Charitable Company

CHARITABLE COMPANY

Charitable Company is a non-profit organization that is registered under the Companies Act, 2013 in the name of Section 8 Company. It is a limited company with specified objects like the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object. Such company operates under the license of the Central Government and is also benefitted with several exemptions and relaxations from complex formalities of a company concern.

Key Points

The profits earned are to be re-invested for promoting the stated objects
Prohibited to distribute profits as dividend
Minimum 2 members are required
No minimum capital requirement
Exempted from Stamp Duty registration
Prior approval of Central government is required for altering the provisions of charter documents

An HUF or firm may also become a member in Section 8 Company
Liability of the members are limited
It mandatory to include any of the following word in the name of the proposed charitable company- Foundation, Association, Forum, Federation, Chambers, Confederation, Council, Electoral Trust or alike.
Company must have a clear vision and project plan for immediate 3 years

Requirements

Distinctive name of proposed company (at least 2 names for reservation)
Summary of the objects of the company
Director Identification Number (DIN) of proposed directors, if any
Communication details of directors and subscribers-

• Mobile Number;

• Email-Id

Address of proposed Registered Office and its nearest police station
Director and Subscriber Details-

• Personal;

• Occupational;

• Educational Details

Total amount of authorized and subscribed share capital
Interest of Directors-

• Details of entities where director has interest;

• Details of interest of director in such entity

Amount and number of shares subscribed by each shareholder
Proposed Bank Name
Corresponding Address, if proposed registered office is not final
Estimate of annual income and expenditure of the company for first 3 years, specifying-

• Sources of income;

• Objects of the expenditure

Requisite Documents

Document supporting proposed name of the company, if any-

• NOC of Trademark or;

• Authorized letter of concerned entity

Proof of Office Address-

• Title Deeds; or

• Lease/ Rent Agreement and rent receipt; and

• Copy of any utility bill not older than 2 months

NOC from owner/landlord of office premises
If shareholder is a body corporate- CIN/any other Registration Number, Board Resolution/Authorization Letter and PAN of entity

Proposed and formulated business plan
Proof of Identity and Residence (of directors and subscribers) (whatever available)-

• PAN Card;

• Passport or;

• Voter Id Card or;

• Driving License or;

• Utility Bills or;

• Aadhar Card

Passport size photographs of proposed directors

Note

Identity documents should be Self Attested.
We also provide making and renewal of DSC services.
Further, details and documents, if any required, can be called for during the process.
Other requisite documents shall be drafted and finalized by our team for the process and will be requested for signing.

If no DIN, application shall be made for it.
We also provide Annual Filings of Section 8 Company as a separate service.
We also provide services of Filing Income Tax Return and other related services for the company.

Time Duration

After receipt of all documents and information and subject to the MCA (CRC or ROC) response, approx. 5-8 days is taken for incorporation of such company