#section 8 company registration certificate
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Best Sevction-8 Company registration Certificate provider in India
Are You Looking for Section 8 company Registration Certificate in India? Now you can Register Your Company Under Section 8 with Easy process that saves you time and effort, allowing you to focus on other aspects of your business. Visit our Website for more information.
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What is difference between NBFC and bank?
Non-Banking Financial Companies (NBFCs) and banks both play vital roles in the financial system, but there are some key differences between them:
Regulation: NBFCs are regulated by the Reserve Bank of India (RBI) under the Reserve Bank of India Act, 1934. However, their regulations are not as stringent as those for banks. Banks are regulated under the Banking Regulation Act, 1949, and are subject to more extensive regulatory requirements due to their role in the monetary system and their ability to create money through lending.
Acceptance of Deposits: Banks are authorized to accept demand deposits, whereas NBFCs cannot accept demand deposits. NBFCs primarily raise funds through other means such as issue of debentures, bonds, or loans from banks and financial institutions.
Lending Activities: Both banks and NBFCs engage in lending activities, but banks are more focused on providing loans to various sectors of the economy, including retail and corporate sectors. NBFCs, on the other hand, may specialize in certain types of lending such as consumer finance, housing finance, or infrastructure finance.
Access to Payment Systems: Banks have access to payment and settlement systems such as RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) which NBFCs typically do not have access to. This enables banks to facilitate payments and settlements on behalf of their customers.
Deposit Insurance: Banks provide deposit insurance to their depositors through schemes like the Deposit Insurance and Credit Guarantee Corporation (DICGC) in India, which guarantees repayment of deposits up to a certain limit in case of bank failure. NBFCs do not provide this kind of deposit insurance.
Role in Monetary Policy Transmission: Banks play a crucial role in the transmission of monetary policy set by the central bank. Changes in the policy rates by the RBI affect the lending and deposit rates of banks, which in turn influence economic activities. NBFCs do not have the same direct influence on monetary policy transmission.
Ownership: While banks can be privately owned or government-owned, NBFCs are usually privately owned.
Overall, while both banks and NBFCs are important components of the financial system, banks have a more extensive regulatory framework and offer a wider range of services compared to NBFCs.
Choose Vakilkaro for NBFC registration in Lakhimpur Kheri
Looking to register your NBFC in Lakhimpur Kheri? So choose Vakilkaro, your trusted partner. With expert guidance and seamless service, Vakilkaro's team makes NBFC registration hassle-free. Ensure compliance and legal clarity with our dedicated team. Trust Vakilkaro for a smooth NBFC registration journey in Lakhimpur Kheri. And contact Vakilkaro's team on this number: 9828123489.
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#charitable organizations#Companies Act#Digital Signature Certificate#limited liability#Ministry of Corporate Affairs#NGOs#non-profit organizations#Section 8 company registration online#tax exemptions
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Pan Card Apply Online
A Permanent Account Number (PAN) card is a crucial document for Indian citizens, serving as a unique identifier for financial transactions, tax filings, and other official purposes. If you need to apply for a PAN card, the good news is that the process can be completed online, providing a convenient and efficient way to obtain this essential document. This guide will walk you through the steps to Pan card apply online, ensuring a smooth and successful application process.
What is a PAN Card?
A PAN card is issued by the Indian Income Tax Department and contains a unique 10-digit alphanumeric identifier. It’s required for various financial activities, including opening bank accounts, filing income tax returns, buying property, and conducting large financial transactions. Whether you’re an individual, a business owner, or a foreign national with financial interests in India, a PAN card is a must-have document.
Who Needs a PAN Card?
The following individuals and entities typically need a PAN card:
Indian citizens above the age of 18 who are earning an income.
Business entities operating in India.
Foreign nationals with business interests in India.
Individuals conducting high-value financial transactions.
Step 1: Choose an Authorized Agency:
To apply for a PAN card online, you need to use one of the authorized agencies: NSDL (National Securities Depository Limited) or UTIITSL (UTI Infrastructure Technology and Services Limited). Both agencies offer online application services for new PAN cards. This guide focuses on the NSDL process, but the steps are similar for UTIITSL.
Step 2: Visit the NSDL Website:
Visit the NSDL e-Governance website’s PAN section. Here, you can find various options for applying for a PAN card, including new applications, corrections, and reprints. Choose the “New PAN — Indian Citizen” option to apply for a new PAN card online.
Step 3: Complete the Online Application Form:
Fill out the online application form with your personal information. You will need to provide details such as your full name, date of birth, address, father’s or mother’s name, and other relevant information. If you’re applying for a PAN card for a business entity, you may need additional information like the company’s registration number.
