Section 8 company
AGARWAL TAX CONSULTANTS (10 Points)
22 December 2020
can we use this company for micro finance and can we use micro finance word ?
2 Replies
ayusmita
(Tax consultant)
(5885 Points)
Replied 23 December 2020
As per my knowledge yes use for micro finance with a objective to promote a public cause and the proceeds generated by the entity is only used to support the state public causes
don't know about the word using
hari sarda
(student)
(77 Points)
Replied 23 December 2020
No, as per recent mca and rbi guidelines, a section 8 company can't use word microfinance and also can't do the same business. only such company can do is a small portion of his business which is ancillary nto main object. For details feel free to contact harisarda01 @ gmail.com
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