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Why do hospitals are formed as company?
hospitals can be formed as societies? can they apply for 12 a registration..as they help people even though for considering..?if they formed under company do they pay income tax?? please anyone explain this
Replies (7)
Quick Summary
Hospitals are always registered under Societies Registration Act.
But you can see Apollo Pvt Ltd etc..and there so many other
Yes hospitals can be treated as societies registration
Yes hospitals can be formed as company under section 8 of the companies act 2013. there's no such restriction that it can't be formed as a company.
there are number of benefits by forming a company. please refer the bare act of companies for more information.
there are number of benefits by forming a company. please refer the bare act of companies for more information.
Oh thanks..by forming sec 8 companies do they pay income tax??
You can well transform it to a pvt limited company .
if the need arises.
if the need arises.
No need to pay tax. you can get exemption under section 10(23) of income tax act
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