Step 4: Provide Supporting Documents:
To complete your application, you must upload supporting documents for identity and address verification. Commonly accepted documents include:
Proof of Identity: Passport, Aadhaar card, voter ID, or driving license.
Proof of Address: Utility bill, bank statement, ration card, or passport.
Proof of Date of Birth: Birth certificate, school leaving certificate, or passport.
Ensure the documents are clear, legible, and in the correct format as specified by NSDL.
Step 5: Make the Payment:
After completing the application form, you must make the payment for the PAN card application. The fee varies depending on whether you’re applying from within India or from abroad. Payment can typically be made using credit/debit cards, net banking, or other online payment methods.
Step 6: Submit the Application:
Once you’ve filled out the form, uploaded the required documents, and made the payment, submit your application. NSDL will generate an acknowledgment receipt with a unique 15-digit number. Keep this number for tracking your application and future reference.
Step 7: Verify Your Application:
After submitting your application, you may need to complete a verification process. This could involve a physical verification of your documents or a biometric verification using Aadhaar-based e-KYC. Follow the instructions provided by NSDL to complete this step.
Step 8: Receive Your PAN Card:
Once your application is processed and verified, your PAN card will be dispatched to your registered address. This process may take several weeks, depending on the verification process and postal delivery times. Ensure someone is available to receive the PAN card to avoid delays.
Conclusion:
Applying for a PAN card online is a convenient way to obtain this essential document. By following the steps outlined above and providing accurate information and supporting documents, you can successfully complete the application process. Whether you’re an individual, a business owner, or a foreign national with financial interests in India, a PAN card is a crucial tool for conducting financial transactions and complying with tax regulations. With this guide, you can apply PAN card online and take advantage of the benefits it offers.
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Online NGO Registration Process and Fees in Delhi
NGO (Non-Governmental Organization) Registration: A non-profit organization working for charitable and social purposes. There are three types of NGO Registrations: Section 8 Company Registration, Society Registration and Trust Registration. Connect with PSR Compliance for all types of NGO Company registration; we can assist you in registering an NGO with all the necessary formalities. You can obtain your NGO Certification within 30 days.
#ngo registration#trademark status#trust registration#section 8 company registration#rni registration
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Online NGO Registration in India
Non-Governmental Organizations (NGOs) play a pivotal role in addressing societal issues, driving positive change, and advocating for the underprivileged. The foundation of every impactful NGO lies in its legal establishment – a process known as NGO registration. This article serves as a comprehensive guide to navigating the intricacies of NGO registration in India, empowering aspiring changemakers to embark on their journey of social impact.
NGO registration is a legal process that endows organizations with the official status required to carry out philanthropic activities. It serves as a gateway to credibility, transparency, and various benefits, including tax exemptions. In India, NGOs can be registered under different legal structures, such as Trusts, Societies, or Section 8 Companies.
Classification of NGOs in India
NGOs in India can be classified based on their orientation and level of operation:
1. By the Level of Orientation:
2. By the Level of Operation:
NGO Registration Process
The following is the process for NGO Registration in India:
1: Type Determination: Choose the suitable NGO structure – Trust, Society, or Section 8 Company – based on your organization’s objectives.
2: Name Selection: Choose a unique name reflecting your mission.
3: Drafting MoA and AoA: Prepare the Memorandum and Articles of Association.
4: Governing Body Formation: Establish a governing body or managing committee.
5: Registered Office Designation: Provide an official address for communication.
6: Documentation Preparation: Gather required identity proofs, address proofs, and photographs.
7: Registration Application Submission: Submit the application to the relevant authority – Registrar of Trusts, Registrar of Societies, or Registrar of Companies.
8: Review and Approval: Await review, with possible clarification requests.
9: Registration Certificate Obtention: Upon approval, obtain the registration certificate.
10: Tax Exemption Application: Apply for tax exemptions under relevant sections.
11: Compliance and Reporting: Adhere to statutory requirements, including accounts maintenance, annual returns filing, and audited financial statement submission.
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We, at Maurvish Advisors deals in Trademark Registration, Pvt. Ltd. Company Registration, OPC Registration, ISO Certification, GST Registration, Section 8 NGO Registration, Nidhi Company Registration, LLP registration, Public Company Registration, Producer Company Registration, Startup India Business Registrations and handle all your compliances.
Maurvish Advisors LLP, a business consultancy firm which provides all types of business registrations to the person who wants to start their new business.
For more details, Connect at
CS Heena Aggarwal
9971164429
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What is the introductory online company registration process in Delhi?
