30/10/2024 Business Opportunities, Franchise
Starting a non-profit organization in India is simplified through section 8 company registration, a process designed for entities with charitable, educational, social, and other philanthropic objectives. Section 8 companies under the Companies Act, 2013, are granted special benefits, including tax exemptions and enhanced credibility, making them ideal for organizations focused on public welfare. Unlike other entities, Section 8 companies must reinvest profits back into the organization to further its goals, a requirement that ensures funds are used effectively for social causes.
To begin, obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN) for all directors. After name reservation through the MCA portal, you’ll need to submit the Memorandum and Articles of Association (MoA and AoA) with the license application (Form INC-12) to the Registrar of Companies. Once approved, you’ll receive a Certificate of Incorporation, officially recognizing the organization.
Post-registration, Section 8 companies must maintain compliance by filing annual financial statements, conducting audits, and adhering to tax regulations, including Sections 12A and 80G for tax exemptions. This structured framework ensures transparency and boosts donor confidence, attracting more support and funding for your initiatives.
For more information, visit us on: RegisterKaro
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