Section 8 Company
A section 8 company is one similar to a trust or a society, the only difference being, a section 8 company is registered under the Central Governments Ministry of Corporate Affairs. Trusts and Societies are registered under the State Government.
A section 8 company has a wider scope of advantages when compared to a trust or a society. It has improved recognition and better legal understanding.
Minimum requirement for a Section 8 company
Top-End services delivered at Aavana
At Aavana, we provide top-end business and Financial Related services. When it comes to registration of your Section 8 company, we’re your best choice.
Our friendly staff will guide you through the entire process and also give Business Advice which will definitely help you carry out business smoothly.
Here’s your end-end business support. We will definitely take care of your business by giving you the best business advice and also help in Company Registration processes.
Advantages of Section 8 company
Distinct Legal Identity:
Section 8 Company has a separate legal entity. The leak standings vested on a Section 8 company is different from the legal standings of its members. These companies have an organized operation and greater flexibility.
Zero Stamp Duty:
A Section 8 Company is exempted from paying stamp duty on the MoA and AoA of the private or Public Limited Company.
No Minimum Capital Requirement:
No minimum capital limit is required for the commencement of a Section 8 Company. Another advantage is that the capital structure can be altered at any stage as per the requirement of the company growth. The funds necessary for carrying the business operations can be obtained through donations and/or subscriptions from members and the general public. There is no mandatory rule as such for a Section 8 Company to suffix Limited or Private Limited, next to its legal name. Registrations can be done with names that have words like Association, Society, Council, Club, Charities, Foundation, Academy, Institute, Organisation, and Federation.
There are many tax benefits granted to a Section 8 company
Section 8 Companies are reliable and are governed by the Companies Act and are regulated strictly. Alteration in the Annual Audit or the MOA and AOA cannot be done at any stage or situation
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