Section 8 Company or a Non-Profit organisation (NPO) is a Company established for promoting commerce, art, science, religion, sports, education, research activities, charity or any other useful social object, provided the profits and donations is applied for promoting only the objects of the company and no dividend is paid to its members or owners.
The term No Profit does not mean that the Company cannot generate profit or income, but what it means is applying the income for promotion of the object and not for distributing it to the promoters. It means that the Company can earn profits but the promoters cannot be benefitted out of those profits.
I have received the company incorporation documents and extremely pleased to see the way documents are arranged. The service Startupwala provided exceeded all the expectations. It’s been a great experience to work with BMC to get this done. I would definitely give five stars to BMC's process and the way BMC dealt with the customer. I would promise to recommend my friends if something they would need that BMC serve. Thumbs up for the services and I would like to say WOW!!!! Thanks!!
Mr. Tapan Parida
Director, URNATI Builders Pvt. Ltd.