To initiate the formation of a private limited company online in Delhi, you'll need to provide several documents like proof of identity and address for the shareholders through the MCA portal. Reach out to our team at Professional Utilities, and we'll handle all the documentation and registration on your behalf. No need to stress over the application process; simply sit back and await completion of the incorporation by our team.
Below is the comprehensive procedure for registering a private limited company online in India:
Step 1: Application for Digital Signature Certificate (DSC)
In the process of incorporating a private limited company entirely online, obtaining Digital Signature Certificates (DSC) for the directors and owners is essential. This can be accomplished through a business consultancy firm, typically within 24 hours. The DSC acquisition involves three identity verification steps: document verification, video verification, and phone verification.
Step 2: Apply for a Unique Business Name
To register a private limited company, you must apply for a unique business name through the Ministry of Corporate Affairs' RUN portal, which is part of the SPICe+ Form. Ensuring the uniqueness of the name is crucial, and it should not be in use elsewhere. Additionally, you'll need to define the company's industrial activity code and object clause while applying for a unique name. Utilize our Name Search tool to verify the availability of your desired company name.
Step 3: Filing of SPICe Form (INC-32)
Once you have obtained the DSC and Section 8 company license, the next step is to file the SPICe form. This form serves as a proforma for incorporating your Section 8 company online. The form includes details such as:
Company information
Details of members and subscribers
Application for Director Identification Number (DIN)
Application for PAN and TAN
Declarations by directors and subscribers
Declaration and certification by professionals
Step 4: Fill e-MoA (INC-33) and e-AoA (INC-34)
SPICe e-MoA and e-AoA are forms that need to be drafted during the online company registration process in Delhi. MoA (Memorandum of Association) and AoA (Articles of Association) are defined under sections 2(56) and 2(5) of the Companies Act, 2013, respectively.
Step 5: Issuance of PAN, TAN, and Certificate of Incorporation
Following the approval of the documents by the Ministry of Corporate Affairs, the ministry will issue documents such as PAN, TAN, and the certificate of incorporation.
Step 6: Open a Current Bank Account with the Company’s Name
After receiving the Certificate of Incorporation, it's necessary to open a current bank account in the company's name within two months of receiving the incorporation certificate.
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Weekly Announcements for Week of 03/17-03/23
Dear SBSC families,
Practice Schedule
Riley High School
Group 1 Monday 6:00-7:30
G1 Elite Tuesday 5:30-7:00
Group 2 Monday and Tuesday 5:30-7:00
Group 3 Monday, Tuesday 3:45-5:30, and Wednesday 6:15-7:15 AM
New Prairie High School
Group 1-Monday 5:00-6:30
Group 2 Next Practice April 8
Group 3 Next Practice April 8
Practice Notes:
Riley families please use door #22. This is the door on the northwest corner of the building and faces Fellows Street. If you are planning to stay to watch practice there is a stairwell that is adjacent to this door, and this will lead you to the seating area.
New Prairie families are to use door N18 to enter NPHS. New Prairie swimmers are always welcome to attend their corresponding group's practice at Riley.
End of Winter Season/Start of Spring/Summer
Our last practices for each group (depending on coach availability) are as follows:
Group 1 Monday March 18
NP Group 2 Thursday February 22
RHS Group 2 Tuesday March 19
NP Group 3 Wednesday March 6
RHS Group 3 Tuesday March 19
The spring/summer season will resume practice for all Groups on Monday April 8. If your athletes are currently registered with the club your membership will automatically roll over into the spring or summer season.
If you are not registered for this season the spring/summer registration is now open.
If you do not intend to swim in the spring or summer season you will need to notify me by March 24. If you fail to inform me by that date and your account is charged you will not be issued a refund. If you inform me prior to our first practice you do not wish your athletes to continue into the spring your club account will be credited the fees charged.
Speedo Sectionals/IUPUI/March 21-24
Here are the pertinent times for this week’s meet. Our athletes will each be given specific times they are to be on deck for the preliminary session. If an athlete qualifies for finals they will need to be on deck no later than 60 minutes prior to finals starting. If one of our athletes qualifies all of our athletes are expected to be at finals
Prelims Thursday-Sunday
Warm-ups 6:00-8:20
Meet Starts 8:30
Finals Thursday-Saturday
Warm-ups 4:00-5:15
Meet Starts 5:30
Finals Sunday
Warm-ups 3:00-4:15
Meet Starts 4:30
USA Swimming Membership
We still have a few of our Group 3 athletes that have registered but will or already have turned 18. To be eligible to practice/compete with the club once they turn 18 swimmers need to complete the USA Swimming Athlete Protection Training.
