Q. What are the advantages for Section 8 (pros/merits) company?
by Paras Mehra 1.38K
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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