Profit or Income of Non-Profit Company can only be used for promotion of the charity work in which it is involved. Even the declaration of dividend or distribution of profit to its promoters is not allowed.

No. Promoters of Non-profit company can be employed as paid employees of the company.

Yes, Section 8 company be converted into a private limited company after taking the approval from ROC.

The Director required to be above 18 years of age and must be a natural person. He may or may not be a citizen or residence of India. We can say that even foreign nationals can be Directors in Indian Section 8 Company.

In the case of Section 8 Company, minimum no. of the director is two.

No minimum paid-up capital is required to register the Section 8 company.

Apply for PAN and TAN • Apply for Sales Tax / Service Tax Registration based on the nature of Business. • Filing ADT-1 for Appointment of First Auditor of the Company within 1 Month of Incorporation of Company and in case the Board fails to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an Extra Ordinary General Meeting appoint such auditor and such auditor shall hold office till the conclusion of the first Annual General Meeting. • Filing Income Tax Return of Company on or Before 30th September every year • To maintain proper Books of Accounts • Get your account books Audited Every Year.

Yes, an NRI can register a Section-8 Company provided all the documents required are submitted and notarized by the professionals.

There are various privileges and exclusions under Company Law. • There is no need for a Minimum paid-up Capital. • Stamp duty registrations are also exempted. • Companies Auditor is not applicable. • Any registered partnership firm can be a member of its capacity. • Tax deductions to the donors of the Company.

It is important to have objects with a non-profit motive, and then it can be registered as Section-8 Company.

he registration under the Companies Act, 1956 is unchanging in nature and provides continuous existence. Under extreme conditions, such companies can be reimbursed. The government is the official liquidator of Corporations.

Yes, Corporate Social Responsibilities(CSR) is a part of all companies and similar to Section 8 Company it has non-profit related objectives.

The main objectives of Section 8 Company must ensure that it is related apply its profits(if any) in promoting and supporting the objectives. It should not provide any benefit/fund to its members. The objects to be promoted includes: • Commerce • Science • Sports • Research • Education • Social Welfare • Religion • Charity • Protection of Environment.