Here is a link to the document with instructions on how to register with USA-S. A few of our members have had trouble adding their swimmers once they created their own account. If you have trouble after creating a parent account, try using this link. If your swimmer qualifies for the Outreach Membership (free/reduced lunch at their school) click on this link. Remember, if you use this link you will need to provide documentation to me that your athlete qualifies.
Birth Certificates
If your athlete has never competed in a meet for SBSC (or another USA Swimming club) you will need to send me a copy of their birth certificate. The preferred way is to electronically send a pdf. If that is not possible, please email a pic.
Team Apparel
The local swim shop in town is Milinko’s Scuba & Swim. This is a great place to find a good practice suit or pick up a spare pair of goggles.
We are also partnered with A3 Performance. You can purchase a logoed team suit directly from this site. Here is the link to the A3 Team Store. When your swimmer is old enough to purchase a tech suit (13 and over) this company is who I recommend purchasing from.
USA Swimming Guidelines - MAAPP/Safe Sport
USA Swimming issued a directive with regards to electronic communication and social media contact between coaches and athletes. Most of what is being implemented is common sense and falls in line with our club's policies. A requirement we will need to adhere to is how your minor child communicates with all coaches. For several years we have asked swimmers in Group 2 and Group 3 to text/email their coach if they would be missing practice. Moving forward, swimmers will be instructed to include a parent on all communication with me or any of our coaches.
If you are the parent of a Group 2 or Group 3 swimmer, and have never sent me a text before, please text me so I have your contact info in my phone. This way if I need to contact your swimmer about missing practice I can be sure to include you. My cell phone number is 574-276-6057.
I encourage all parents and swimmers to read the full policy. We are required to keep this policy on our website, here is the link.
Fall and Winter Meet Schedule/Dates of Meet/Location/Deadline to commit
Below is our fall/winter meet schedule. The first date listed is the day(s) of the meet and the second date is the deadline to commit.
Swimmers wanting to compete will need to commit to those meets. The deadlines are based on deadlines that were set in previous years. They may change once the meet hosts posts the meet information. When committing to multiple day meets, if the option to select the days you want is not available, leave a message in the notes section stating the specific days you would like to attend.
Meets marked with an * require swimmers to meet minimum time standards. All pool locations can be found on our website under the "Pools" tab.
Intrasquad Meet/Riley High School/Oct. 4/Oct. 3
WAR Monster Splash/Warsaw High School/Oct 28/Our Results
CON Skypoint/Elkhart Aquatic Center/Nov. 3-5/Our Results
NASA Sprint Meet/Northridge High School/Nov. 4 & 5/Our Results
ELK Rudolph Romp/Elkhart Aquatic Center/Dec. 1-3/Our Results
IA TW Invite/Elkhart Aquatic Center/Jan. 5-7/Our Results
CON IMX/Concord High School/Jan 19-21/Our Results
CON Last Chance/Concord High School/Feb 23-25/Our Results
*IN Swimming Divisionals/Valparaiso High School/Mar. 1-3/Our Results
*IN Swimming Senior State/Elkhart Aquatic Center/Mar 7-10/Our Results
*USA Swimming Speedo Sectional/IUPUI/Mar 21-24/Our Entry
As always, if you have any questions, please do not hesitate to contact me.
--
John VanDriessche
Head Coach
South Bend Swim Club
South Bend Riley High School
(574)276-6057
www.southbendswimclub.com
#SBSCForLife
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Simplifying Business Registration in Kolkata: A Comprehensive Guide.
Navigating the maze of business registrations can be daunting, especially in a bustling city like Kolkata. From private limited companies to trademark registrations, here’s everything you need to know to establish your business successfully.
Starting a business in Kolkata or anywhere else requires navigating a series of legal procedures and registrations. Each step is crucial and contributes to the legitimacy and protection of your venture. In Kolkata, a city known for its entrepreneurial spirit, understanding the nuances of various business registrations is essential for smooth operations. Let's delve into the intricacies of different registrations you might need for your business in Kolkata.
Private Limited Company Registration: Registering your business as a private limited company offers several benefits, including limited liability protection and access to funding. In Kolkata, the process involves obtaining a Digital Signature Certificate (DSC), Director Identification Number (DIN), and filing the necessary documents with the Registrar of Companies (ROC). This registration is suitable for medium to large-scale businesses aiming for growth and expansion.
