ACCOUNTING & TAXATION Tax on Capital gain on sale of Assets by Charitable Trust/NGO BACKGROUND 01 The definition of income under section 2(24) includes Capital Gains and therefore for the purposes of section 11, Capital Gains should form part of the income and consequently it should be treated at par with any other income under … Read More →
Formation of an NGO as a Section 25 Company Statutory Provisions: NGOs can be registered as limited companies under section 25 of the Companies Act, 1956 for carrying out charitable and promotional activities. A company registered under the Companies Act, 1956 (the Act) with liability of its members limited by guarantee and the one licensed … Read More →