Section 8 Microfinance Company Registration

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Section 8 Company Registration - Online Process, Documents Required, Cost

Section 8 company registration is the most popular form of NGO registration and has more credibility among donors, government and other stakeholders. It has more benefits than traditional charitable institutions and is registered under the Companies Act, 2013.

The main objective of Section 8 company is to promote arts, sports, commerce, science, religion, social welfare, charity and environmental protection. Section 8 company can be registered both as a private limited company or a public limited company.

At Docs Uncle, Our Team of experts will help you register your Section 8 company in a seamless manner without you being worried about the documents and registration process. We will take care of all the documents and registration requirements and do the incorporation in the most efficient way due to our years of experience in Company registration.

What is Section 8 Company?

A Section 8 Company is a modern and efficient form of a charitable institution designed to promote social welfare and nonprofit activities. It offers numerous advantages over traditional registrations such as Societies and Trusts. This form of NGO registration has gained significant popularity in India due to its ease of registration, operational efficiency, and simplified management.

A Section 8 Company, as a legal entity, is specifically designed to advance non-profit objectives for the betterment of society. These objectives encompass a wide range of areas, including commerce, art, science, sports, education, research, social welfare, religion, charity, environmental protection, and other charitable purposes. The primary aim of a Section 8 Company is to contribute to the well-being of the community and the world at large.

Since April 1, 2021, all Non-Governmental Organizations (NGOs) are required to submit the CSR-1 Form on the Ministry of Corporate Affairs (MCA) portal to register with the Central Government. This regulatory move by the MCA reflects a commitment to enhancing the oversight of Corporate Social Responsibility (CSR) spending in India.

Essential Requirements for Section 8 Company registration

  • Minimum 2 Directors for Section 8 Company (Private Limited) Registration
  • Minimum 3 Directors for Section 8 Company (Public Limited) Registration
  • At least one director should be a resident of India for Section 8 Company Registration
  • Registered Office Address for Section 8 Company Registration
  • Objective of the Company for Charitable or Social Purpose for Section 8 Company Registration
  • Profit Distribution for Section 8 Company Registration

Process of Section 8 Company registration

Step-1
Application for Digital Signature Certificate (DSC) for Section 8 Company Registration

Section 8 Company incorporation is a complete digital process and therefore requirement of Digital Signature Certificate is a mandatory criteria. Directors as well as subscribers to the memorandum of the company need to apply for a DSC from the certified agencies. Obtaining a DSC is a complete online process and it can be done within 24 hours. This process involves 3 simple verifications that are document verification, video verification and phone verification.

Step-2
Application for the Name Availability

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Step-3
Application for Section 8 License

For obtaining the license under Section 8 Company, Form INC-12 is required to be filed with the Registrar of Companies. Prior to issuance of Certificate of Incorporation for Section 8 company, approval letter under Section 8 of Part 1 i.e, License under Section(1) of the Companies Act, 2013 is issued from the Ministry of Corporate Affairs. Once the form is approved by the Central Government, ROC will issue a 6-digit Section 8 license number.

Step-4
Filing of SPICe Form (INC-32)

Post name approval, details with respect to registration of the company has to be drafted in the SPICe+ form. It is a simplified proforma for incorporating a company electronically. The details in the form are as follows:

  1. Details of the Company
  2. Details of Members and Subscribers
  3. Application for Director Identification Number (DIN)
  4. Application for PAN and TAN
  5. Declaration by Directors and subscribers
  6. Declaration and certification by Professional
Step-5
Filing of e-MoA (INC-33) and e-AoA (INC-34)

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Step-6
Issuance of COI

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Benefits of Section 8 Company registration

01Eligible for grant and donations

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02Exemption to the donors

Those donating to a Section 8 Company are eligible for tax exemptions under 80G of the Income Tax Act.

03Tax Benefits

There are many tax benefits for Section 8 companies in India.

04Separate Legal Entity

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05No Minimum Capital

There is no requirement of minimum paid-up capital for the Section 8 Company registration.

06Credibility

Section 8 Company establishes its credibility in the market by holding the License issued by the ROC and engaging in various charitable activities.

07Section 8 License

The Registrar of Companies provides License to Section 8 Companies in Form INC-16.

Register Your Section 8 Company Online with Docs Uncle

The process of registering your company as a Private Limited Company can be complex and involves various compliance requirements. Our experts at Docs Uncle can streamline the entire registration process for you. Register your company online in 3 simple steps:

Step 1:
Get in touch via call or contact form

Step 2:
Provide necessary documents

Step 3:
Get your incorpation registered in 10 days

Documents required for Section 8 Company registration

As per the Companies Act 2013, you need to provide proper identity and address proof to be submitted on the Ministry of Corporate Affairs (MCA) portal for Section 8 company registration.

Identity and Address Proof of Directors/Shareholders

  • Passport size photographs of the directors
  • Copy of Aadhar Card
  • Copy of Driving License or Voter ID
  • Copy of Driving License or Voter ID
  • Copy of PAN Card
  • Copy of Bank Statement or Utility Bill (not older than two months)
  • Copy of Passport (in case of foreign national or NRI)

Address Proof of the Registered Office

  • Copy of Electricity or Any Other Utility Bill (not older than two months)
  • Rent Agreement (if rented)
  • No Objection Certificate (NOC) from the Owner of the Property

Section 8 Company Firm Registration Fees

The total fee for OPC firm registration in Rs. ₹7,499 Only which includes the Government fee as well professional fee of Docs Uncle.

  1. Digital Signature Certificate: The cost of ₹2,000 remains unchanged, but it's important to note that this amount could be related to various fees or expenses, depending on the context.
  2. Government Fee: The amount of ₹1,500 remains unchanged and is still a specific monetary value. Depending on the context, it could refer to fees, costs, or expenses associated with a particular process or service.
  3. Professional Fee: The value of ₹3,999 remains unchanged. Depending on the context, it could refer to a specific cost, fee, or expense associated with a particular service or transaction.
  4. Total Fee: The value of ₹7,499 remains unchanged. Depending on the context, it could refer to a specific cost, fee, or expense associated with a particular service or transaction.

Time required for Section 8 Company registration

On average, it takes around 7-10 working days for registration of Partnership firm in India subject to document verification by the concerned authorities.

Explore our company incorporation packages.

Basic

Suitable for Startups

₹7,499

Services Offered

  • OPC Incorporation Certificate
  • DSC for Partners
  • DPIN for Partners
  • Stamp Duty Charges
  • OPC PAN & TAN Application
  • Drafting of MOA & AOA
  • Company Master Data
  • OPC Agreement Drafting
  • EPF Certificate
  • ESIC Certificate

Standard

Suitable for Businesses

₹14,999

Services Offered

Basic Plan

  • GST Registration
  • Auditor Appointment
  • Commencement of business
  • Issuance of Share Certificate
  • MSME Registration
  • Copies of Business Documents

Premium

Suitable for Corporates

₹34,499

Services Offered

Standard Plan

  • Trademark Registration
  • Current Account Opening Support
  • Annual Compliance
  • Startup India Registration

Frequently Asked Questions (FAQs)

Section 8 company is a type of company which is established for Non-profit motive. To start a company that is engaged in social welfare objectives, section 8 company registration is required.

The required fee for Section 8 Company Registration in India is ₹7,499 including government fees as well as professional fees of Docs Uncle.

To register a company in India, you need to hire a professional to get your section 8 company registered.Contact Docs Uncle for Section 8 company registration consultancy in India.

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