A NGO(TRUST) registered under section 12A, 80G of income tax act and under the provision of FCRA wants to invest in the share of a Pvt Ltd. company out of its Unrestricted fund(Genaral Fund). What will be the implication under the income tax act?
CA. MUKESH KUMAR (CHARTERED ACCOUNTANT) (183 Points)
26 January 2012A NGO(TRUST) registered under section 12A, 80G of income tax act and under the provision of FCRA wants to invest in the share of a Pvt Ltd. company out of its Unrestricted fund(Genaral Fund). What will be the implication under the income tax act?
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 29 January 2012
Dear Mukesh
you are not supposed to invest in private companies, as it leads to cancellation of 12A regn
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