profit entity

The government is planning to permit corporate houses to set up higher educational institutions -- like multi-disciplinary universities and colleges -- by floating a separate not-for-profit entity under Section 25 of the Companies Act 1956. Full Article

As per the changes proposed by the new code, a non-profit organisation will have to pay tax at a rate of 30% as per its net worth when it converts itself into an entity that does not qualify as a non-profit organisation. In fact, tax would be levied even if it fails to transfer upon [...] Full Article