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Profile photo of MAHARUF BARBHUIYAMAHARUF BARBHUIYA asked 1 year ago

Section 8 Company

MAM,

I HAVE QUERY REGARDING SECTION-8 COMPANY, COMPANY MAIN OBJECT – ACTIVITY IS FOR PROTECTION OF ENVIRONMENT AND ITS SAFEGUARD.

CASE IS: THE COMPANY WILL COLLECT SCRAP FROM SOCIETIES AND HOUSES FOR FREE, WITH ITS OWN COST OF COLLECTI0N, BUT LATER THESE SCRAPS WILL BE SOLD TO THE VENDORS RAISING INVOICES.

MY QUERY: DOES THIS ACTIVITY WILL BE CALCULATED AS BUSINESS TRANSACTION IF THE COMPANY DOES THIS, WILL BE GET INCOME TAX EXEMPTION REGISTRATION (LIKE 80G & 12A) LATER ON WHEN THEY WILL APPLY FOR IT

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Profile photo of CA Rohit KapoorCA Rohit Kapoor replied 1 year ago

Yes, they will apply provided the sale of product is within main object. In case of clarification, please be in touch on 9910765030.