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section 11

Income received from a charitable/religious trust will be tax-exempt under Section 11, provided that the activity being performed is incidental to the attainment of objectives set by the trust/institution, and separate books of account are maintained by the particular trust/institution pertaining to the business. In this article, we look at some of the major exemptions provided under Section 11 of the Income Tax Act.

Latest Articles

Exemption claimed under wrong section cannot be denied

Income Tax : Learn why exemptions claimed under the wrong section in Income Tax Returns can be rectified under Section 154. Explore legal prece...

April 8, 2024 1731 Views 0 comment Print

Amendments Effective From 1st April, 2024 For Charitable Trusts

Income Tax : Understand the latest amendments impacting Charitable Trusts from April 1, 2024. Learn about amendments in Section 11 of the Incom...

April 6, 2024 21393 Views 2 comments Print

Understanding Section 43B(h) | Impact on MSME Payments

Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...

April 2, 2024 11148 Views 3 comments Print

Assessment of Charitable and Religious Trusts and Institutions

Income Tax : Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institu...

February 2, 2024 8598 Views 0 comment Print

Understanding Trademark Objection: Section 11 Refusal Grounds

Corporate Law : Explore Section 11 of Trademarks Act, 1999, detailing grounds for refusal. Learn how to avoid trademark objection and enhance regi...

January 23, 2024 2445 Views 0 comment Print

Latest News

Tax Exemption Status of BCCI: Recent Developments & Future Prospects

Income Tax : Dive into Lok Sabha Unstarred Question No. 2302 to understand the tax exemption status of BCCI, potential changes, and insights in...

December 19, 2023 858 Views 0 comment Print

Application of funds by trust can be made only on actual payment basis

CA, CS, CMA : ICAI clarified that application of funds can only be made on actual payment basis in case of charitable trusts. This amendment is ...

September 14, 2022 30675 Views 1 comment Print

How to file Form 10BD – Part-B Details of donors & donation

Income Tax : These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors an...

April 27, 2022 78888 Views 25 comments Print

Improper drastic changes in Income tax provisions relating to Trusts/NGOs

Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...

April 30, 2021 9186 Views 1 comment Print

Representation to FM on Concerns of Chartered Accountants

CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...

January 30, 2021 2814 Views 0 comment Print

Latest Judiciary

Temporary donations to other charitable entities did not violate spirit of Section 11

Income Tax : Delhi High Court allows exemptions on temporary donations by one charitable trust to another. Understand the implications and full...

June 13, 2024 369 Views 0 comment Print

IBC not excludes Court Jurisdiction to entertain A&C Act Section 11 Applications: Delhi HC

Corporate Law : Delhi High Court's judgment clarifies that IBC proceedings don't preclude court jurisdiction for Section 11 applications under the...

May 27, 2024 132 Views 0 comment Print

Delhi HC Directs Central Registrar to Appoint Arbitrator in Handloom Dispute

Corporate Law : Delhi HC mandates Central Registrar to appoint an arbitrator under Section 84 of the Multi-State Cooperative Societies Act in a di...

May 26, 2024 120 Views 0 comment Print

Depreciation Claim on Fixed Assets by Trust – ITAT Directs reconsideration

Income Tax : Discover ITAT Bangalore's directive on re-evaluating depreciation disallowance claimed on asset acquisition in the case of ACIT vs...

May 24, 2024 459 Views 0 comment Print

Section 11 Exemption can’t Be denied for Meager Profit from Public Utility Services

Income Tax : ITAT Kolkata rules in favor of Institute of Indian Foundrymen, directing AO to allow tax exemption under Section 11 of the Income ...

May 22, 2024 225 Views 0 comment Print

Latest Notifications

Section 11-CBDT notifies online forms for accumulation of income by a trust

Income Tax : NOTIFICATION NO. 03/2016 Exercise of option etc under section 11. (1) The option to be exercised in accordance with the provisions...

January 14, 2016 8668 Views 0 comment Print

CBDT guidelines for NGOs seeking exemption U/s. 11 for providing relief to earthquake hit people in Nepal- Part III

Income Tax : Part III of the Standard Operating Procedure (SOP) (Part I - 08.07.2015) for making application for claim of tax exemption u/s 11(...

July 27, 2015 570 Views 0 comment Print

CBDT guidelines for NGOs seeking exemption U/s. 11 for providing relief to earthquake hit people in Nepal- Part I

Income Tax : Many NGOs and Charitable Organizations in India have expressed desire to support relief and rehabilitation work for the benefit of...

