#IncomeTaxAct1961, #Section67A, #shares, #income, #association, #organization, #rules, #sections, #laws Section 67A falls under Chapter VI, which relates to ‘Aggregation of income and set off or carry forward of loss’ As the heading of section 67A itself suggests, it provides the method of computing a member’s share in the income of an AOP or BOI. In the present context, it has to be noted that sections 66 and 67A fall under Chapter VI, the title of which is, ‘Aggregation of

#INCOMETAXACT #SECTION44AA #RULE6F #TRADE #PROFESSIONAL #ASSOCIATION The books of accounts that an assessee is expected to keep for Income Tax are outlined in Section 44AA of the Income Tax Act. Rules 6F and Section 44AA specify the requirements for keeping these books of accounts. According to this provision, Anyone who practices law, Medicine, Engineering, Architecture, Accounting, Technical consulting, Interior design, Who serves as an authorised representative for someone

#rules #conditions #approval #research #association The rule states that: (1) The sole object of the applicant research association shall be to undertake scientific research or research in social science or statistical research, as the case may be. (2) The applicant research association shall carry on the research activity by itself. (3) The research association seeking approval under clause (ii) or clause (iii) of sub-section (1) of section 35 shall maintain books of account

#rules #intimation #form #receipt #association #university The rule states that: (1) An intimation under fifth proviso to sub-section (1) of section 35 by a research association, university, college or other institution referred to in clause (ii) or clause (iii) or the company referred to in clause (iia) of said sub-section (hereinafter referred to as 'the applicant') shall be made in Form No.10A to the Principal Commissioner of Commissioner authorised by the Board. (2) The a

#prohibition #association #partnership #limitation The section states that: (1) No association or partnership consisting of more than such number of persons as may be prescribed shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the association or partnership or by the individual members thereof, unless it is registered as a company under this Act or is formed under any other law for the time being in force: Provided

#companiesact #companylaw #sec215 #bodycorporate #association #inspector Section 215: Firm, body corporate or association not to be appointed as inspector. Quoting the act No firm, body corporate or other association shall be appointed as an inspector. Definations Firm A firm is a for-profit business organization—such as a corporation, limited liability company (LLC), or partnership—that provides professional services. Most firms have just one location. However, a business fi