List of Top 10 Section 8 Companies in India 2024
Definition of a Section 8 Company
A Section 8 Company is a type of non-profit organization in India, registered under Section 8 of the Companies Act, 2013. The primary objective of such companies is to promote charitable activities like **social welfare, education, research, environmental protection, religion, art, culture, or any other objective aimed at benefiting society. Unlike other companies, Section 8 companies do not distribute profits to shareholders or members but instead reinvest the profits to further their social objectives.
Key features of Section 8 Companies include:
– No profit motive: The company is not allowed to distribute profits or dividends to its members.
– Charitable objectives: It must have a clear purpose of promoting education, science, arts, charity, or other social causes.
– Special privileges: Section 8 companies enjoy certain tax exemptions and compliance relaxations from the government.
1. Tata Trusts
- One of India’s oldest and most reputed charitable organizations, Tata Trusts focuses on education, healthcare, and community development.
2. Azim Premji Foundation
- Established by the founder of Wipro, this foundation aims to improve the quality of education in India and build sustainable livelihoods.
3. Smile Foundation
- A national-level NGO working in the areas of healthcare, education, and women’s empowerment, Smile Foundation has made significant contributions across India.
4. Goonj
- Known for its innovative approach to addressing basic needs like clothing, Goonj works towards disaster relief and rural development.
5. Pratham Education Foundation
- One of India’s largest NGOs focused on education, Pratham works to improve the quality of education and provide skill development to underprivileged children.
6. HelpAge India
- A non-profit organization dedicated to the well-being of the elderly, HelpAge India provides healthcare, pensions, and rights advocacy.
7. Teach for India
- Teach for India aims to eliminate educational inequity by placing committed fellows in low-income schools to teach and mentor students.
8. The Akshaya Patra Foundation
- This organization runs one of the world’s largest mid-day meal programs, providing nutritious food to school children in India.
9. CRY (Child Rights and You)
- CRY works to ensure that children across India have access to quality education, healthcare, and protection from exploitation.
10. NASSCOM Foundation
- The CSR arm of NASSCOM, this foundation focuses on leveraging technology to create social change through skill development, digital literacy, and education initiatives.
These Section 8 companies are driving positive social impact across India, addressing critical issues like education, healthcare, and community development.