July 8, 2015 1504 Views 0 comment Print

Rescission of all previous notifications appointing Director, Software Technology Parks of India as Development Commissioner of IT& ITES SEZs

Corporate Law : Section 11 of the Special Economic Zones Act, 2005 – Development Commissioner – Rescission of all previous notifications appoi...

December 23, 2010 381 Views 0 comment Print

SEBI circular on Quarterly Reporting by Foreign Venture Capital Investors (FVCI)

SEBI : Format for the quarterly report on venture capital activity to be submitted by Foreign Venture Capital Investors has been revised ...

January 12, 2010 1809 Views 0 comment Print

Donation out of accumulated funds u/s. 11(2) are not allowable as application of income

September 12, 2023 1131 Views 0 comment Print

ITAT Delhi held that provisions of section 11(3) states that donations given out of accumulated funds u/s 11(2) of the Income Tax Act of earlier previous years are not allowable as application of income for charitable or religious purposes and the same shall be deemed to be income of the assessee.

Excess application of income of previous years can be set off from subsequent year’s surplus income

September 12, 2023 2340 Views 0 comment Print

Analysis of ITAT Bangalore’s decision in Sindhi Youth Association vs ADIT, focusing on set-off of earlier year’s excess application to subsequent year’s income under Section 11 of the Income Tax Act for Charitable Trusts.

Unstamped Arbitration Agreements Lack Legal Validity and May Be Impounded

September 11, 2023 960 Views 0 comment Print

In present facts of the case, the Hon’ble High Court have given observations on the issue of unstamped arbitration agreement. It has been held that an arbitration agreement, which is unstamped, does not exist and an unstamped contract, containing an arbitration agreement, would not exist as it has no existence in law and it has been observed that such agreement would be impounded under Section 33 of the Stamp Act.

Likelihood of confusion among public essential for refusal of Trademark Registration U/s. 11

September 11, 2023 3645 Views 0 comment Print

The Hon’ble High Court observed that for refusal of Registration under Section 11 of the Trademarks Act, it would have to be shown that the marks themselves are confusingly similar to each other, and that, owing to the similarity in the marks and the goods and services which they cover, there is a likelihood of confusion among the public, or a likelihood of the public believing the existence of an association between the marks.

CESTAT Quashes SCN for Lack of Suppression or Misstatement Allegations

September 11, 2023 378 Views 0 comment Print

A detailed analysis of CESTAT Bangalore’s ruling in favor of Nexteer Automotive India over the Commissioner of Central Excise and Service Tax. Learn why the show-cause notices were quashed.

Incidence of Duty Borne by Appellant, Unjust to Credit Refund to Consumer Welfare Fund: CESTAT

September 9, 2023 270 Views 0 comment Print

Analysis of the CESTAT Chennai order in Axon Drugs (P) Ltd Vs Commissioner of GST & Central Excise case. Discover why directing excise refund to Consumer Welfare Fund was deemed unjust.

Not-for-Profit Companies: Legal Framework

September 6, 2023 1533 Views 0 comment Print

This article delves into the fundamental aspects of not-for-profit companies elucidating their purpose, key features, authorized activities, benefits, and their distinctive role in promoting social welfare. By examining recent legislative developments and exploring the core attributes of not-for-profit companies, this article aims to shed light on their significance in the broader societal context.

Penalty u/s 114 imposable on CHA who abetted or facilitated illegal attempted export of prohibited goods

September 4, 2023 765 Views 0 comment Print

CESTAT Chennai held that penalty u/s 114(i) of the Customs Act, 1962 imposable as CHA has abetted or facilitated, may be deliberate or negligent, an illegal attempted export of prohibited goods i.e. Red Sanders wood pillars and tops.

AO cannot interpolate Salary for extra work on mere presumption of Monthly Payment

September 4, 2023 216 Views 0 comment Print

Assessing Officer’s claims on the irregularity of additional salary payments are unfounded, says ITAT. When payments are made via cheque and duly recorded, there’s no reason to treat them as ‘outside the books.’ The assessee provided evidence that these are year-end calculations, not fictitious transactions. The additional salaries are legitimate and shouldn’t be interpolated for 12 months.

Existence of business exigency needs to be proved for payments in cash to avoid addition u/s 40A(3)

September 1, 2023 861 Views 0 comment Print

ITAT Bangalore remanded the matter back to AO for fresh consideration as assessee didn’t proved existence of business exigency in making payment in cash and AO didn’t carried necessary enquiry before making addition u/s 40A(3) of the Income Tax Act.

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