Can a Section 25 company be run as a typical trust, i,e.. Sec. 25 companies can receive the anonymous donations from the Donor.
Menu
Can a Sec 25 Company be run as a typical trust
Replies (1)
Hi,
If the Section 25 Company is working within the framework of its licence given by the Central Govt (Regional Director), MOA and AOA and complying with the provisions of the Companies Act and Income Tax Act (for claiming exemption etc.), then I don't think there may be any restriction on receiving anonymous donations from the Donor. Also in the Company, there must some mechanism for recording/accounting for/of such type of donations.
Regards
CS Ashwini Kumar
Recent Topics :
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
Related Topics :
CAclubindia
