corporate and professional update may 31, 2016
Professional Update For the Day Direct Tax: CBDT Clarification regarding no cancellation of registration u/s 12AA in certain circumstances: CBDT issues beneficial circular No. 21/2016 dt. 27 May 2016, clarifies that where charitable trust engaged in ‘advancement of object of general public utility’ crosses the threshold of 20% or Rs. 25 lakhs for prescribed commercial …