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Reregistration of Charitable Instititutions from FY 2020-21 onward

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Re-registration u/s 12AB for all Charitable Trusts: – All the charitable trusts, section 8 companies, Societies etc need to register again with the Income Tax Authority within 3 months from 1st October 2020. All such existing charitable trusts/institutions to apply for re-registration of 12A (w.e.f. 1st October 2020). It has been proposed that all existing …

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Taxation of Partnerships

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Partnership is the most common form of business organisation in India. Partnership firms are governed by the provisions of the Indian Partnership Act, 1932. The Act lays down the rules relating to formation of partnership, the rights and duties of partners and dissolution of partnership. It defines partnership as a “relationship between persons who have …

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