Archives June 2021

About PTEC: PTEC means Professional Tax Enrollment Certificate. Professional tax is levied by the State Government as a source of revenue and it’s a Direct Tax. PTEC permits to pay the professional tax of the business entity (Private Ltd, Public Ltd, OPC, etc) and also of the owner or professional (sole proprietor, partner, director, etc). Self-employed persons who […]

Key points: The Finance Act, 2020 came with the change in registration process of charitable and religious organizations and also all the existing trusts or institutions registered under section 12A/12AA need to be re-registered themselves under section 12AB. And section 12A &12AA are omitted. Section 12A(1) speak about the conditions to be fulfilled by any […]