Tax Exemption for Donation Under Section 80G
Introduction
In this article I will be writing about the tax exemption on donations and how to calculate the maximum eligible amount for the tax exemption. I have received many queries from the readers about the limitation of tax exemption on donation, i thought it is worth writing the another article on the same topic. You [...]
Formation and Registration of a Non -Profit organisations in India under Section 25
Section-25 Company
According to section 25(1)(a) and (b) of the Indian Companies Act, 1956, a section-25 company can be established ‘for promoting commerce, art, science, religion, charity or any other useful object’, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to [...]
Whether foreign national can be promoter(s) of section 25 company?
FROM THE PROCEDURE AND LEGAL FORMALITIES LISTED BELOW FOR FORMING SEC. 25 COMPANIES ,YOU FIND THAT THERE IS NO BAR FOR A FOREIGN NATIONAL TO BE A PROMOTER OF SUCH CO.
RBI has clarified that under the Foreign Exchange Management Act, 1999, appointment of a foreign national as a director on the board of directors of [...]
Income Tax Exemption on Donations (NGO) under Section 80g
Introduction
In this blog I will be writing about the Section 80g which presents the laws for tax exemtions on donations and fund spent on the NGOs. You will get the tax exemptions benefits when there is a donation for NGO’s. This law would encourge people to donate more fund for NGO’s and most of the [...]
