Profitability is not the goal of every business that engages in trade and commerce. Many businesses are primarily concerned with charitable and non-profit goals. Such institutions are acknowledged under Section 8 of Companies Act 2013 and are thus known as Section 8 Companies.
The yearly compliance duties set out in the Companies Act 2013 and the Income Tax Law 1961 are to be performed by every company that is registered as a Section 8 Company.
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