The Government of India has always supported the upliftment of art, culture, society and religion through its various schemes and policies. In regard to this, the Government of India has introduced the concept of Non-Profit Organisations which are also known as Section 8 companies. The Section 8 Company is incorporated just like any other company but is having some benefits over other types of companies such as no minimum capital requirements, no stamp duty charges on its incorporation, easy company law compliances and many more such benefits. The objective of Section-8 company is to promote the activities like sports, education, research, social welfare, religion, charity, or any such other object and should apply its profit if any, or other income in promoting its objectives and prohibits the payment of any dividend to its members.
