NON-PROFIT COMPANY (NPO)/ NON-GOVERNMENT ORGANISATION (NGO)/ SECTION 8 COMPANY REGISTRATION IN KOTA
How to Register as a Non-Profit Company (NPO)/ Non-Government Organisation (NGO)/ Section 8 Company – Step-by-Step Process
NGO (Non-Government Organisation) is an organization that works for non-profit/ charitable purposes. An NGO established as a Section 8 company under the Companies Act, 2013 (‘Act’) is governed by the Ministry of Corporate Affairs (‘MCA’) whereas the NGO registered as a trust or society is governed by the registrar of state under the State Government.
Choosing to register a non-profit organization as a Section 8 Company under the Companies Act, 2013, offers distinct advantages over trusts and societies. The primary benefit lies in the heightened credibility that Section 8 Companies enjoy among government departments, donors, and stakeholders.
A Section 8 Company is recognized as a separate legal entity with limited liability for its members, contributing to its elevated legal status. The concept of perpetual succession ensures the organization’s continuous existence, unaffected by changes in its membership. In essence, the Section 8 Company registration process combines legal recognition, credibility, and flexibility, making it a favorable choice for non-profit organizations seeking to make a significant impact.
Law applicable to NGO in India
–Trusts governed by the Indian Trusts Act, 1882.
–Societies governed by the Societies Registration Act, 1860.
–Section 8 Companies governed by the Companies Act, 2013.
What are the benefits of registering a Section 8 company in Kota or India as per the Companies Act 2013?
Legal Recognition and Credibility: Section 8 Companies are recognized legal entities, providing a higher level of credibility and trust among stakeholders, including donors, government authorities, and the public.
Limited Liability: Members of a Section 8 Company enjoy limited liability. This means their personal assets are not at risk in case of financial liabilities or legal issues faced by the organization.
Perpetual Succession: Section 8 Companies have perpetual succession, ensuring continuous existence regardless of changes in membership or leadership.
Tax Exemptions: Section 8 Companies are eligible for tax exemptions under the Income Tax Act, making them attractive for donors and contributors. Any income applied towards the organization’s objectives is exempt from taxation.
Flexibility in Governance: Section 8 Companies offer flexibility in their governance structure. This allows for adaptable decision-making processes and facilitates effective management.
Name Reservation: The organization can reserve a unique name for itself, ensuring distinctiveness and brand identity.
Nationwide Recognition: Section 8 Companies receive recognition on a national level, making it easier to operate across different states in India.
Government Grants and Funding: Section 8 Companies may be eligible to receive government grants and subsidies, enhancing their financial resources for carrying out charitable activities.
Social Impact: By incorporating as a Section 8 Company, an organization can focus on its social objectives without the primary motive of earning profits. This encourages a strong commitment to social causes.
Professional Image: The structured legal framework and regulatory compliance associated with Section 8 Companies contribute to a professional image, enhancing trust among stakeholders.
What are the purposes of registering a Section 8 company in Kota or India as per the Companies Act 2013?
The primary objective of a Section 8 Company, as per the Companies Act, 2013 in India, is to promote
Charitable
Social
Educational
Research
Scientific
Commerce
Art
Sports
Religion
Environmental or
Other similar objectives.
Section 8 of the Companies Act, 2013, allows for the incorporation of companies with the principal aim of promoting the welfare of the community or the advancement of any other specified public purpose.
What is the eligibility to register a Section 8 company in Kota or India as per the Companies Act 2013?
– An Individual is eligible to start a Section 8 company in India.
– Two or more persons who will act as Directors or shareholders should fulfill all the compliances and requirements of the Section 8 company incorporation under the Act.
– There must be at least one director who should be a resident of India in the Section 8 Company.
– No profit should be distributed among the members and directors of the company directly or indirectly.
– The objective must be one or more of the following – promotion of sports, social welfare, the advancement of science and art, education, and financial assistance to lower-income groups.
– Founders, directors, members, and directors of the company cannot draw any remuneration in any form of cash or kind.
