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Section 8 Company is a type of NGO that works for non-profit and charitable purposes. The income and profit earned from the company is used to promote the objectives of the company and not to be distributed as dividends to its shareholders. It is registered under Companies Act, 2013.
Section 8 company is an upgraded form of Society and Trust. It has many benefits over traditional forms of charitable institution registration. Section 8 company is the most popular form of NGO registration in India. It is easy to register, run and manage.
The main purpose of Section 8 company is to promote non-profit objectives such as commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment and other charitable purposes.