There are many organizations that usually work solely for the charitable purpose. To register for NGO based streaming, there is a form of section 8 company which is expected to be fulfilled. And if you are planning to register here for the first time and don’t really know how then certainly this is the right page where you have landed up. Understand the fact that as per the Companies Act, 2013 there are certain things that you need to follow. In country like India, to apply for an NGO, you need to have the purpose for applying to Section 8 company, there are certain pre requisites to register during the process, certain forms related to the registration needs to be fulfilled and the process for Section 8 company incorporation has to be followed.
Understandings the purpose:
There are still many people who are new to the concept of section 8 foundation registration and if you are one of them then let me tell you it is important that you be pretty much clear with the purpose of the same. To establish the company as the section 8 can help in promoting the objectives that are solely related to charitable purpose that includes arts, trade, education, commerce, environment protection, research, charity, and sports to name a few. The income of the company if there is any kind would be applied for promotion of the non profit objectives and may not be evenly distributed as the shareholders dividend.
The requirement to be known:
There is no requirement with regards ro the minimum paid up capital to be followed when it comes to establishing a section 8 company. However, for the incorporation at least 2 directors are needed as the private limited company. Other than this if the incorporation would be going to public limited then three directors at minimum would be need. Generally the maximum number is of 200 in case the private limited company is incorporated where as in case of public there is no specific limit at all.
Pre-Requisites to the Registration Process:
As a part of section 8 foundation registration in India there are some pre requisites that needs to be followed talking of which, it is important:
To get the DSC which is the digital signature of the directors who have been proposed of the company and would need to also filed online with digital signature of there present on the form. Such type of signature certificate is generally issued by the government who is well recognised agency as well. You are advised to have at least class 3 or 2 category DSC.
To have the DIN which is the director identification number applied. You need to apply for the same for the directors who would be the recognised one for the company. The allotment application of DIN needs to be present in the form DIR-3. You need to also attach the scan copy of cercal documents that includes the PNN card copy which is self-attested along with the director’s address proof and submit it online at the portal of MCA.