Section 8 & Section 25 Company registration in Chennai
Section 8 company registration in Chennai is an important task since it is a legal form of non-profit organization. We serve in various places of Chennai like Adayar, Chromepet, Anna nagar, Meenambakkam and Saidapet. We Corpstore have immense pleasure in assisting the public in registration services. It has been authorized to work anywhere in the country. The Section 8 Company takes part in promoting the arts, science, and culture. The Section 25 Company has also been established for the same purpose. This kind of company is easier to start, being an exempt from requirements of minimum paid up capital.
Section 8 Company registration in Chennai is important since it has many privileges and the exemptions under the Company law. A registered partnership firm can be a member of their own capacity. There is an exemption of the stamp duty for the registration. Minimum two people is required for becoming the shareholder and the director of the company. The number of the shareholders should not exceed 200. At least one of the shareholders must be an Indian citizen. The name of this company should be unique. It should not be similar to any of the existing names and it should be very different. The profits of the company should be used only for the goods of the company for which it has made. The members should refuse to pay the dividends. The Section 25 Company also enjoys the significant tax benefits. Many of the business people choose section 25company as it is conversant with the company structure. There are several exemptions available which makes it to sound for philanthropy. Section 8 Company registration is needed as it intends to apply the profits for the welfare of the society. And also the registration adds the credibility to the company among the people.
Documents Required For Section 8 Company
- Identity proofs of all the directors
- PAN card of all the Directors
- Address proofs
- Rent agreement or NOC
- DSC of all the Directors
- DIN and MOA
- Statement of the income
Steps to register the Section 8 Company
- Obtain the DSC
- File the DIR-3 for getting the DIN
- Draft MOA and AOA
- After the approval Form INC-12
- Upon the approval the license is issued
under Form INC-16
- After the license file Spice Form 32.
Steps to register the Section 25 Company
- Apply and get DIN
- Apply for the name approval
- Apply to grant the license
- File MOA
- File AOA
- The registration certificate is issued.