Question

_companies do not require share capital but these companies can accept donations​

Answer 1

Answer:

non profit making companies do not require share capital but these companies can accept donation

Answer 2

Charitable companies or Non-profit companies do not require share capital but these companies can accept donations.

Section 8 company definition:

"The Companies Act defines a Section 8 company as one whose objectives is to promote fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, or other similar objectives. "

Charitable companies:

• Charitable or non-profit companies are also called as Section 8 companies since they are recognised under the Section 8 of the Companies Act, 2013.
• The Section 8 company proposals are approved by the Central Government under several requirements and license will be granted.
• These companies also comes under the Limited companies and would gain all the benefits categorized for Limited companies.
• They could function only under the regulations provided in the license and would require permission from the Central Government in case of any adjustments.