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…

REGISTRATION OF SECTION 8 COMPANIES A non-profit organization registered under section 8 of companies Act, 2013 as a company corresponding of section 25 of companies’ Act,1956. Section 8 companies are incorporated with the objective for the promotion of commerce, art, science, sports, education, research, social welfare or any such other objective. The profits earned by…

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…

Annual Filling is a mandatory for every company incorporated in India. The E-form filing along with the required documents must be filed with MCA. All companies registered under the Companies Act, 2013 or earlier like private limited company, one person company, limited company, and section 8 company is required to file MCA annual return and…

NGOs are legally established organizations which are generally considered to be non-profit oriented groups whose ultimate purpose is to work for public interest, and they work independently from the Government. Generally, the activities of NGO’s are to promote the interests of the poor, protect the environment, provide basic social services, or undertake community development and to…

The Reserve Bank of India has introduced a new reporting form of foreign transactions vide its RBI/2017-18/194 dated A.P (DIR Series) Circular No.30 June 07, 2018 wherein they have integrated all the existing forms into one single structure known as Single Master Form which were earlier reported in the e-biz portal which was later discontinued…

In a general context an authorized Share Capital means the maximum amount of share capital which a Company can allocate to its shareholders during its life as authorized by its constitutional documents. It can be altered with the permission of the Members of the Company. In Legal sense as defined under the Section2(8) of the…

The Companies which are registered after the commencement of the Companies (Amendment) Ordinance, 2018 in India and is having a share capital shall file a declaration for the commencement of business certificate before commencing any business or exercising any borrowing powers. Any company which is incorporated after 2nd November 2018 is required to get a…

A Digital Signature Certificate is a secure digital key that is issued by the certifying authorities for the purpose of validating and certifying the identity of the person holding this certificate. Digital Signatures make use of the public key encryptions to create the signatures. A digital signature certificate (DSC) contains information about the user’s name,…

The Companies majorly adopt the Reduction of share capital for their internal restructuring or for altering their capital structure which it involves reduction of issued, subscribed and paid up share capital of the Company whether pertaining to equity shares or preference shares or both of a Company. Circumstances where Companies opt for reduction in their…

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