Requirements for registering Section 8 Company in Kota or India as per Companies Act, 2013?
Charitable Objectives: Clearly define the charitable, social, educational, research, scientific, or other similar objectives that the Section 8 Company intends to pursue.
Minimum Number of Directors: Have a minimum of two directors for a private company and three directors for a public company. At least one director should be a resident of India.
Digital Signature Certificates (DSC): Obtain Digital Signature Certificates (DSC) for all proposed directors. DSC is required for electronic filing during the incorporation process.
Director Identification Number (DIN): Obtain Director Identification Numbers (DIN) for all proposed directors. DIN is a unique identification number required for directors of Indian companies.
Registered Office: Have a registered office address in India. This address will be used for official communications and notices. Documentary proof of the registered office address is required.
License under Section 8: Apply for a license under Section 8 of the Companies Act, 2013. This involves submitting the required documents to the Registrar of Companies (ROC).
What is the process for registering a Section 8 company in Kota or India as per the Companies Act 2013?
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1. Obtain Digital Signature Certificate (DSC): Acquire Digital Signatures for proposed directors to digitally sign documents.
2. Director Identification Number (DIN): Obtain Director Identification Numbers (DIN) for the directors, required by the Companies Act.
3. Name Reservation (SPICe+ part A): Choose a unique name for the company, ensuring it complies with the naming rules outlined in the Companies Act. Submit an application to reserve the chosen name with the Registrar of Companies (ROC).
4. Form SPICe + Part B (Simplified Proforma for Incorporating Company electronically): MCA has introduced Form SPICe + for r the registration of new companies in Kota or India. The incorporation under Part B of the SPICe+ form is also web-based and streamlines the incorporation of companies.
Upon the name approval, the applicant can click on the link of the approved name (available on the user’s dashboard) and continue to complete the incorporation. The Part-B of the new SPICe+ form enables the web-based incorporation and serves the following purposes with the benefit of a single application:
Application for allotment of DIN (Director Identification Number)
Reservation of company name
Incorporation of a new company
Application for PAN and TAN(mandatory)
Application for EPFO registration (mandatory)
Application for ESIC registration (mandatory)
Application for Professional tax registration (only for Maharashtra)
Application for opening a bank account for the company (mandatory)
Allotment of GSTN (Goods and Service Tax registration number) if applied for (optional)
The details filled in Part-A and Part-B of SPICe+ will be automatically filled in the linked forms AGILE-PRO, e-AOA, e-MOA, and INC-9 (as applicable).
All these forms have to be downloaded in PDF and digitally signed, and later submitted for incorporation purposes. Upon filling of the SPICe+ form, the user has to also download the form SPICe+ in a PDF format and affix the DSC to digitally sign the form.
The digital signature of a professional is required to file Form SPICE+. The professional must certify that all the information given in the form is correct. The professional can be a Chartered Accountant, Company Secretary, Cost Accountant, or advocate.
5. e-MoA (INC-33) and e-AoA (INC-34): e-MoA refers to an electronic Memorandum of Association and e-AoA is an electronic Articles of Association. These forms have been introduced to simplify the process of company registration in Kota or India. Memorandum represents the charter of the company while articles of association contain the internal rules and regulations of the company.
6. AGILE-PRO for TAN, PAN, ESI, and PF Registrations: SPICE+ consists of the AGILE-PRO form for the integrated registration of PAN (Permanent Account Number), TAN (Tax Deduction and Collection Account Number), and registrations under the Employees’ State Insurance Corporation (ESIC) and Employees’ Provident Fund Organization (EPFO).
Documents required for filing SPICe+ (INC-32)
Copy of Pan Card of applicants
Passport size photograph of applicants.
Copy of Aadhaar Card/ Voter identity card
Scanned Copy of bank statement / Utility Bill of applicants (any one of these documents)
Scanned Copy of the Utility bill of the registered office [Which will be mentioned as the registered office of purposed Proposed Company]
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