Non-profit merger conditions require compatible registration, transfer of tax obligations, timely regulatory intimation, and merger-date audit. Merger of registered non-profit organisations with the same or similar objects requires compatible registration status, absence of non-appealed ... Summary
Non-profit merger conditions require compatible registration, transfer of tax obligations, timely regulatory intimation, and merger-date audit.
Merger of registered non-profit organisations with the same or similar objects requires compatible registration status, absence of non-appealed outstanding demands, transfer of all assets and liabilities, and no related-person benefit. The merged organisation assumes tax, income-application, investment and additional income-tax obligations of the merging organisation. Proceedings concerning the merging organisation continue against the merged organisation. Intimation in Form No. 112A must be furnished electronically within the prescribed period, and both organisations must obtain an audit of their books as on the merger date.
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