Consequences of not obtaining audit report and non-maintenance of Books of Accounts
Consequences of not obtaining audit report and non-maintenance of Books of Accounts
The Finance Bill, 2026 proposes to insert Section 354A in the Income Tax Act, 2025, clarifying when tax on accreted income under Section 352 will apply in case of NPO mergers
The Finance Bill, 2026 proposes to remove commercial activities by NPOs under the GPU category from the scope of “specified violation” that could lead to cancellation of registr ...
Structural Changes in Taxation of NPOs
The nomination in Form-III shall be verified with the records and returned to employee after retaining a copy for record.
A nomination shall be filled-up in Form-III for Gratuity and submitted in duplicate by the employee to the employer.
Implications of TDS against Grants
Transfer of Shares of a Section 8 Company
Capital Gains for NPOs are also considered part of the Income, subject to 85% application or re-investment of the entire sale proceeds.
With effect from 26-May-2025, the Form FC-3C requires to enclose certain documents after the “Declaration and Undertaking"
