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According to the Companies Act, 2013, all Section 8 Companies must comply with Section 8 Compliance with the MCA (Ministry of Corporate Affairs). Section 8 companies are primarily founded to promote art, commerce, charity, education, sports, science, environmental protection, religion and research, social welfare, or any other cause. Revenues, earnings, and other gains generated by this company must promote these goals. It does not pay any dividends or revenue to its members. Section 8 Companies can be “private limited or public limited companies.”
You can use our comprehensive and pan-India company registration services for online Section 8 company registration, which we provide through our highly professional, qualified, and experienced team of legal experts. Our services are affordable and available entirely online for your comfort and convenience.
Tax Exemption Applicability
There is a widespread belief that a Section 8 firm is exempt from paying taxes since it works to benefit the broader public. But this is not the case. It is a legal requirement of every Section 8 company to pay taxes, just as it is for any other legal entity. To be tax-free, a Section 8 company has to get certification from the Income Tax Authorities for exemptions such as Section 12 A, 80G, and so on.
For Directors/Shareholders
Copy of PAN Card
Aadhaar Card
Address Proof (Bank Statement, Electricity Bill, Telephone Bill)
2 Passport Size Photographs
For Registered Office
Ownership Proof (House Tax etc.)
Utility Bill (Electricity Bill, Gas Bill)
NOC(from the owners – if the premises is rented)
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There are 9 mandatory Section 8 company compliances that includes:
The Ministry of Corporate Affairs has the authority to impose penalties in case it encounters any non-compliance with the procedures.
Penalties to be imposed are as follows:
Section 8 Companies can avoid penalties provided they comply with the laws, and the best way to do that is quite simple. Taking care of compliances within the specified time frame is all the company has to do.
COMPLIANCE | DUE DATE |
AGM (Annual General Meeting) | 30thSeptember |
AOC-4 | Within 30 days of AGM |
MGT-7 | Within 60 days of AGM |
Income Tax Return | 30th September |
Annual Returns are penalised by a fine of Rs. 50,000, which can be increased to Rs. 5 lakh if not filed on time.