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Section 8:- Formation of Charitable Trust

✓ Check points

• It is proved to the satisfaction of Central Govt.

• Has in it's objects the promotion of commerce, art, science, sports, education, research, social welfare, charity or any such other object.

• Intends to apply income, if any, in promoting it's objects.

• Intends to prohibit payment of dividend to it's members.

• A company shall not alter the provisions of it's Memorandum or Articles except with the previous approval of CG.

✓ A firm may be a member of section 8 company

✓ Company registered as a section 8 company may be converted into any other kind of company after complying provisions as may be prescribed.

✓  Can be amalgamated with another company, having similar objects.

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By:- CS Saheb Dumbwani

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