Section 8 NGO registration (Business Opportunities - Other Business Ads)
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Item ID 2651927 in Category: Business Opportunities - Other Business Ads
Section 8 NGO registration | |
Benefits of Incorporating a Section 8 Company in India Section 8 of the Companies Act provides certain entities an exclusive license to operate under specific guidelines, primarily to promote benevolent activities. The key requirements for granting this license are: 1. Benevolent Nature: The organization must be established to promote charitable objectives such as commerce, art, science, education, research, social welfare, religion, charity, protection of the environment, or any other beneficial purpose. 2. Use of Earnings: Earnings and profits should solely be used to promote the organization’s objectives. 3. No Dividend Distribution: The corporation should not issue dividends to its shareholders. Incorporating a Section 8 corporation in India offers several benefits, including: 1. Tax Exemption: Section 8 companies are exempt from paying income tax as their revenues are used for charitable purposes, providing a significant financial advantage for their activities. 2. No Minimum Capital Requirement: These organizations are not bound by a minimum capital requirement, allowing them to adjust their capital structure according to their growth and needs. 3. No Stamp Duty: Section 8 companies are exempt from paying stamp duty during the registration process, reducing their overall costs. 4. Separate Legal Entity: A Section 8 company enjoys its own legal identity, which ensures perpetual existence, enhances credibility, and provides autonomy. 5. Enhanced Credibility: Strict legal compliance requirements ensure that Section 8 companies maintain high levels of credibility and trustworthiness compared to charitable societies and trusts. 6. Flexible Naming: Section 8 companies are not required to include the words 'Private Limited' or 'Limited' in their name, offering greater flexibility in choosing a name that reflects their mission and objectives. By adhering to these regulations and leveraging these benefits, Section 8 companies can effectively pursue their charitable objectives with financial efficiency and enhanced public trust.  | |
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| Target State: All States Target City : New Delhi Last Update : Jun 12, 2024 2:14 AM Number of Views: 19 | Item Owner : Seedling Associates Contact Email: Contact Phone: 07428899959 |
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2024-09-18 (0.385 sec)