|| Section 8 Company ||
Why Section 8 Company is more preferable over Trust & Society?
The first point to clear the confusion in the minds of people is NGO Registration and Section 8 company registration are no way different. But is the same. Section 8 company is more preferable because of its reach. That can be registered all over India like private limited companies. Trust & society registration are done only locally. It's better to register your NGO at the national level in the form of section 8 company.
Lets' have a quick overview of the benefits of registering:
Transparency
A trust is an agreement among parties, whereby one party operates an asset for the profit of another party. Society is a group of persons, who grow together for initiating any literary, scientific or charitable purpose. "A Section 8 Company/NGO registration is a non-profit enterprise affiliated with a commercial venture. Also built for the progress of goals similar to trust or society."
Board of Management
In registering section 8 company it's clear that it will have board members. They take quick decisions and prevention of takeovers is easier than in society and Trust. How? The power of a single man prevails in a trust and a society is almost more democratic, and the consent is required for a resolution to pass.
Legislation and Statue
Section 8 company register under the Indian Companies Act, 1956 applicable all over India. For Trust registration the relevant state trust act or Indian Trust Act. For society registration 1882 Societies Registration Act, 1860. So, it's true that registering sections company or NGO is much easier like any private limited company.
Change in Registered office
It's very difficult in case of bit trusts and societies but much easier in Section 8 company as eligibility reach is in all over India. The government is also preferring you to register your NGO at the national level in the form of section 8 company.
There are three main conditions for granting the NGO Registration license/ Section 8 company are:
- The company must form to promote charitable objective accomplishments.
- Income and profits must be used towards these objects.
- No paying of dividends to the members of the company.
We are offering the most attractive package of Section 8 Company registration in which you will get all requisite approvals and certificates by ROC which is mandatory as per new provisions of Companies Act, 2013. Our deliverables as-Certificate of Incorporation
- Name Approval
- MOA and AOA
- DIN of two director
- DSC of two director
- PAN and Tan Registration of Company
- License u/s 8 of Companies Act, 2013
- Obtaining 12AB and 80G Certificates under Income Tax Act
- CSR and Nity Ayog Registration
- Dedicated support of CA/CS
For further assistance, feel free to contact us on info@thecompanywala.com
Disclaimer:- The materials provided herein are solely for information purposes and shall not be treated as solicitation in any manner and for any other purpose whatsoever. It shall not be used as legal opinion and not to be used for rendering any professional advice. The material s written on the basis of the provision applicable as on date of writing of this article.