List of Top 10 Section 8 Companies in India 2023

In India, various company types exist, including Section 8 Companies, Private Limited Company, Limited Liability Company, Public Limited Company, among others. This article focuses on the Top 10 Section 8 Companies in India for the year 2023.

While most companies aim for profit and business expansion, Section 8 companies have a distinct purpose. These entities, which can be registered as NGOs, prioritize objectives beyond profit-making. The primary goal of Section 8 companies in India is to contribute to the welfare of society in sectors like education, science, technology, art, culture, etc. Numerous Section 8 companies are actively working to uplift underdeveloped sections of society, contributing to the nation’s welfare. A comprehensive list of the top 10 Section 8 companies in India for 2023 will be provided later in this article.

Definition of Section 8 Company

Definition of Section 8 Company

In India, a Section 8 company operates under the jurisdiction of the Ministry of Corporate Affairs, governed by the Companies Act of 2013. According to this legislation, a Section 8 company is established in India with the primary objective of providing societal benefits through promotional activities in areas such as research, education, human resource development, nutritional benefits, and more.

These entities are not intended to pursue profit generation. However, if engaged in a manufacturing industry and accruing profits, such earnings must be reinvested in the business and cannot be distributed among the members or shareholders of the Section 8 company.

List of Top 10 Section 8 Companies in India

List of Top 10 Section 8 Companies in India

The list of Top 10 Section 8 Companies in India are:

Tata Trusts: Established in 1892 by Jamsetji Tata, Tata Trusts stands as one of the oldest and largest non-profit organizations in India. Devoted to causes such as education, healthcare, rural development, and livelihoods, the Trusts actively support various institutions and organizations nationwide, aiming to amplify their capacity and impact.

Azim Premji Foundation: Founded by philanthropist and business magnate Azim Premji, the Azim Premji Foundation focuses on elevating the quality of education in India, particularly within government schools. The foundation spearheads programs dedicated to fostering sustainable rural development.

Bill and Melinda Gates Foundation India: As the Indian counterpart of the Bill and Melinda Gates Foundation, established by Microsoft co-founder Bill Gates and his wife Melinda Gates, this foundation strives to enhance global health, diminish poverty, and advance educational opportunities. In India, its focus extends to areas such as maternal and child health, agricultural productivity, and sanitation initiatives.

Oxfam India: Addressing poverty and inequality in India, Oxfam India is a non-profit organization that concentrates on economic inequality, gender justice, and humanitarian responses. The organization actively promotes sustainable development and advocates for policy changes.

Smile Foundation: Dedicated to providing education, healthcare, and livelihood opportunities to underprivileged children and youth, Smile Foundation also engages in disaster relief initiatives across India.

Child Rights and You (CRY): CRY, a non-profit organization, works towards safeguarding the rights of underprivileged children in India. Its focus areas include combating child labor, child marriage, and child abuse. CRY supports community-driven development programs for the overall well-being of children.

Aga Khan Foundation India: Focusing on marginalized communities, Aga Khan Foundation India aims to enhance their quality of life through initiatives in education, healthcare, livelihoods, and cultural heritage preservation. The foundation also actively engages in disaster relief efforts.

GiveIndia Foundation: With a mission to promote philanthropy in India, GiveIndia Foundation connects donors with credible NGOs across the country. The foundation supports causes such as education, healthcare, and livelihoods.

Pratham Education Foundation: Dedicated to improving the quality of education in India, Pratham Education Foundation focuses on enhancing basic reading, writing, and arithmetic skills among children in government schools. It also supports vocational training programs for youth.

HelpAge India: Working towards the well-being of elderly individuals in India, HelpAge India provides healthcare, livelihood, and social protection services to the elderly population. The organization also advocates for policy changes to improve the status of the elderly in India.

Features of a Section 8 Company

Features of a Section 8 Company

Non-Profit Objective: The primary objective of a Section 8 company is not profit generation through business transactions. In the event of any profits, they cannot be distributed among its members.

Minimum Share Capital Requirement: Unlike other types of companies, there is no mandatory minimum share capital requirement for the establishment of a Section 8 company.

Limited Liability: Members of a Section 8 company benefit from limited liability. This implies that in the face of company losses, they are not personally obligated to cover the financial shortfall.

Exemptions: Due to the nature of their operations, Section 8 companies enjoy various exemptions from the government, contributing to their distinctive status and facilitating their mission-oriented endeavors.

Section 8 Company Registration Online

Section 8 Company Registration Online

Registering a Section 8 company is a streamlined online process that involves applying and submitting documents through the Ministry of Corporate Affairs portal, followed by approval. The registration undergoes thorough checks and validations by the ministry, and the entire process typically takes approximately 7–10 working days. The registration fee for a Section 8 company is approximately Rs 4,999, covering both government fees and professional charges.

For a hassle-free registration experience, you can enlist the assistance of our professional team at Auriga Accounting. Our experts can guide you through the process, ensuring a seamless registration for your Section 8 company in a single application.