Section 8 Company
Section 8 of the Companies Act, 2013, which pertains form establishment ‘for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object’, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Company registered under this section are therefore charitable or not-for-profit purposes.
CFO Angle can speed fast the process and usually it takes about 20 business days. The time taken also depends on relevant documents provided by the applicant and speed of approvals from government.