Can I register a Section 8 non-profit company in Aizawl and what are the conditions?

Detailed Legal Analysis

Yes, you can register a Section 8 non-profit company in Aizawl, Mizoram, under the Companies Act, 2013. A Section 8 company is established for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, or other similar objectives, and it prohibits the payment of dividends to its members.

Here are the conditions and steps to register a Section 8 non-profit company:

• Minimum Requirements:
  • At least two directors are required for the company.
  • At least two members are needed for incorporation.
  • Directors and members can be the same individuals.
• Objectives:
  • The company must operate for promoting charitable purposes and should not intend to make profits.
  • Any income generated should be used solely for the stated objectives of the company.
• Application Process:
  • Obtain a Digital Signature Certificate (DSC) for all proposed directors.
  • Apply for a Director Identification Number (DIN) for all directors.
  • Reserve the company name through the RUN (Reserve Unique Name) form on the Ministry of Corporate Affairs (MCA) website.
  • Draft the Memorandum of Association (MoA) and Articles of Association (AoA) as per the requirements of the Companies Act, 2013.
  • File the incorporation application (Form INC-12) with the Registrar of Companies (RoC) along with necessary documents and fees.
• Documents Required:
  • MoA and AoA.
  • Proof of address of the registered office.
  • Identity and address proof of directors and members.
  • Declaration and affidavit as per Form INC-14.
• License:
  • Upon approval, the Registrar issues a Certificate of Incorporation along with a license under Section 8 of the Companies Act, 2013.
• Compliance:
  • Section 8 companies are required to comply with regular annual filing requirements under the Companies Act.
  • Tax exemptions under Section 80G of the Income Tax Act, 1961, may be applied for if the company qualifies.

In summary, registering a Section 8 non-profit company in Aizawl involves ensuring compliance with the Companies Act, 2013, and fulfilling all necessary documentation and procedural requirements.