Section 8 Company Enrollment
Section 8 Company is named Section 8 of the Companies Act, 2013, which relates to an established 'for advancing trade, craftsmanship, art, science, sports, education, research, social welfare, religion, philanthropy, insurance of condition or any such other protest', provided the profits, assuming any, or another income is applied for promoting only the objects of an organization and no profit is paid to its people. Therefore, Section 8 Company or Section 25 Company is an organization registered under the Companies Act, 2013 for charitable or not-revenue driven purposes.
A Section 8 Company is similar to a Trust or Society; expect a segment 8 Company is registered under the Central Government's Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 Company has various advantages when compared to Trust or Society like an enhanced acknowledgment and better legal standing. Section 8 company additionally has higher validity among contributors, Government offices, and other stakeholders.
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