A Section 8 Company is
An NGO or Non-Profit Organisation is an entity that operates for the promotion of art, science, sports, education, research, social welfare, religion, charity, protection of the environment or any such other object.
Section 8 Company format of a NGO is most popular form of NGO in India. It is easy to register, run or manage a Section 8 Company in comparison of a Trust and a Society.
The key characteristics of an NGO section 8 company are:
Object: It operates for common welfare of masses at large, for promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.
Profit Earning: The objective is not to earn profit. If any profit is earned during course of its operation, the same is not to be shared among owners/members rather utilised for attaining the objects for which NGO was formed.
Utilisation of funds and earnings: The profits, if any, or other income is used towards promoting of specific objects of NGO. Further there is restriction on declaration of profits as dividend to members.
Documents to be submitted for NGO Registration
1) Passport size photos of directors
2) Address proof of directors
3) Photo ID proof of directors
4) Specimen signature
5) Self declaration about your directorship in other companies
6) Rent agreeement of your registered office
7) No objection certificate from the owner