we are running charitable trust..
3 years ago
sir
we are running charitable trust..and we got more franchise in my state with franchisee fee ( purpose in education training) but now franchisee asking reten franchisee fee....and fail criminal case... we have a question? this is a charitable trust so how to reten donation or franchasee fee? this type case available in court Order..
please advise
A.Anh agreement executed
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hai,
Public charitable trust is exempted from income tax. Section 11, Section 12, and Section 13 of The Income Tax Act talk about tax exemptions given to public charitable trusts. Section 80G deals with privileges given to donors of public charitable trusts. Please consult a lawyer to check if you have the previliages under the section.If you find this helpful, please rate us.
Public charitable trust is exempted from income tax. Section 11, Section 12, and Section 13 of The Income Tax Act talk about tax exemptions given to public charitable trusts. Section 80G deals with privileges given to donors of public charitable trusts. Please consult a lawyer to check if you have the previliages under the section.If you find this helpful, please rate us.
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A.Hai,
Under Section 3 of The Indian Trusts Act, 1882, ‘A “trust” is an obligation annexed to the ownership of the property, and arising out of confidence reposed in and accepted by the owner, or declared and accepted by him, for the behalf of another, or of another and the owner.’ A public charitable trust organization can be formed by registering as a trust by executing a trust deed or as a society under the Registrar of Societies. Also, a private non-profit company can be formed under Section 8 of The Companies Act, 2013. A Section 8 company is parallel to that of a Section 25 company under the old Companies Act, 1956. If you find this helpful, please rate us
Under Section 3 of The Indian Trusts Act, 1882, ‘A “trust” is an obligation annexed to the ownership of the property, and arising out of confidence reposed in and accepted by the owner, or declared and accepted by him, for the behalf of another, or of another and the owner.’ A public charitable trust organization can be formed by registering as a trust by executing a trust deed or as a society under the Registrar of Societies. Also, a private non-profit company can be formed under Section 8 of The Companies Act, 2013. A Section 8 company is parallel to that of a Section 25 company under the old Companies Act, 1956. If you find this helpful, please rate us
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