What is the major difference between Trust, Socities and company registered U/S 25 of company act 1956 with income tax point of view?
3 Replies
Ankit
(CA, CS)
(3064 Points)
Replied 13 June 2013
Shivani,
As far as the Income Tax goes, there is no difference between the 3. IT ranks all the NPOs at par. except that in case of section 25 company, MAT provisions apply. However, there would be no effect of MAT since the book profits would be nullified while calculating the Book Profits.
- Ankit
Ankit
(CA, CS)
(3064 Points)
Replied 13 June 2013
I have also sent you a Pvt. Msg. regarding this.....please check tha same
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