Section 8 Companies 

A sort of legal entity recognised in India under the Companies Act of 2013 is a section 8 company. It is a nonprofit corporation created with the purpose of advancing business, the arts, sciences, religion, charitable causes, or any other helpful endeavour. 

The corporation is managed by the Ministry of Corporate Affairs and has to have "Section 8 Company" in its name (MCA). Additionally, these businesses qualify for tax advantages and are excluded from several regulatory compliance requirements under the Companies Act.

Here are some key features of a Section 8 company in India:

Objectives: 

The primary objective of a Section 8 company is to promote commerce, art, science, religion, charity, or any other useful object.

Legal status: 

A Section 8 company is a legal entity registered under the Companies Act, 2013.

Name: 

The name of the company must include the words "Section 8 Company".

Governance: 

The governance of a Section 8 company is overseen by the Ministry of Corporate Affairs (MCA).

Limited liability: 

The liability of members is limited to the amount of capital they have contributed to the company.

Tax benefits: 

Section 8 companies are eligible for tax benefits under the Income Tax Act, 1961.

Regulatory compliance:

 These companies are exempt from certain regulatory compliance under the Companies Act, 2013.

Not-for-profit: 

Section 8 companies are not-for-profit organizations, meaning that they cannot distribute profits among its members.