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Section 8 company

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3 Points Posted on 04 January 2021
How to take money out of a section 8 company?
Is a section 8 company a bottomless abyss.
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On 04 January 2021 at 11:34 Report
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2 Points Posted on 05 January 2021
As per provision of Companies Act one can not take money out of section 8 companies.
However if section 8 is going to stop then the excess money i.e surplus is transfered to another section 8 company which works in same way.
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On 05 January 2021 at 12:21
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3 Points Posted on 05 January 2021
Thank you for sharing your knowledge but what I exactly wanted to know is whether we can take the money out of section 8 company without investing it further, not necessarily from companies act point of view but what happens in practical life .
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On 05 January 2021 at 12:39
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Accountant
4533 Points Posted on 16 January 2021
As per section 8(1) (a) of the Companies Act, 2013 section 8 company can carry such type of activities. Bonus can be paid to employ but not to members even they are employees. There is no restriction on payment remuneration to employees/director
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On 16 January 2021 at 19:35


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