Business Registration: Kolkata offers various options for registering your business, including sole proprietorship, partnership, and limited liability partnership (LLP). Each structure has its own set of advantages and legal requirements. Sole proprietorship is the simplest form, while LLP combines the benefits of a partnership with limited liability protection. Understanding your business's needs and choosing the appropriate structure is crucial for long-term success.
Trademark Registration: Protecting your brand identity is paramount in today's competitive market. Trademark registration ensures exclusive rights to use your brand name, logo, or slogan, preventing others from using similar marks. In Kolkata, the process involves conducting a trademark search, filing an application with the Trademark Registry, and regular monitoring to safeguard your intellectual property.
LLP Registration: Limited Liability Partnership (LLP) is a popular choice for small to medium-sized businesses in Kolkata. It offers the flexibility of a partnership combined with limited liability protection for partners. The registration process includes obtaining a Digital Signature Certificate (DSC), Director Identification Number (DIN), and filing the incorporation documents with the Ministry of Corporate Affairs (MCA).
Nidhi Company Registration: Nidhi companies are non-banking financial institutions that facilitate mutual benefit among members. In Kolkata, registering a Nidhi company involves adhering to the strict regulations set by the Ministry of Corporate Affairs (MCA). The process includes drafting the memorandum and articles of association, obtaining approvals, and complying with ongoing compliance requirements.
Section 8 Company Registration: Section 8 companies, also known as not-for-profit organizations, are formed for promoting charitable activities, social welfare, or other nonprofit objectives. In Kolkata, registering a Section 8 company requires approval from the Central Government and adherence to specific regulations outlined in the Companies Act. This registration is ideal for entities focusing on social impact rather than profit generation.
Startup India Registration: Startup India initiative aims to foster innovation and entrepreneurship by providing various benefits and incentives to startups. Registering your startup under this scheme can unlock access to funding, tax exemptions, and other support services. In Kolkata, startups can register online through the Startup India portal by fulfilling the eligibility criteria and submitting the required documents.
Navigating the landscape of business registrations in Kolkata can be overwhelming, but with the right knowledge and guidance, it becomes more manageable. Whether you're establishing a private limited company, protecting your brand through trademark registration, or registering as a startup under the Startup India initiative, each step is crucial for the success and sustainability of your business. By understanding the requirements and adhering to the legal procedures, you can lay a strong foundation for your venture in the vibrant business ecosystem of Kolkata.
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Where does NBFC get money from?
Non-Banking Financial Companies (NBFCs) raise funds from various sources to finance their lending and investment activities. Some common sources of funds for NBFCs include:
Deposits: Some NBFCs accept deposits from the public, although they are not allowed to offer savings and demand deposits like banks. Instead, they may offer fixed deposits and recurring deposits to raise funds.
Borrowings: NBFCs can borrow from banks, financial institutions, and other sources to finance their operations. They may also issue bonds, commercial papers, and other debt instruments to raise funds from the capital market.
Equity: NBFCs can raise capital by issuing equity shares to investors. This can provide them with long-term capital to support their growth and expansion plans.
Retained Earnings: NBFCs can also use their retained earnings to finance their lending and investment activities. Retained earnings are the accumulated profits that have not been distributed to shareholders as dividends.
Inter-corporate Deposits (ICDs): NBFCs can raise short-term funds by accepting inter-corporate deposits from other companies.
Foreign Currency Loans: Some NBFCs raise funds by borrowing in foreign currency through external commercial borrowings (ECBs) to benefit from lower interest rates or to tap into foreign markets.
Asset-backed Securitization: NBFCs can securitize their loan portfolios by pooling together loans and selling them to investors as securities. This allows NBFCs to convert illiquid assets into tradable securities and raise funds in the process.
Mutual Funds and Insurance Companies: NBFCs may also raise funds from mutual funds, insurance companies, and other institutional investors by selling them debt securities or participating in co-lending arrangements.
It's essential to note that the specific sources of funds for an NBFC may vary based on its business model, size, and regulatory framework. Regulatory guidelines often dictate the types of funds an NBFC can raise and the permissible limits for each source to ensure financial stability and protect the interests of depositors and investors.
Vakilkaro for NBFC registration in Ghaziabad
For seamless NBFC registration in Ghaziabad, look no further than Vakilkaro. With their expertise and dedication, your NBFC registration process will be swift and hassle-free. Trust Vakilkaro to navigate the legal intricacies with precision, ensuring compliance and efficiency every step of the way. Experience peace of mind as you embark on your NBFC journey with Vakilkaro by your side. And contact Vakilkaro's team today on this number: 9828123489.
