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Charging Interest in Microfinance Doesn’t Kill Charitable Status: ITAT Delhi
Case Law Details
- Case Name
- Humana People to People India Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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Humana People to People India Vs DCIT (ITAT Delhi)
ITAT Delhi Holds Microfinance as Charitable – Charging Interest Doesn’t Kill Charitable Nature – ITAT Backs NGO’s Livelihood Work
Background
Assessee: Humana People to People India (HPPI), a not-for-profit company registered u/s 25 of Companies Act & u/s 12A of the Income Tax Act.
Activities: Education, relief to poor, medical relief, environment & microfinance (since 2007).
AO’s Findings (29.12.2019 u/s 143(3)):
Noted income from commission, processing fee, interest, and microfinance exceeded 20% of total receipts.
Applied...
Author Info
