Amit Bhattacharjee & Associates: Section -8 Company (Foundation)

In India, Section-8 Company is regulated by the Indian Companies Act, 2013 and is administered by the Ministry of Corporate Affairs, Government of India. The Section 8 Company means a Company formed with an object to promote commerce, art, science, sports, research, education, religion, protection of environment, charity or any other object, who intends to apply their income and profits in promoting their objects and prohibits the payment of dividend to its members. This type of NGO is favorable for those who want to work on PAN India Basis and on a greater scale. Minimum members required to incorporate Section-8 Foundation is 2 members.