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#platform for growing up India's Entrepreneurs#Growup India#Grow Up India#growupindia#growup-india#startup registration#Digital signature#company registration#trademark registration#GST registration#ITR filling#Income tax return#ISO certification#IEC registration#society registration#Haryana society registration#Section-8 registration#NGO registration#12A registration#80G registration#FCRA registration#FSSAI registration#accouting for startups#small business#financial advisory for MSME#financial accounting#accouting#payroll services#financial management#digital certificate
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NGO Registration Process
The following is the process for NGO Registration in India:
Type Determination: Choose the suitable NGO structure – Trust, Society, or Section 8 Company – based on your organization’s objectives.
Name Selection: Choose a unique name reflecting your mission.
Drafting MoA and AoA: Prepare the Memorandum and Articles of Association.
Governing Body Formation: Establish a governing body or managing committee.
Registered Office Designation: Provide an official address for communication.
Documentation Preparation: Gather required identity proofs, address proofs, and photographs.
Registration Application Submission: Submit the application to the relevant authority – Registrar of Trusts, Registrar of Societies, or Registrar of Companies.
Review and Approval: Await review, with possible clarification requests.
Registration Certificate Obtention: Upon approval, obtain the registration certificate.
Tax Exemption Application: Apply for tax exemptions under relevant sections.
Compliance and Reporting: Adhere to statutory requirements, including accounts maintenance, annual returns filing, and audited financial statements submission.
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Online Registration for Section 8 Companies
Non-Governmental Organizations (NGOs) in India have the option to register as a trust under the Trust Act 1882, a society under the Societies Act 1860, or as a Section 8 company under the Companies Act 2013. Opting for Section 8 company registration involves the process of incorporating an NGO, providing the flexibility to engage in activities promoting Art, Commerce, Science, Technology, Sports, Education, Social Welfare, Social Research, Religion, Charity, and Environmental Protection, among others. Once registered, a Section 8 Company has the liberty to operate anywhere in India.
Understanding Section 8 Companies
Considered an upgraded form of registration, Section 8 companies offer numerous advantages for charitable institutions compared to societies and trusts. It has become the preferred choice for NGO registration due to its streamlined registration process, operational ease, and efficient management. The primary objective of a Section 8 company is to advance non-profit causes, spanning various areas such as commerce, art, science, sports, education, research, social welfare, religion, charity, and environmental protection.
Mandatory CSR Registration for NGOs
Since April 1, 2021, NGOs are required to file Form CSR-1 on the Ministry of Corporate Affairs (MCA) portal to register with the Central Government. This initiative enhances the monitoring of Corporate Social Responsibility (CSR) expenditures across the country. The CSR-1 Form, available on the MCA website, is now a mandatory requirement for social organizations seeking CSR funds or acting as CSR implementing agencies.
Documents Required for Section 8 Company Registration
To initiate Section 8 company registration, the following documents need to be submitted:
PAN Card of all directors and shareholders
Aadhaar Card of all directors and shareholders
Recent Bank Statement of all directors and shareholders
Phone Bill or Electricity Bill of all directors and shareholders
Voter ID, Passport, or Driving License of all directors and shareholders
Passport size photo of all directors and shareholders
Rental agreement copy if the registered office is rented.
Registration Process for Section 8 Companies
The process of registering a Section 8 company involves the following steps:
Obtain a Digital Signature Certificate (DSC).
File Section 8 Incorporation Forms on the MCA Portal.
Upon regional director approval, submit the Section 8 company registration application and necessary documents on the MCA portal.
Provide required clarifications to the Registrar of Companies (ROC) during the process.
Upon satisfactory submission, the ROC issues a Certificate of Incorporation and a distinctive Company Identification Number (CIN).
Submission of Memorandum of Association (MoA) and Articles of Association (AoA) follows the issuance of the license. Before completing the registration, ensure the acquisition of Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), and a bank account for the company.
Requirements and Compliances for Section 8 Company Registration
Section 8 companies must adhere to certain requirements and compliances:
Minimum of two directors and two members for incorporation.
No minimum share capital requirement.
Charitable objectives and prohibition of profit distribution among members.
Governance by a Board of Directors, as specified in the MoA and AoA.
Compliance with rules and regulations under the Companies Act 2013.
Adherence to the provisions of the Income Tax Act.
GST registration if goods and services exceed the prescribed turnover limit.
Registration Fees for Section 8 Companies
The approximate registration fees for Section 8 companies in India are as follows:
DSC & DIN: Around Rs. 3,000
Company Name Reservation: Approximately Rs. 1,000
MoA, AoA, Government, and Incorporation fees: Rs. 6,000-8,000*
Notary and Stamps: Approximately Rs. 2,000
Professional Fees: Rs. 8,000-10,000*
Note: Figures are approximate and subject to variation based on various factors.
