Exemption to sec. 8 companies
This query is : Resolved
CA UPENDRA
(Querist)
29 October 2016
pls advice whether benefits of exemption u\s 11 & 12 & 80G of IT Act is available to Sec. 8 company ( non profit making CO.) like charitable trust
KAVIRAJA ADDANGADI
(Expert)
30 October 2016
In order to get benefit of exemption they have to make registration income tax commissioner in Form 10A .
sivadas chettoor
(Expert)
25 November 2016
Yes...the benefit of exemption u/s 11 is available so long as the objective of the organisation (be it a trust or sec 8 company)...is charitable and income claimed as exempt is from property held for charitable purpose..
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