Friday 6 May 2016

What is Section 25 company ?

 Meaning of Section 25 company



A “Section 25” company is registered under Section 25 of the Companies Act, 1956. This section provides an alternative to those

who want to promote charity without creating a Trust or a Society for the purpose. It allows the formation of a company, which will

exist as a legal entity in its own right, separate from the person promoting it. The crucial bit, however, is that any company under

this section must necessarily re­invest any and all income towards promoting the said object or charity. In essence, unlike a regular

company, where owners and shareholders can make profits or receive dividends, no money gets out of a Section 25 company.

A Section 25 company is often preferred because it is easier to start — being exempt from statutory requirements of minimum paid-
up capital. They are much easier to run than Trusts and Societies, as board meetings require a smaller quorum and requirements

for calling such meetings are less rigid. It is easier to increase the number of directors, it is easier for people donating money to join

or leave or transfer shares to others, and such a company is obliged to fulfill far less stringent book­keeping and auditing

requirements as against a regular company. Lastly, a Section 25 company enjoys significant tax benefits. Depending on how it is

registered under the Income­Tax Act, companies could benefit from income­tax exemptions, or from the provision wherein people

donating money to these companies receive income deductions in their income­tax liability. Such companies are also exempt from

stamp duty payments. Section 25 is preferred by several businessmen because they are conversant with the company structure,

while benefits from several exemptions make it easy for philanthropy.

