A NGO(TRUST) registered under section 12A, 80G of income tax act and under the provision of FCRA wants to invest in the share of a Pvt Ltd. company out of its Unrestricted fund(Genaral Fund). What will be the implication under the income tax act?
1 Replies
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 29 January 2012
Dear Mukesh
you are not supposed to invest in private companies, as it leads to cancellation of 12A regn
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