Non-Governmental organizations are autonomous organization that neither form part of a government nor was originated by any state. Therefore, it is free from government involvement. These organizations are set up or initiated by group of individual or citizens across the globe who intend to serve their members or others in several ways for their betterment….

In this article we will discuss about the new procedure for registration of entities for undertaking CSR Activities, with effect from 1st April 2021 every entity undertaking CSR Activities must register with MCA by filing form CSR-1. In accordance with the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021, company can undertake CSR activities either…

The pandemic situation has led many poor workers to lose their jobs and livelihood and amid this situation donation has played a vital role to meet their daily necessities. So to encourage this and keeping in mind the interest of donors, Income Tax Act, 1961 have introduced Section 80G dealing with deductions related to donations…

In union budget of 2020, the honourable finance minister introduced a major change for granting exemption under section 12AA, 12AB and donation under section 80G to trust, society and other charitable establishments etc. Page Contents Introduction Compliances related to Charitable Trusts Eligibility criteria for registration of Charitable Trusts Registration process of Religious or Charitable Trusts…

What is Section 8 Company? A Company is referred to as Section 8 Company when it is registered as a Non-Profit Organization (NPO) i.e. when it has motive of promoting arts, commerce, education, charity, protection of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for…

Content What is society? Purpose for creation of society Eligibility and requirement to form a society Procedure to form a society Post compliances  What is society? A society is an association of several persons combined for the promotion of a common cause without any monetary gain. Society is a legal form and is governed by…

Content Introduction Section 12A Amendment in section 12AA New section 12AB Amendment in section 80G Amendment in section 80GGA Introduction As on February 01, 2020 Finance Minister of India, Ms. Nirmala Sitaraman presented the Union Budget 2020 wherein she proposed substantial amendments for granting exemptions to the charitable/ religious trusts, institutions, etc. She proposed to…

CONTENT. What is society  Purpose of society Incorporation of society. Alteration of constitution and bylaws. Importance of society act WHAT IS SOCIETY? In common words society means a group of people which runs any business for the benefits of its members. As according to the societies act, “society” means- A society that is incorporated, amalgamated,…

Content: Introduction Trust Company Work of a trust company Benefits of trust Advantages of trust Disadvantages of trust Tax requirement Introduction Before anyone imagines this as a trust that we have in our friends, God, parents and the loved ones, let me tell you that the one we are taking here lays its roots in…

Content: What is section 8 Company as per IT Act 2013 Features of Section 8 Company Privileges for Section 8 Company Minimum requirements for section 8 Company Exemption for Section 8 companies Income tax exemptions How to get registered under Section 8 company? Frequently asked questions What is section 8 Company as per IT Act…

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