Section 8 Company
Section 8 companies are non-profit organizations in India that are established to promote social welfare and other non-profit objectives. The Companies Act of 2013 provides a legal framework for these companies, and they are exempt from some requirements that apply to other commercial companies.
Here are some reasons why Section 8 companies are necessary:
i. Promote non-profit objectives
ii. Reinvested profits
iii. Encourage social responsibility
