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Section 8 Company Registration

Section 8 Company to be Incorporated under Companies Act, 2013

A) Introduction of Producer Company

A Producer Company is a corporate entity designed for farmers and producers, primarily involved in agriculture and related activities. Key characteristics include: Legal entity: Recognised as a company under the Companies Act, facilitating more accessible credit, and better post-harvest management.
The private limited companies attract standard corporate income tax on their income with no exemption as such. On the other hand, Section 8 companies are eligible for various tax exemptions under IT law since they are non-profit entities.
To promote healthcare, education, social, urban and rural empowerment on non-profit basis working with government and non-government organization and all the sections of society. ii. To promote behavioral change in society with sole object of promoting the development in country, well-being of urban and rural people.

B) Benefits of Foreign Company

Tax Benefits

Section 8 companies are provided many tax benefits. It is a not-for-profit organization and enjoy exemption from Income Tax provisions.
Separate Legal Entity

Section 8 company will be considered as a separate legal entity where the assets & liabilities of the business and members are not same. Section 8 company will be considered to be a legal person and also holds the Right to Sue a third party in case of any dispute or default arises.
Zero Stamp Duty

There is no stamp duty to be paid for section 8 company registration.
No Minimum Capital

You can start up your section 8 company with zero paid up capital. Now capital amount cannot stop you from starting your non-profit organization.

C). Documents required for Incorporation of Section 8 Company

ID Proof

Aadhar / Voter ID / Driving licence / Passport/any other foreign identity proof (in case of foreigner)Directors and Shareholders.

Address Proof and Utility Bill

The Address proof of the Directors, shareholders along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.

Photos

The photos of the respective Directors , shareholders and designated authorities should submit for the clarification and proof of the concerned person.

PAN

A photo copy of the respective Directors and shareholders.

DSC

Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing with the Register of Companies.

NOC (Owner/Landlord)

No objection certificate by the owner / landlord must be enclosed.

Additional Documents

In case of any Non Resident Indian (NRI) or Foreign National Directors the relevant documents must be notarized and apostilled for certifying documents.

DIN

Directors’ Director Identification Numbers (DINs)

MOA

Company’s Memorandum of Association (MoA)

AOA

Company’s Articles of Association (AoA)

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