Nonprofit organizations serve an essential cause in society, working for charitable, educational, religious, social, and cultural objectives. In India, such organizations are usually incorporated as Section 8 Companies under the Companies Act, 2013. It is worthwhile to know if you want to set up a non-profit entity in Haryana because Section 8 company registration at Faridabad has a legalized and reliable structure for social objectives without a focus on profit generation.
This information from Lawgical India will inform you of everything you need to know about Section 8 company registration online in Faridabad procedures, benefits, and why most people are using online registration. We'll discuss specific examples of registration, like that of a Section 8 microfinance company from Faridabad, which is very pertinent for organizations that serve low-income groups.
What is a Section 8 company?
A Section 8 Company is a corporate body incorporated under the Companies Act, 2013, with an objective to promote charitable causes or causes, which would include education, social welfare, environment protection, health, and culture. Unlike conventional companies, a Section 8 company does not have the right to distribute its profits among its members. Instead, the profits are to be reinvested to pursue its objectives.
Section 8 company registration in Faridabad effectively guarantees the credibility, transparency, and legal validity of the initiative.
Why Register a Section 8 Company in Faridabad?
Faridabad is among the fastest emergent industrial hubs in Haryana and holds many Non-Governmental Organizations (NGOs), charitable institutions, and community service providers. Some of the benefits associated with registering a Section 8 Company in Faridabad include:
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Legal Endorsement: Registration would form an elaborate scheme of your nonprofit undertakings.
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Tax Benefits: Registered entities are entitled to exemptions of taxes under Sections 12AA and 80G of the Income Tax Act.
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Increased Credibility: Donors, government agencies, and foreign contributors trust registered entities more.
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Separate Legal Entity: Protects its members against any kind of liability on a personal level.
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Ease of Operations: Opening bank accounts, raising funds through donations, and applying for grants become easier.
Whether you want to start an educational trust, health initiative, or microfinance project, Section 8 company registration online in Faridabad provides a convenient and compliant route.
Stepwise Procedure for Section 8 Company Registration Online in Faridabad
Lawgical India will assure you smooth, less tedious, and transparent processing. This is how it works:
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Obtaining the Digital Signature Certificate (DSC):
Each appointed director must obtain DSC as a prerequisite for signing a document electronically.
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Apply for a Director Identification Number (DIN):
DIN is a number through which a director is identified; each director will independently be allotted a DIN.
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Approval of the Name:
By using the RUN (Reserve Unique Name) service on MCA, your company name can be approved.
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Drafting of MOA and AOA:
The Memorandum of Association (MOA) and Articles of Association (AOA) define your objectives and rules.
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Application for the License Under Section 8:
Fill out Form INC-12 along with the required documents for seeking approval from the Regional Director.
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Filing of Incorporation:
The SPICe+ form should be filed for incorporation along with the PAN and TAN applications of the company.
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Certificate of Incorporation:
A company will be issued a Certificate of Incorporation, making it a legal entity.
Choice of the Section 8 company registration online in Faridabad saves time, tasks of paperwork, and avails expert professional guidance through firms like Lawgical India.
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Documents Required for Section 8 Microfinance Company Registration in Faridabad
Here is a list of documents needed for smooth registration:
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PAN card of the directors and members.
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Aadhaar card / Voter ID / Passport for identity proof.
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Passport-sized photographs.
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Address proof of office location (electricity bill/telephone bill).
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NOC from landlord (if rented property).
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Draft MOA and AOA.
Why Lawgical India for Section 8 Company Registration?
At Lawgical India, we specialize in Section 8 company registration in Faridabad and ensure:
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Expert consultation and guidance.
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100% compliance with MCA and income tax laws.
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End-to-end support for online registration.
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Affordable packages for NGOs, trusts, and microfinance companies.
Our team ensures that the process of Section 8 company registration online in Faridabad is seamless and completed in the shortest possible time.
FAQ’s on Section 8 Company registration in Faridabad
Q1. What is the minimum number of members required for Section 8 Company registration in Faridabad?
At least 2 members and 2 directors are required for the incorporation of a Section 8 Company.
Q2. Can a Section 8 company distribute profits to its members?
Profits are to be used only for the furtherance of the company's charitable objectives.
Q3. How much time does it take for Section 8 company registration online in Faridabad?
Normally, it takes 15-20 working days but may vary based on the document submission or approval of the government agency.
Q4. Should I obtain RBI approval for Section 8 microfinance company registration in Faridabad?
No. If the microfinance activities are not profit-oriented, there is no RBI approval for conducting such activities.
Q5. Can a Section 8 company in Faridabad receive foreign donations?
Yes, but subject to registration under FCRA (Foreign Contribution Regulation Act).
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