Section 8 Company Incorporation Services in Karnataka

Section 8 Company Registration in Karnataka

Section 8 Company registration in Karnataka is a legal method that allows non-profit organisations to specify themselves as a company and operate for the promotion of social welfare, arts, education, and charity. Such organisations are managed under the Companies Act, 2013, and are registered with the Ministry of Corporate Affairs (MCA). These companies are allowed to receive donations and grants from the public and government bodies and are suitable for tax exemptions under the Income Tax Act, of 1961. The registration method requires specific documents and compliance with particular regulations, which can be simplified with the help of experienced and professional guidance.

Documents Required for Section 8 Company Registration in Karnataka

Memorandum of Association: This document contains the name, registered office address, objectives, and liabilities of the members of the Section 8 Company.

• 1. Articles of Association:This document contains the rules and regulations governing the internal affairs of the company, such as the rights of the members, the conduct of meetings, the appointment and removal of directors, etc.
• 2. Form INC-12 :This is a declaration form that needs to be submitted to the Registrar of Companies, stating that all the requirements of the Companies Act have been complied with.
• 3. Form INC-7: This is the application form for the registration of the company. It contains the details of the proposed directors and shareholders of the company.
• 4. PAN Card :The Permanent Account Number (PAN) card is mandatory for all the directors and shareholders of the company.
• 5. Identity Proof: Any one of the following documents can be submitted as identity proof - Passport, Driving License, Aadhaar Card, Voter ID card.
• 6. Address Proof: Any one of the following documents can be submitted as address proof - Passport, Driving License, Aadhaar card, Voter ID card, Bank Statement, Electricity Bill, Telephone Bill
• 7. Registered Office Proof: The company should provide proof of its registered office address. It can be any one of the following documents - Lease agreement, Rental agreement, Electricity bill, Telephone bill, Property tax receipt, or Sale deed.

Benefits of Section 8 Company Registration

• Legal Recognition: Section 8 companies are identified as independent legal entities, giving them the ability to own property and enter into contracts.
• Tax Exemptions: Section 8 companies are suitable for various tax exemptions, including income tax and stamp duty, which can remarkably reduce their operational costs.
• Limited Liability: The liability of the company's members is limited to the amount of their contribution towards the company's capital, protecting their personal assets from any possible financial or legal obligations of the company.
• Credibility: Section 8 company registration adds credibility to the organisation, making it more attractive to donors, investors, and other stakeholders. Perpetual Existence Section 8 companies have perpetual existence, indicating that the organisation will continue to exist, regardless of changes in its membership or management. Social Impact Section 8 companies are established for the promotion of social welfare, arts, education, and charity, allowing them to make a positive impact on society and contribute to the betterment of the community.
• Perpetual Existence: Section 8 companies have perpetual existence, indicating that the organisation will continue to exist, regardless of changes in its membership or management.
• Social Impact :Section 8 companies are established for the promotion of social welfare, arts, education, and charity, allowing them to make a positive impact on society and contribute to the betterment of the community.

Eligibility Criteria for Section 8 Company Registration in Karnataka

To be eligible for Section 8 company registration , the following criteria must be met:

• Objectives: The primary objective of the company must be to facilitate social welfare, education, arts, and charity. The profits made by the company should be utilised for the fulfillment of these objectives, and not for the benefit of its members
• Non-profit: The company must be a non-profit organisation, indicating that it should not distribute dividends to its members.
• Minimum members: There must be at least two members at the company (individuals or corporate entities) for registration.
• Directors: The company must hold a minimum of two directors, who must be individuals. One of the directors must be a citizen of India.
• Name: The proposed name of the company must not be similar or identical to an existing company or brand.
• Registered office: The company must keep a registered office in India, which must be held throughout the company's existence.
• Memorandum of Association (MoA) and Articles of Association (AoA): The MoA and AoA of the company must be organised and submitted during the registration process, outlining the company's purposes, management structure, and rules and regulations.
• Compliance: The company must comply with all relevant laws and regulations, including the Companies Act, of 2013, and the Income Tax Act, of 1961.

Section 8 Company Registration Offline

To register a Section 8 company in Vakilsearch, you need to follow these steps:

• We can assist you to register your Section 8 company in Vakilsearch. Our expert team will direct you through the entire process, providing accuracy and efficiency.
• Firstly, we'll assist you in getting DSCs and DINs for your proposed directors. Then, we'll apply for name availability by submitting your proposed company name to the ROC.
• After name approval, we'll file the incorporation documents (MOA and AOA) with the ROC and satisfy all regulatory conditions. This includes getting a Certificate of Incorporation, applying for PAN and TAN, and registering under GST(if needed).
• In addition, we can support you in getting any required licenses or permits for your charitable activities as a Section 8 company. We realise the importance of compliance and will assist you in meeting all reporting responsibilities and keeping proper financial records.

Section 8 Company Registration Online

We at Vakilsearch provide an easy and quick way to register online for Section 8 Company Registration. Here are the few steps involved:

• Register your company on the Vakilsearch site by providing the required details, such as company name, registered office address, and directors' details.
• Select a convenient package and make the payment.
• Vakilsearch will then confirm the provided details and file the required documents with the Registrar of Companies.
• Upon approval, the Certificate of Incorporation will be issued, and the company will be registered.

Why Vakilsearch?

Vakilsearch is a trusted and respectable choice for Section 8 company registration in India, with a team of knowledgeable experts who can provide expert guidance throughout the registration process. Their online registration service is fast and easy, allowing clients to complete the process from the comfort of their homes or office. Vakilsearch offers a range of reasonable packages tailored to the needs of Section 8 companies, providing that clients receive quality service at a reasonable price. They understand the importance of timely registration and aim to complete the process as quickly as possible. Vakilsearch also provides ongoing support and assistance to Section 8 companies to provide compliance.