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Why do hospitals are formed as company?

zanis 0071 (68 Points)

16 October 2021  
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

 7 Replies

sabyasachi mukherjee (6774 Points)
Replied 16 October 2021

Hospitals are always registered under Societies Registration Act.
1 Like

zanis 0071 (68 Points)
Replied 16 October 2021

But you can see Apollo Pvt Ltd etc..and there so many other

Sourav (Student) (23912 Points)
Replied 16 October 2021

Yes hospitals can be treated as societies registration

Giridhar S Karandikar (Team Lead) (7395 Points)
Replied 17 October 2021

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.

zanis 0071 (68 Points)
Replied 17 October 2021

Oh thanks..by forming sec 8 companies do they pay income tax??

sabyasachi mukherjee (6774 Points)
Replied 17 October 2021

You can well transform it to a pvt limited company .
if the need arises.

Giridhar S Karandikar (Team Lead) (7395 Points)
Replied 17 October 2021

No need to pay tax. you can get exemption under section 10(23) of income tax act

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