SECTION 8 COMPANIES

Section 8 companies are companies established for promoting art, commerce, religion, charity or any other useful object, provided the profits, if any or any other income is applied for promoting the objects of the company and not for distribution as dividends among its members.

Advantages

Exemption from requirement of minimum paid up capital
Non application of Companies Auditors Report(CARO)
A partnership firm can become a member of the company
Many other privileges which are not normally available to other companies

Disadvantages

No dividend can be declared/paid
No member can be appointed as a remunerated officer

Section 8 Company Registration
Starts at Rs 35000/-

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