Taxability of companies having license u/s 25

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Sourav Sinha (Querist)
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25 August 2013 Sir,
If a company is registered as Pvt. Ltd. and afterwards it obtains a license u/s 25 of the Companies Act, 1956 as to be a charitable and religious company, whether the taxability of such company will be as a 'general company' as usual or as a 'trust'.
Please support the answer with any case decided or provisions under Companies act, 1956 or Income Tax or any Trust Act.

Thanks

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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25 August 2013 Taxability under Income Tax will remain as 'Company' UNLESS you obtain registration u/s 12AA of the Act, in which case it will then be converted into 'Trust'.

Sourav Sinha

Sourav Sinha (Querist)
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25 August 2013 So if the company gets registration u/s 12AA of the Income tax act, it would be no longer company in that case ?

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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25 August 2013 It will remain Company for all purposes including. Only for taxability purpose, it will be taken as Trust.

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