Important Dates in Indian History


BC
3000-1500 Indus Valley Civilisation
576 Birth of Gautam Buddha
527 Birth of Mahavir
327-326 Alexander’s invasion of India. It opened a land route between India and Europe
313 Accession of Chandragupta Maurya according to Jain traditions
305 Defeat of Seleucus at the hands of Chandragupta Maurya
273-232 Ashoka’s reign
261 Conquest of Kalinga
145-101 Region of Elara, the Chola King of Sri Lanka
58 Beginning of Vikrami era
AD
78 Beginning of Saka era
120 Accession of Kanishka
320 Commencement of Gupta era. the golden age of Hindu India
380 Accession of Vikramaditya
405-411 Visit of Chinese traveller Fa-hien
415 Accession of Kumara Gupta I
455 Accession of Skando Gupta
606-647 Harshavardhan’s reign
712 First invasion in Sind by Arabs
836 Accession of King Bhoja of Kannauj
985 Accession of Rajaraja,the Chola ruler
998 Accession of Sultan Mahmud
1001 First invasion of India by Mahmud Chazni who defeated jaipal, ruler of Punjab
1025 Destruction of Somnath Temple by Mahmud Ghzni
1191 First Battle of Tarain
1192 Second Battle of Tarain
1206 Accession of Qutab-ud-din Aibak to the throne of Delhi
1210 Death of Qutub-ud-din Aibak
1221 Changes Khan invaded India (Mongol invasion)
1236 Accession of Razia Sultan to the throne of Delhi
1240 Razia Sultan dies
1296 Accession of Ala–ud-din Khilji
1316 Ala-ud-din Khilji dies
1325 Accession of Muhammad-bin Tughlaq
1327 Shifting of Capital from Delhi to Daulatabad to Deccan by the Tughlaqs
1336 Foundation of Vijayanagar empire in the South
1351 Accession of Feroze Shah
1398 Invasion of India by Timur Lang
1469 Birth of Gurunanak
1494 Accession of Babar in Farghana
1497-98 First voyage of Vasco da Gama to India( discovery of sea route to India via the Cape of Good Hope
1526 First Battle of Panipat, Babar defeated Ibrahim Lodhi; Foundation of Mughal rule by Babar
1527 Battle of Khanwa’Babar defeated Rana Sanga
1530 Death of Babar and accession of Humayun
1539 Sher Shah Suri defeated Humayan and became India’s emperor
1540 Battle of Kannauj
1555 Humayan recaptured the throne of Delhi
1556 Second Battle of Panipat
1565 Battle of Talikota
1576 Battle of Haldighati; Rana Pratap defeated by Akbar
1582 Din-e-Illahi founded by Akbar
1597 Death of Rana Pratap
1600 East India Company established
1605 Death of Akbar and accession of Jehangir
1606 Execution of Guru Arjun Dev
1611 Jehangir marries Nur jahan.
1616 Sir Thomas Roe visits Jehangir
1627 Birth of Shivaji and death of Jehangir
1628 Shahjahan becomes emperor of India
1631 Death of Mumtaj Mahal
1634 The British permitted to trade in india in Bengal
1659 Accession of Aurangzeb, Shahjahan imprisoned
1665 Shivaji imprisoned by Aurangzeb
1666 Death of Shahjahan
1675 Execution of Teg Bahadur,the ninth Guru of Sikhs
1680 Death of Shivaji
1707 Death of Aurangzeb
1708 Death of Guru Gobind Singh
1739 Nadir Shah invades India
1757 Battle of Plassey, establishment of Britishn political rule in India at the hands of Lord Clive.
1761 Third Battle of Panipat;Shah Alam II becomes India’s emperor
1764 Battle of Buxar
1765 Clive appointed Company’s Governor in India
1767-69 First Mysore war
1770 The great Bangal Famine
1780 Birth of Maharaja Ranjit Singh
1780-84 Second Mysore War
1784 Pitt’s Omdoa Act
1790-92 Third Mysore War
1793 The Permanent Settlement of Bengal
1799 Fourth Mysore War- Death of Tipu Sultan
1802 Treaty of Bassein
1809 Treaty of Amritsar
1829 Practice of Sati Prohibited
1830 Raja-Ram Mohun Roy, founder of Brahmo Samaj,visits England.
1833 Death of Raja Ram Mohun Roy.
1839 Death of Maharaj Ranjit Singh
1839-42 First Afghan War
1845-46 First Anglo-Sikh War
1852 Second Anglo-Burmese War
1853 First Railway line opened between Bombay and Thane and a Telegraph line in Calcutta
1857 The sepoy Mutiny or First War of Independence
1861 Birth of Rabindranath Tagore
1869 Birth of Mahatma Gandhi
1885 Foundation of Indian National Congress
1889 Birth of Jawaharlal Nehru
1897 Birth of Subhash Chandra Bose
1904 Tibet Expedition
1905 First partition of Bengal under Lord Curzon
1906 Foundation of Muslim League
1911 Delhi Dar
King and Queen visit India;Delhi becomes the capital of India
1916 World War 1 begins
1916 Lucknow Pact signed by Muslim League and Congress
1918 World War 1 ends
1919 Montague-Chelmsfor Reforms introduced,Jallianwala Bagh massacreat Amritsar
1920 Khilafar Movement launched
1927 Boycott of Simon Commission,broadcasting started in India
1928 Death of lal Lajpat Rai ( Sher-e-Punjab)
1929 Lord Orwaom’s Pact, resolution of complete independence passed at Lahore Congress
1930 Civil Disobedience Movement launched;Dandi March by Mahatma Gandhi(April 6, 1970 )
1931 Gandhi-Irwin Pact
1935 Government of India Act enacted
1937 Provincial Autonomy,Congress forms ministers
1939 World War II begins (September i )
1941 Death of Rabindranath Tagore, escape of Subhash Chandra Bose from India
1942 Arrival of Cripps Mission in India, ‘Quit India’ movement launched (Aug.8)
1943-44 Netaji Subhash Chandra Bose forms provincial Azad Hindu Hukumat and Indian National Army, Bengal famine
1945 Trial of Indian National Army at Red Fort;Shimla Conference World War II ends
1946 British Cabinet Mission visits India; Interim Government formed at the Centre,
1947 Division of India; India and Pakistan form separate independent dominions
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