Income Tax : Section 349 is amended to permit belated return filing by NPOs through a reference to section 263(4). The change applies from AY 2...
Corporate Law : Learn the registration process for NGOs (Trust, Society, Section 8 Company) on the Social Stock Exchange (NSE/BSE), including elig...
Income Tax : Learn the step-by-step process of registering an NGO in India as a Section 8 Company and how to secure 12A and 80G registrations f...
Income Tax : New Income Tax Bill simplifies non-profit organization registration under a consolidated Chapter XVII-B, defining eligibility and ...
Corporate Law : Learn about Trust Registration in India for charitable initiatives. Understand the process, benefits like tax exemptions, and esse...
Fema / RBI : Mumbai BJP Professional Cell has written a letter to Shri Amit Shah Ji and requested to lookint0 Drastic changes made in FCRA and ...
Income Tax : An NGO has urged Finance Minister Pranab Mukherjee to continue tax exemption for them in the proposed Direct Taxes Code in order t...
Finance : Union Finance Minister Shri Pranab Mukherjee held a meeting with different Non Governmental Organizations (NGOs) to get their inpu...
Finance : The government is set to frame new accounting norms for non-governmental organisations (NGOs), as it looks to remove the veil over...
Company Law : The Ministry of Corporate Affairs has established the Investor Education and Protection Fund under Section 205C of the Companies A...
Income Tax : DDIT(E)-II Vs. M/s. Rock Church Ministries (ITAT Hyderabad ) The purpose of section 13(1)(c) is to deprive a religious or charitab...
The anti-corruption wing of Central Bureau of Investigation (CBI) conducted seven raids, including four in Vidarbha, after they arrested a retired income tax officer in Mumbai for his alleged involvement in raising fund for his NGO misusing his official powers while serving as I-T commissioner between 2001 and 2009.
The Central Information Commission feels that details of property belonging to government servants and even judges of the high courts and the Supreme Court are subject to the purview of the Right To Information (RTI) Act but some government departments, including the Income-Tax department, seem to think otherwise.
Adopt an animal by paying for its upkeep at the Nandankanan Zoological park and get relaxation in income tax here. The adopters will get the benefit under Section 80G of the Indian Income Tax Act, zoo director Ajit Patnaik told reporters on Friday at the launch of the programme to boost the park’s conservation programme.
As per the new definition of charitable purpose in Finance Act 2008, advancement of any object of public utility, which was earlier considered to be “charitable purpose,” is now not so if it involves the “carrying on of any activity in the nature of trade, commerce or business or any activity of rendering any service in relation to any trade, commerce or business, for a cess or fee or any other consideration
Public, in general, and the NGOs and professionals, in particular, are hereby informed that this facility has been made mandatory w.e.f. 01.08.2008 to facilitate associations to file their applications for prior permission to accept foreign contribution under the Foreign Contribution (Regulation) Act, 1976, online, on the Ministry of Home Affairs’ website: www.mha.nic. in . This facility of online status enquiry is also available through this website. The above facility aims to provide an efficient, transparent and accountable delivery system, for prompt and responsive service to stakeholders. Further, it will reduce postal and communication delays and shall facilitate online interactions and transactions. This will also substantially curtail paper work and automate work-flow.
Q1 : Whether the Income-tax Act, 1961 is applicable to all the Voluntary Organisations who are engaged in socio-economic development programmes in India ? Please clarify. Ans : The Income Tax Act, 1961, is applicable to Voluntary Organisations which are engaged in public charitable or religious activity. Hence, Voluntary Organisations which carry out socio-development programmes […]