Benefits of Section 8 Company Registration
Section 8 companies offer various benefits, including:
No minimum capital requirement.
Eligibility for tax benefits under the Income Tax Act.
No stamp duty on incorporation.
Separate legal identity for the company.
Enhanced credibility due to strict compliance requirements and mandatory annual audits.
Exemption for donors under Section 80G for tax benefits.
Annual Compliances for Section 8 Companies
Section 8 companies are required to fulfill annual compliances, including:
Minimum of two board meetings annually.
Maintenance of proper books of accounts.
Preparation of annual financial statements, including the balance sheet, profit and loss account, and cash flow statement.
Mandatory annual audit of financial statements.
Conducting an annual general body meeting within six months of the financial year-end.
Income tax return filing and filing of financial statements with the ROC using Form AOC-4.
Filing of an annual return in Form MGT-7, providing information about directors, shareholders, and other key details.
Fulfillment of additional compliances based on specific registrations, such as obtaining 12AA registration for tax exemption or 80G registration for donor tax benefits.
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Documents Required for Section 8 Company Registration
Following are some crucial documents required for Registration of Section 8 Company:
Identity/Address proof of Directors or Shareholders:
Address proof of Registered Office:
Other Documents:
Procedure for Section 8 Company Registration
Following is the step-by-step procedure for Section 8 Company Registration:
Step 1: Obtain DSC & DIN:
First, the applicant needs to obtain a Digital Signature Certificate of the proposed Directors. Once they receive DSC, file Form DIR-3 with ROC for obtaining DIN. The identity & address proof should be attached for getting DSC. Once DIR-3 is approved, the Registrar of Companies will allot a DIN to the proposed Directors.
Step 2: Filing of INC-12 Application Form:
After getting DSC and DIN, the next step is to file Form INC-12 with the Registrar of Companies to apply for a Licence under Section 8 Company along with the attachment of the required documents. Once the form is approved, a Licence under Section 8 Company will be issued in Form INC-16.
Step 3: Filing of SPICe+ Form:
After getting a License under Section 8, you need to file an SPICe+ Form with the Registrar of Companies (ROC) for the Registration along with the vital documents.
Note: Once the Registrar of Companies is satisfied with the forms submitted, he or she issues a CoI (Certificate of Incorporation) along with a Unique CIN.
To know more, visit: Section 8 Company Registration
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Understanding the Foreign Contribution Regulation Act: A Comprehensive Overview
In the modern world where everything is connected, globalization makes it easier to share resources, ideas, and money between different countries. This has many advantages, but it also makes people worry about whether things are open and honest, and if money from other countries might be used the wrong way. To deal with these worries, governments make rules to keep an eye on and control money coming from abroad. In India, the Foreign Contribution Regulation Act (FCRA) is an important set of rules for this purpose.
What Is the Foreign Contribution Regulation Act? (Purpose of Foreign Contribution Regulation Act?)
The Foreign Contribution Regulation Act, commonly known as FCRA, is legislation enacted by the Indian government to regulate the acceptance and utilization of foreign contributions or donations by individuals, associations, and organizations within India. The primary purpose of FCRA law is to ensure that such contributions are not utilized for activities detrimental to the national interest or for any activities that may compromise the sovereignty and integrity of the nation.
Why Is an FCRA Certificate Required?
A Foreign Contribution Regulation Act (FCRA) certificate is required in India for any entity (organization, association, etc. ) that wants to receive or utilize foreign contributions, even if they're well-intentioned. There are several key reasons for this:
1. Transparency and Accountability:
The Foreign Contribution Regulation Act (FCRA) ensures clear and open records of foreign funds entering India. This helps to prevent:
Money laundering: Illegally obtained funds being disguised as donations.
Foreign interference: Unwanted influence on Indian entities and activities.
Misuse of funds: Ensuring donations are used for their intended purposes.
2. National Security:
Tracking foreign contributions helps authorities monitor potential threats to national security. This could involve:
- Funding of extremist groups or activities harmful to India's interests.
- Attempts to influence elections or policy through foreign funding.
3. Fairness and Public Trust: The Foreign Contribution Regulation Act (FCRA) promotes a level playing field for organizations receiving donations. It prevents:
-Unfair advantages gained by those receiving unregulated foreign funds.
- Erosion of public trust in non-profit organizations due to lack of transparency.
4. Compliance with International Agreements:India is a signatory to various international treaties against money laundering and terrorism financing. The Foreign Contribution Regulation Act (FCRA) helps fulfill these obligations.
