ONE PERSON COMPANY(OPC)

A Section 8 company is a non-profit organization (NPO) in India that promotes social welfare, the arts, education, commerce, science, research, sports, religion, charity, and environmental protection. Section 8 companies are registered under the Companies Act, 2013, and are also known as Section 25 companies.

Here are some features of Section 8 companies:

• Non-profit objectives: Section 8 companies are established to promote non-profit objectives and use their profits to further their mission.
• No dividends: Section 8 companies do not distribute profits to their members as dividends.
• Exemptions: Section 8 companies are exempt from some requirements that apply to other commercial companies.
• Incorporation certificate: Section 8 companies obtain an incorporation certificate from the central government.
• Regulatory requirements: Section 8 companies must follow the rules and regulations of the Companies Act, 2013, the Income Tax Act, and the GST Law.
• Board of Directors: Section 8 companies are managed by a Board of Directors.