SECTION 8 COMPANY:
- Charitable objectives: Section 8 companies do not aim to make profits.
- No minimum share capital: Section 8 companies, unlike all other companies, do not require a prescribed minimum paid-up share capital.
- Limited liability: Members of these companies can only have limited liability.
Section 8 Company is exempted for the
payment of stamp duty applicable for registration. Numerous tax exemptions are provided to
section 8 companies as well as to the donors who are contributing to Section 8
Companies.
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