About Simplify Tax
There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even believable genera on the Internet tend to repeat predefined chunks as necessary making Internet.
Address
Get in Touch
open

 
Slide1 background

Section-8 Company(NGO)

Section-8 Company(NGO)

Section 8 Company under section 8 of the companies Act 2013 erstwhile
known as Section 25 Company under the companiesact 1956 is a company
registered under the Companies Act, 2013 for charitable or not-for- profit
purposes.


Main Objects are:-

  • For promoting commerce, art, science, sports, education, research,
    social welfare, religion, charity, protection of environment or any such
    other object.
  • Provided the profits, if any, or other income is applied for promoting
    only the objects of the company .
  • No dividend is paid to its members.

  • Note

    Apart from trust and socity a section 8 Company is also Ideal business structure for NGO’s and Non Profit Organizations in India.. Section 8 companies are preferred as they are easy to run and get recognition from stakeholders. Under these companies profits can be earned but these profits should be used for the promotion of the object and not for distributing it to the promoters. Section 8 Company is similar to a Trust or Society; exception is that a Section 8 Company is registered under the Central Government's “Ministry of Corporate Affairs (MCA)”whereas the Trusts and Societies are registered under State Government regulations.


    Advantages

  • Section 8 company has higher credibility amongst donors, Government departments and other stakeholders.
  • Exemption from requirement of Minimum Paid-up capital
  • Tax deductions to the donors of the Company u/s. 80G of the Income Tax
  • A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing.

  • Registration

  • Minimum 2 Directors required for registration.
  • Getting DSC(Digital Signature Certificate) & DIN (Director Identification Number) of the proposed directors(if they don’t have.)
  • After name approval Form INC-12 needed to be filed.
  • Along with Form INC-12 one needs to attach the Memorandum & Articles Of association and also comply with various other documentation which we will help you to get done.

Traditional
₹ 1000
  • Unlimited Bandwidth
  • Unlimit Space
  • 100 Database
  • 1000 Email Addresses
Documents
  • Passport size photograph of directos.
  • Address proof of directors.
  • Photo ID proof of directors.
  • Rent agreement of the premises ,if the premises is rented.
  • NOC from the owner.
  • Consent to act as Director in Form DIR-2
  • Directors Directorship details in other Companies/LLPs, if any.

Faq's

What is a sole proprietorship ?

A sole proprietorship is the simple form of Business Structure having one owner and isn't required to register for starting up. Beginning a sole proprietorship is extremely simple and doesn't require a formal filing or paperwork process. All you have to do is simply go into business. A sole proprietor is exempt from tedious paperwork, but is still required to register under different acts for carrying out its business.

How is a sole proprietorship different from other Business Structures ?

Sole proprietorship is a business just like any other business structures, but they vay significantly in the following ways:

  • Sole proprietors are the cheapest business type when it comes to operational and other costs.
  • Sole proprietorships are the least complex of the legally recognized business structures.
  • Sole proprietorships are exempt from mandatory state registration Acts.
  • Sole proprietorships don't require formal paperwork.
  • Sole proprietorships don't shield individuals from business related debts or liability. The liabilities are unlimited and personal properties are also liable.
  • Sole proprietorships don't require a tax filing separate from personal income. Tax filling are same as personal income. Incase of other business structures the filling are done separately.

Can a Sole Proprietorship be converted into a Partnership or Company ?

Yes it can be converted. But additional Partner or Director is required. And compliance should be followed for converting.