Section 8 Company Registration In Bangalore
Section 8 Company registration in Bangalore is an inevitable process since it gets involved in the charity activities. It requires two people to be the shareholder or the director of the company. But the number of shareholder should not exceed 200. The registration fees also depends upon the amount of the capital. Our reputed Corpstore firm has now extended its service in various places like Bommanahalli, Majestic, Marathahalli, Chikmagaluru, Hebbal and Shanthi nagar. Since the profit amount gained cannot be shared among the members, then it implies that the profit is re-established for the non-profit use only.
The operations of the section 8 company are managed by Board of the directors. Section 25 company has the most reliable organizational structure of NGOs in India. It is the strongest organization as well. A partnership firm is allowed to be the member of Section 25 Company. Section 8 Company registration in Bangalore is essential since it enjoys the feature of limited liability. They do not aim to make the profit. Section 8 or a non-profit company is established to promote the commerce, arts, religion, etc. Many privileges and exceptions are applied to the section 8 company. There is exemption from the requirement of the minimum paid up capital.
There is also exemption for the stamp duty for the registration. If the section 8 company does not fulfill the object of doing charity and promotional activities, then the Central Government can order them to wind up the company. In case of any fraud activities are deducted, then legal action will be taken against all the officers of the company. Section 25 company is free to increase number of directors without seeking the permission of the central government. Section 8 Company is seen under the eyes of the income tax laws and enjoys the benefit of exemption and Section 8 company registration in Bangalore is done as it raises the reliability in the public.
Documents Required For Section 8 Company Registration
Section 8 Company
- Copy of the PAN card of the promoters
- Identity proof like Copy of Aadhar card or voter ID
- Address proof like Copy of Telephone bill, bank statement
- If the location is on rent then NOC from the landlord is necessary.
- Latest passport sized photograph
- Consent to act as Director DIR2
- Director’s directorship details.