Exemption to sec. 8 companies
This query is : Resolved
29 October 2016
pls advice whether benefits of exemption u\s 11 & 12 & 80G of IT Act is available to Sec. 8 company ( non profit making CO.) like charitable trust
30 October 2016
In order to get benefit of exemption they have to make registration income tax commissioner in Form 10A .
25 November 2016
Yes...the benefit of exemption u/s 11 is available so long as the objective of the organisation (be it a trust or sec 8 company)...is charitable and income claimed as exempt is from property held for charitable purpose..
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