How to Make the Consolidation of Accounts of Section 8 Companies?
In India, there are two different types of businesses. The first is a profitable business, whereas the second is not. According to the Section 8 Companies Act of 2013, section 8 company incorporations are made. There is a distinct purpose behind the Section 8 Companies Act. The Section 8 Companies' mission is to further the arts, commerce, science, research, education, sports, social welfare, charity, and other fields. You must first move through with the Section 8 company formation in order to fulfill the particular objectives. What Are The Specialities of the Section 8 Companies? The main characteristic of a section 8 agency is that these businesses are founded with the express purpose of donating money to charity. Typically, the members of a subsidiary can split the earnings. However, members of Section 8 companies must adhere to specific rules in order to make particular use of revenues. The board of directors must state that none of the board members should receive a share of...