22 October 2013
If a company wants to do business of taking money to make members and organizing quiz for the members and pay them for the correct answers.
Along with this, the company pays the members commission for further making members and continue the membership tree?
Is doing this business valid and if it is what should be the objects mentioned in the MOA?
if the co. pays service tax on Rs.100 recived initially from one member and income tax on Rs. 30(after deducting Rs. 50 as prize money and Rs. 20 as commission for making new members) and also pays income tax and s. tax on full rs. 100 received from the new member also,
CAclubindia
