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NGO/Section-8 Company Compliances

17,999.00

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Documents Required for NGO/Section 8 Company in India:

 

  1. Memorandum of Association (MOA): This document outlines the objectives and goals of your organization, as well as the rules and regulations that govern it.
  2. Articles of Association (AOA): This document defines the internal management structure and operations of your organization.
  3. Certificate of Incorporation: This is a legal document that establishes the existence of your organization as a registered entity with the Registrar of Companies.
  4. PAN Card: Every NGO or Section 8 company is required to have a Permanent Account Number (PAN) issued by the Income Tax Department.
  5. Bank Account Details: You will need to provide the bank account details of your organization for receiving and making payments.
  6. Address Proof: You will need to provide proof of the registered address of your organization, such as a utility bill, lease agreement, or property tax receipt.
  7. Identity Proof: You will need to provide proof of identity for all the members of your organization, such as Aadhaar Card, Passport, Voter ID, or Driving License.
  8. Photographs: You will need to provide passport-sized photographs of all the members of your organization.
  9. Board Resolution: A board resolution is a formal document that records the decisions taken by the board of directors of your organization.
  10. Minutes of Meetings: Minutes of meetings of the members and directors of the organization need to be maintained and submitted to the Registrar of Companies.

It is important to note that the exact documentation requirements may vary depending on the state in which you are registering your NGO or Section 8 company. Therefore, it is advisable to consult with a legal professional or a chartered accountant to ensure that you have all the necessary documents in order to avoid any delays or rejections during the registration process.

 

Benefits of  NGO/Section 8 Company in India:-

NGOs (non-governmental organizations) and Section 8 companies in India are formed for various social, cultural, and environmental causes. These organizations are registered under the Indian Trusts Act, 1882 or the Companies Act, 2013, and operate without any government control or ownership. Some of the benefits of NGOs and Section 8 companies in India are:

  1. Tax Exemptions: NGOs and Section 8 companies in India are eligible for tax exemptions under various sections of the Income Tax Act, 1961, provided they meet certain conditions. These organizations can claim tax exemptions for their income from donations, grants, and other sources.
  2. Funding and Grants: NGOs and Section 8 companies in India are eligible to receive funding and grants from various government and non-government organizations, both national and international. This helps these organizations to implement their projects and programs effectively.
  3. Limited Liability: Section 8 companies in India have limited liability, which means that the personal assets of the members or directors of the company cannot be used to pay off the company’s debts. This is beneficial for the members and directors of the company as they are protected from any financial losses.
  4. Credibility: NGOs and Section 8 companies in India have a higher level of credibility and trust among the public and stakeholders due to their non-profit nature and social objectives. This helps these organizations to attract more funding and support from donors and sponsors.
  5. Flexibility: NGOs and Section 8 companies in India have more flexibility in their operations compared to government organizations. This allows them to implement innovative solutions to social, cultural, and environmental problems.
  6. Social Impact: NGOs and Section 8 companies in India work towards the social, cultural, and environmental upliftment of society. Their activities and programs have a direct impact on the lives of the people they work with, making a significant difference in their lives.

Overall, NGOs and Section 8 companies in India play an important role in the country’s social and economic development. They provide a platform for individuals and organizations to come together and work towards creating a better and more equitable society.

 

Formation of NGO/Section 8 Company :-

 

  1. Choose a Name: Choose a unique name for your NGO/Section 8 Company that does not infringe on any existing trademarks or copyrights.
  2. Memorandum of Association (MoA): Prepare the MoA, which contains the objectives, rules, and regulations of the NGO/Section 8 Company. The MoA should be in accordance with the Companies Act, 2013, and should be signed by all the proposed members.
  3. Articles of Association (AoA): Prepare the AoA, which defines the bylaws of the NGO/Section 8 Company. It should also be in accordance with the Companies Act, 2013, and should be signed by all the proposed members.
  4. Board of Directors: Appoint a minimum of two directors for your NGO/Section 8 Company. At least one of the directors should be a resident of India.
  5. Apply for Digital Signature Certificate (DSC): All the proposed directors need to apply for a DSC from a certifying agency.
  6. Apply for Director Identification Number (DIN): All the proposed directors need to apply for a DIN from the Ministry of Corporate Affairs.
  7. Apply for Incorporation: File an application for incorporation with the Registrar of Companies (RoC). The application should include the MoA, AoA, and other necessary documents.
  8. Certificate of Incorporation: Once the RoC approves the application, it will issue a Certificate of Incorporation, and the NGO/Section 8 Company will be deemed to be registered.
  9. Apply for PAN and TAN: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for your NGO/Section 8 Company.
  10. Open a Bank Account: Open a bank account in the name of your NGO/Section 8 Company.

Note: The process of registering an NGO is different from that of registering a Section 8 Company. A Section 8 Company is a type of NGO that is incorporated under the Companies Act, 2013. The process of incorporation for a Section 8 Company is similar to that of a regular company, but with some additional requirements specific to Section 8 Companies.

 

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NGO/Section-8 Company CompliancesNGO/Section-8 Company Compliances
17,999.00