What do you understand by Section-8 Company Registration?
In India Section 8 of Companies Act, 2013, provides registration for special type of non-profit organization. These types of companies are the ones which are designed to operate for promoting charitable, educational, or social causes rather than for profit. If you are considering to forming up a Non-Profit organization, then you must read understand these major things before registering. Learning about Section 8 Company Section 8 Company is an NPO which was established user the Companies Act, 22013. The primary purpose of Section 8 Company is to promote social activities such as free education, charity, art, science, religion or similar objectives that are beneficial to the community. Under Section 8 Companies the profit is not distributed among the partners or shareholders. Instead the profit generated must be reinvested into the company’s activities to further its charitable objectives. Key Features: Non-Profit Nature: These companies are formed for charitable purposes ...