A company formed for charitable objects (Arts, Science, Commerce, Religion). It replaces the old “Trust/Society” for professional NGOs
Eligibility & Criteria
- Limits: Profits cannot be distributed as dividends; they must be reinvested in the cause.
- Penalties: Misuse of funds or violating the “Non-Profit” license can lead to fines up to ₹1 Crore and cancellation of the license.