SECTION 8 COMPANY

Basic Features to Read before starting Section 8 Company Registration:

1. Incorporation of Section 8 Company:

MCA provides the facility for the incorporation of section 8 company. For incorporation firstly apply for name through RUN (RESERVE UNIQUE NAME) on the MCA portal. After the availability of name from ROC, we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), and attach various required documents for incorporation of section 8 in Spice 32.

Apply For Name Through RUN Web Form

For incorporation of section 8 company firstly we should check the availability of name on the MCA portal after that we should apply for name through RUN web form on the MCA portal along with fee RS.1,000. On submission of the RUN web form, MCA personnel should check that the name is unique and not similar to other existing companies and trademark. After that, if the name is unique and not similar than MCA personnel reserve the name for the company and intimate through e-mail. After the reservation of name, we should incorporate the company within 20 days from the date of approval.

Director Identification Number

Every person who wants to become a director in a company shall have a valid Director Identification Number (DIN).  For obtaining DIN he/she shall make an application in form DIR-3 or in Spice.

Make application in Spice form for incorporation

• For the incorporation of the company, we should make an application in the Spice form. In case incorporation of the company having more than 7 subscribers or any of the subscribers of MOA and AOA a signing a place outside India than MOA and AOA shall be file along with Spice form i.e. INC32. Or in case a company has less than 7 subscribers we should file INC 33(eMOA) and INC34 (eAOA).
• In SPICe, we can avail DIN up to 3 directors, name reservation, incorporation of a company, allotment of PAN and allotment of TAN with the help of Form SPICe. Maximum 3 directors particulars are allowed in the SPICe Form.
• There is no requirement to file Form INC-22 in a case the registered office address is the same as the correspondence registered address of the company.

2. Annual filling of Section 8 Company:

There are some mandatory compliances that Section 8 Company must ensure.

• Minimum 4 Board Meeting to be held in every Financial year.
• Appointment of Auditor in Form ADT-1.
• Hold Annual General Meeting every year within 6 months from the closing of the Financial Year. And first AGM to be held within 9 months from the closing of the first Financial Year.
• File Financial Statement in Form AOC-4 within 30 days of holding of Annual General Meeting.
• File Annual Return in Form MGT-7 within 60 days of holding of Annual General Meeting.
• Statutory Audit of Accounts audited by Chartered Accountant at the end of the Financial Year.

3. Documents required for Section 8 Company Registration:

Some important document required for section 8 company:

1. Utility bill of registered office not older than 2 months.
2. Bank statement of all subscribers and directors for their residential proof, further It should not be older than 2 months (Optional attachment- the electricity bill, telephone bill, mobile bill)
3. All documents should be scanned in a legible format and the size of per document does not exceed 30 Kb.
4. Aadhar card, PAN card of all subscribers and directors in a legible format.
5. Rent agreement for registered office.
6. No objection certificate from the owner of the registered office.
7. Driving license/ Passport/ Voter Identity Card of all subscribers and directors for identity proof.
8. Memorandum of Association.
9. Article of Association.

4. Benefits for Section 8 Company:

• There is no minimum capital requirement.
• Exempt from stamp duty on registration of MOA and AOA of the company.
• Many privileges and exemptions under the Company Laws.
• Section 8 Companies are exempted from the requirement of appointment of independent directors and all the consequential provisions relating to Independent directors under section 149(1) of the Companies Act, 2013.

Company Suggestion provides services of Company incorporation and Compliances of :

Public limited company registration

 Private limited company registration

 Limited Liability Partnership Registration

 Section 8 company registration (NGO)

Partnership firm registration and Proprietorship registration,  Income Tax Returns, GSTRegistration, TDS Returns and GST Returns etc.

Our experts of team will guide you related to compliances of Companies, Firms and other entities if you have any doubt regarding this, then you can send your doubts on company suggestion and clear it.