Section 25 Company India

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Section 25 company india. B intends to apply its profits if any or other income in promoting its objects and to prohibit the payment of any dividend to its members the. They have to apply for tax exemption. Section 25 company in india for the promotion of commerce art science sports religion charity or any other discipline section 25 companies prove to be the most reliable strongest organizational structure.
Section 25 companies are those companies which are formed for the sole purpose of promoting commerce art science religion charity or any other useful object and have been granted a license by the central government recognizing them as such. The power under section 25 has been delegated to the regional directors at mumbai kolkata kanpur and chennai. Hope this is sounding interesting.
Power to dispense with limited in name of charitable or other company. December 11 2015 4 56 52 am. After name approval is received a application has to be made to the registrar of companies roc in form 24a along with relevant documents for getting license for removal of work private limited or limited as the case may be and for registration of company as section 25 company.
Accordingly the application for grant of permission under the section shall be made to the concerned regional director in conformity with the procedure laid down in the companies regulations. Section 25 in the companies act 1956. Indian companies are required to use the term limited or private limited as the case may be in their names as required by section 13.
This section provides an alternative to those who want to promote charity without creating a trust or a society for the purpose. A section 25 company is registered under section 25 of the companies act 1956. Section 25 companies are formed with the intention of promoting such activities.
A is about to be formed as a limited company for promoting commerce art science religion charity or any other useful object and. Under the companies act act 1956 section 25 company can be defined as a limited company formed for the sole object of promoting commerce art science religion charity or any other useful object and intends to apply its profits if any or other income in promoting its objects and to prohibit the payment of any dividend to its members. Does section 25 company in india exempt from income tax.