What is Section 8 Company? Which company provides Section 8 Company Registration Online?
What is a Section 8 company ? A company is a legal entity that is formed by an individual or a group of individuals to carry out business operations with the ultimate objective of making profits. It is not mandatory that all the companies should have profit-making as their ultimate goal, there are companies whose ultimate objective is not profit-making but have a charitable and non-profit objective. The compan y whose main objective is social welfare is known as a S ection 8 compan y . These types of companies are known as section 8 companies because they get recognition under section 8 of the company act, 2013. These companies are involved in social welfare and their ultimate objective is to uplift society instead of maximizing their profits. The profits of a S ection 8 company are used further to serve its cause and objectives. The profits are not distributed amongst its members. If we talk about India then 3 types of legal forms exist for a non-profit organizati...