The charitable company is registered under Section 8 of the Companies Act, 2013, which provides it special status due to its objects. Compared to other types of companies, Section 8 company enjoys various exemptions and relaxations.
With its registration under Section 8 of Companies Act, it obtains a special status – distinct from other entities. Not only the company enjoys tax exemptions, but also the donors can claim an exemption for the donation made (under Income Tax). Apart from tax exemption, the company is also exempted from the applicability of many compliance-related provisions.
Being registered as a company, it obtains a separate identity apart from its members. Therefore, it can own and hold the assets and liabilities in its own name irrespective of the connection with the members. The change in members or the directors neither affects its existence or the assets & liabilities or rights & obligations.
A company registered under Section 8 ensures limited liability to its members. The liability of the members is limited only to the extent of the capital subscribed and unpaid. The losses and obligations do not create a charge over the personal properties of members or directors. This helps the promoters to freely run the non-profit organisations.
Although the company enjoys the benefit of the corporate entity, it is not labelled as the corporate entity. The company does not need to add the suffix “Private Limited” or “Limited” after its name. This exemption is provided so that third parties offer their attention to the company’s purpose and not its status assuming it is profit making organisation.
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Days 11 - 14
Days 15 - 18
Days 17 - 18
Latest Passport size photograph of Shareholders and Directors.
PAN Card of shareholders and Directors. Foreign nationals must provide a valid passport.
Telephone Bill /Electricity Bill/ Latest Bank Account Statement of Shareholders and Directors
Electricity Bill/ Telephone Bill of the registered office address in India
No Objection Certificate to be obtained from the owner(s) of registered office
Rent Agreement of the registered office should be provided, if any
Estimated Statement of Income & Expenditure for next three years