The Government of India through its flagship "Startup India Initiative" is encouraging more and more Private Limited Companies and LLPs to get themselves recognised under the scheme that fulfill certain criterias.
All the Trusts or NGOs existing on 1.4.2021 and the New Trusts or NGOs formed on or after 1.4.2021 with a view to avail exemption from payment of Income Tax u/s 11 shall apply in the New Registration Regime of Section 12AB of the Income Tax Act, 1961.
Under section 80G of the Income tax Act, 1961, the contributors or donors make donations to specific Trust or NGO’s or Institutions as approved by the Government, so as the donated part from the income would not be recognized as taxable.
Company is an artificial person created under the Indian Companies’ Act,2013. There are various types of companies which include Private Limited Company, Public Limited Company, One Person Company (OPC) and Section 8 Company i.e. Not for Profit Company.
Digital Signatures are being adopted by various government agencies and now is a statutory requirement in various applications. You need to e-file GST returns/Income Tax/Roc of your customers using Digital Signature Certificates.