Section 8 Company
- No Paid Up Capital.
- Tax Deduction.
- Exemptions Under Company Law.
About Section8 Company
Section 8 Company is also termed as the Non-Profit organization(NPO) which is established to promote art, science, commerce, religion, charity or any other advantageous object, provided the profits if any. Other revenue is utilized for supporting & promoting of objectives of the company and its members fund no benefit.
Objectives
The main objectives of Section 8 Company must ensure that it is related apply its profits(if any) in promoting and supporting the objectives. It should not provide any benefit/fund to its members. The objects to be promoted includes;
- Commerce
- Science
- Sports
- Research
- Education
- Social Welfare