Business entity
This query is : Resolved
22 January 2014
Whether section 25 companies and Entity registered u/s 12AA of Income Tax Act are included within the meaning of "Business Entity" as defined in section 65B of Finance Act 1994. For the purpose of applicability of revere charge mechanism u/s 68 (2) of the finance act 1994.
22 January 2014
It is not business entity if entity not engaged in any commercial activity
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So generally charitable institutions reversecharge will not applicable
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So generally charitable institutions reversecharge will not applicable
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