14 July 2009
Proviso to Section 2(15) says that carrying on any activity in the nature of trade, commerce or business shall not be a charitable purpose.
But section 11(4) says that "property held under trust" can even be a business undertaking provided that it must be incidental to the attainment of the objectives of trust as per sec.11(4A)
So, what is the implication of amenmendment in Section 2(15)?
Also, whether any change made in the auditors report Form 10B in connection with new proviso?
14 July 2009
Charitable purpose means withour motive of profit and doing trade, commerce or business with motive of profit is not charitabel purpose. But in case if any trade like selling of religious books at par is trade but there is no profit motive evenif there is profit in it.
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