What are the advantages for Section 8 (pros/merits) company?

What are the advantages for Section 8 (pros/merits) company?

Section 8 company is nonprofit company which aims to support the social objectives of the society. There are many advantages of this form over trust and society registration:

  • It is easier to register under Income tax act, 1961 because section 8 company have proper documentation.
  • It is the registered form of NPO and hence more trust factor to people donating into it.
  • Section 8 company can work on PAN India basis and does not require any separate approval.
  • Section 8 company is formed after Central Government approval and hence offers more authenticity.

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