A Section 8 Company is a non-profit organisation created to further social, scientific, educational, or philanthropic purposes. It is regulated under Section 8 of the Companies Act, 2013 in India. The main purpose of these businesses is to use their revenue and earnings to further their declared goals, which might include social welfare, healthcare, or education. Section 8 Companies are free from some taxes, have limited accountability for its members, and need to apply for a license from the central government. They are a common legal form for organizations committed to social and humanitarian endeavors in India, although they are not permitted to pay dividends.
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