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What is Section 8 company?

Section 8 company is also known as section 25 company and are incorporated to promote commerce, art, science, research, sports, social welfare, education, charity, religion, protection of the environment or any such object. The condition is that such a Company should use its profits (if any) for promoting its objects and should not pay any dividends to its members. This is based on New Company Act,2013. 

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