SECTION 8 COMPANY
Section 8 Company means a company incorporated only for the purpose of: • Promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment or any such other object(charitable objects) • Apply its profits, if any, or other income in promoting its objects • Prohibit the payment of any dividend to its members A Non-Profit organization can either be a public or a private company Conditions for forming Section 8 Company:
| S.No | Description | Public | Private |
|---|---|---|---|
| 1 | Directors | 3 | 2 |
| 2 | Resident Director | 1 | 1 |
| 3 | Members/Shareholders | 7 | 2 |
• Directors & Members/Shareholders can be same person. • Director Identification Number [DIN] for all the directors. • Digital Signature Certificates [DSC] for all the directors.