Overall, the FCRA (Foreign Contribution Regulation Act) certificate acts as a gatekeeper, ensuring foreign contributions are used legally, ethically, and for the benefit of India.
Who Is Eligible for Fcra?
Under the provisions of the Foreign Contribution Regulation Act (FCRA) law, certain categories of entities are eligible to apply for an FCRA certificate. These include:
1. Non-profit organizations (NGOs): Non-profit organizations, commonly known as NGOs, are entities that operate for the public benefit or the betterment of society without the primary goal of making a profit.
2. Societies: Societies are voluntary associations of individuals united by common interests or goals, such as promoting art, culture, education, sports, or charitable activities. They are typically governed by a set of rules and regulations and are registered under the Societies Registration Act, 1860.
3. Trusts: Trusts are lawful organizations formed to hold possessions for the advantage of particular people or groups, called beneficiaries, as outlined in a document known as a trust deed. Trusts are often set up for charitable, religious, educational, or philanthropic aims.
4. Section 8 companies: Section 8 companies, also known as non-profit companies, are entities incorporated under the Companies Act, 2013, with the primary objective of promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, or any other charitable purpose.
5. Registered associations: Registered associations refer to any group or organization that has been formally registered under relevant laws or regulations governing associations or clubs.
6. Individuals seeking foreign contributions: Individuals who seek foreign contributions for specific purposes such as social, educational, religious, or cultural activities are also eligible to apply for an FCRA certificate.
Who Is Exempt From Fcra?
The Foreign Contribution Regulation Act (FCRA) applies to most organizations that receive foreign contributions, but there are some exceptions. These exceptions include government organizations, organizations funded by the government, organizations that receive contributions from family members living abroad, and organizations that have obtained specific prior permissions or clearances from the government.
What Documents Are Required For the Foreign Contribution Regulation Act?
The documents required for the Foreign Contribution Regulation Act (FCRA) vary depending on whether you're applying for registration or seeking prior permission for a specific foreign contribution. Here's a breakdown:
Registration:
Mandatory:
Registration certificate of your organization (Society Registration Act, Trust Act, etc.)
Memorandum of Association/Trust deed
Activity report for the past three years
Audited financial statements for the past three years
Bank details of designated FC receipt-cum-utilisation account
Details of key members of the organization
Optional (may enhance application):
Proof of experience in utilizing foreign contributions
Letters of support from credible organizations
Detailed project proposal if requesting specific project-based registration
Prior Permission:
Mandatory:
FC-3B application form filled and signed
Details of the foreign contribution (source, amount, purpose)
Project proposal (if applicable)
Bank details of designated FC receipt-cum-utilisation account
Details of key members involved in the project
Additional Points:
All documents must be in English or Hindi, or translated into these languages.
File size limits may apply for online submissions.
Consider seeking legal counsel to ensure complete compliance and understand specific requirements for your situation.
Remember, complying with the Foreign Contribution Regulation Act (FCRA) ensures transparency and ethical handling of foreign contributions, contributing to a trustworthy system.
To Know More Information About Fcra, Contact M&M Law Partners
Navigating the complexities of the Foreign Contribution Regulation Act (FCRA) compliance can be challenging for individuals and organizations alike. For expert guidance and assistance with the FCRA registration process, compliance, and enforcement, consider reaching out to experienced FCRA attorneys such as M&M Law Partners. They can provide important assistance in guaranteeing your compliance with the law due to their extensive understanding and knowledge of FCRA laws.
FAQ
Is Fcra Mandatory?Yes, Foreign Contribution Regulation Act (FCRA) compliance is mandatory for entities seeking to receive foreign contributions in India.
Who Manages Fcra? Foreign Contribution Regulation Act (FCRA) is managed and regulated by the Ministry of Home Affairs, Government of India.
What Are the Government Fees for Fcra?
The government fee for FCRA prior permission is ₹5000, while the Government fee for Fresh FCRA registration is ₹10000.
What Is the Validity Period of an Fcra Certificate?An FCRA (Foreign Contribution Regulation Act) certificate is typically valid for five years from the date of issue.
What Is the Time Limit for Fcra Renewal?
Entities holding an FCRA certificate must apply for renewal at least six months before the expiry date of the current certificate to ensure continuity of foreign funding eligibility.
In simpler terms, any group or organization in India wanting to receive foreign donations must fully understand the Foreign Contribution Regulation Act (FCRA). Following the FCRA Act rules and getting legal advice when needed helps them stay compliant, operate transparently, and contribute to a fair and trustworthy system overall.
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