricity, water, gas, etc.) should be recent not older than two months.
o Bank statement or credit card statement
o Rental agreement - Passport-sized photographs of the directors.
- Digital Signature Certificate (DSC)
- Director Identification Number (DIN)
- Documents for Company Incorporation:
• Memorandum of Association (MOA)
• Articles of Association (AOA)
• License should be there under Section 8 - Documents required for the Registered Office:
o Address proof of the registrar office
o A copy of the utility bill (electricity bill, water bill, etc.) showing the name of the property owner.
o Rent agreement (if office is on rent place).
o In case of owner property, bill or any tax receipt.
• No Objection Certificate (NOC) - Copy of planning: The company have to submit a copy of detailed planning, scope, or objective of your charity approved by the central government.
- Additional Documents (if needed):
• Income Tax Documents
• Foreign Directors
gsagroups uses the perfect and easy understandable process of registration:
- Make sure to obtain a Digital Signature Certificate (DSC) for directors.
- Then apply for the Directory Identification Number (DIN).
- After that Choose a Name that reflects your non-profitable charity scope.
- Then apply for the section 8 license with the Ministry of Corporate Affairs (MCA).
- Then submit the required documents (MOA, AOA, and government license).
- Then make sure to have a Certificate of Incorporation for starting up the operations for the charitable cause. gsagroups.in
