Section 8 Companies
Section 8 of the Companies Act, 2013, which pertains to be established for the promotion of commerce, art, education, charity, research, social welfare, science, sports, religion, protection of environment or such other objects, provided profits, if any, or any other income is incurred for promotion of the objectives of such company, and also, no dividends are paid to its members. There may be various forms of a charitable organizations in India and such organizations can be registered as societies, trusts, or as a non-profit company incorporated under the Section 8 of Companies Act, 2013.
Requirements / Conditions
The following are the documents required for section 8 company registration are :
- Director Identification Number (DIN) :
- Digital Signature Certificate of Director (DSC)
- Approved Name
- Memorandum of Association & Article of Association
- INC-12
- Proof of ownership (rent agreement/ lease deed)
- NOC from the landlord or the owner
- DIR-12 (appointment of Directors)
- Consent to be directors i.e., DIR-2
- An affidavit from the Directors for not accepting deposits
- INC-9 which is the declaration of each subscriber to MOA
Non – Governmental Organisation
Non-Governmental Organization (NGO) is an organization or association which is registered with the government of India and it mainly works for the betterment and upliftment of the society i.e. for charitable purposes. The NGOs have a clear and certain object and cause which it supports and undertakes throughout its life, whether it can be cultural, religious, educational, social or any other charitable object. The main object of NGOs is societal benefit and non-profit-making and this why they are also known as Non-Profit-Organizations.
NGOs can accept donations from private individuals, for-profit companies, charitable foundations, and governments, whether local, state, federal, or even foreign.
Requirements / Conditions
- A request letter for registration signed by founder members stating purpose of formation
- Certified copy of MoA [Memorandum of Association]
- Copy of the rules and regulations members will abide by
- Name, Address, Occupation of all members of society with signatures
- Minutes of meeting
- Declaration by President of Society
- Sworn affidavit from the President or Secretary, declaring the relationship between subscribers
- Address Proof of Registered office and No-Objection Certificate (NOC) from the landlord
Trust
A trust is an obligation which binds a person (or persons) to deal with property for the benefit of beneficiaries or for a charitable purpose in accordance with the terms of the trust . A trust can come into existence in any manner, by an instrument in writing (including a will), by a unilateral declaration, by operation of law and also by oral declaration. Trusts, in general, under Indian law have a statutory basis, namely the Indian Trusts Act, 1882.
Requirements / Conditions
- The person who creates a trust (settlor) should make an unequivocal declaration binding on him.
- The objects of the trust must be defined and specified.
- The beneficiaries are specified.
- He must transfer an identifiable property under irrevocable arrangement and totally divest himself of the ownership and the beneficial enjoyment of the income from the property.
Society
A society is an association of several individuals combined using a mutual accord to deliberate, govern and act cooperatively for some communal purpose. Societies are usually registered for the advancement of charitable activities like sports, music, culture, religion, art, education, etc
Requirements / Conditions
- PAN Card
- Residence proof of all the members.
- Address proof of registered office of society as well as no-objection certificate (NOC) issued by landlord.
- Memorandum of Association: The memorandum of association has to be prepared which will contain the following clauses and information:
- The work and the objectives of the society for which it is being established.
- The details of the members forming the society.
- It will contain the address of the registered office of the society.
- Rules & Regulations of the Society: The details about the meetings of the society and the frequency with which they are going to be held is to be mentioned.
- Information about the Auditors.
- Forms of Arbitration in case of any dispute between the members of the society.
- Ways for the dissolution of the society will also be mentioned.
- Name of the society
- Covering letter: A covering letter mentioning the objective or the purpose for which the society is being formed will be annexed to the beginning of the application. It will be signed by all the founder members of the society.
- Declaration: A declaration has to be given by the president of the proposed society that he is willing and competent to hold the said post.
- Few minutes of meeting regarding the society registration along with providing some essential documents.
The enterprise was founded by Chartered Accountant Mr. Jothilingam S.
