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Are section 25 companies in India exempt from income tax?

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  Section 25 companies in India, now known as Section 8 companies under the Companies Act, 2013, are nonprofit organizations formed for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, or any other useful object. These companies are registered with the objective of applying their profits, if any, or other income solely for promoting their objectives, and they do not distribute dividends to their members. Under the Income Tax Act, 1961, Section 8 companies (formerly Section 25 companies) are eligible for certain tax exemptions. However, it's important to note that the mere registration as a Section 8 company does not automatically grant complete exemption from income tax. The tax benefits and exemptions available to these companies are subject to meeting specific conditions and compliance requirements. Here are some key points regarding income tax exemptions for Section 8 companies: Registration: Section 8 companies must obtain regis...

What are the property verification methods in Delhi?

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Why do the super rich pay next to no income tax?

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Which states have no income tax?

 As of my knowledge cutoff in September 2021, there are nine U.S. states that do not levy a state income tax on individuals: Alaska Florida Nevada South Dakota Texas Washington Wyoming Tennessee (although it does tax certain types of income, such as interest and dividends) New Hampshire (although it does tax dividends and interest income) It's important to note that while these states do not impose a state income tax, they may have other forms of taxation, such as sales tax or property tax. Additionally, the tax laws and regulations can change over time, so it's always advisable to consult with a tax professional or refer to the latest information from the respective state's tax authorities for the most up-to-date and accurate details.

How do I obtain a lost property document?

If you have lost a property document, such as a title deed, certificate, or any other legal document, here are the general steps you can take to obtain a replacement: File a Police Report: Start by filing a police report about the lost property registration . Visit your local police station and provide them with details of the lost document, including its description, date of loss, and any relevant information. The police report will help establish a record of the lost document and may be required for further proceedings. Contact the Issuing Authority: Identify the authority or organization that originally issued the lost property document. This could be a government agency, a land registry office, a notary public, or any other relevant authority. Contact them and explain the situation, providing details of the lost document and the circumstances surrounding its loss. Gather Supporting Documents: Prepare any supporting documents that can help establish your ownership or connection to t...

When should we file ITR (Income Tax Returns)?

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What is the study to be an income tax officer?

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