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.
Income Tax : The Finance Bill 2025 introduces amendments for trust registration, extending validity to 10 years for certain trusts and clarifyi...
Income Tax : Understand the audit requirements for trusts under Form 10B/10BB, including due dates, filing process, clauses, and key difference...
Income Tax : New Application for Condonation of Delay in Filing Forms 9A, 10, 10B, and 10BB Post 18th November 2024 as per Circular No. 16/2024...
Income Tax : ITAT Delhi upholds CIT(E) order in ITO Vs Mehta Charitable Prajanalaya Trust, disallowing unrelated expenses and clarifying deduct...
Income Tax : AQs on charitable trusts, covering registration under Section 12AB, income tax rules, donation management, audit requirements, and...
Income Tax : Dive into Lok Sabha Unstarred Question No. 2302 to understand the tax exemption status of BCCI, potential changes, and insights in...
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 ...
Income Tax : These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors an...
Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...
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...
Income Tax : ITAT Mumbai restores rejection of Sports Unlimited Foundation's 12AB and 80G registration over foreign expenditure concerns, direc...
Income Tax : The bench stated that Tribunal after concluding that the BCCI's Appeal before it “was not maintainable”, exceeded its jurisdic...
Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Pune rules that the tax department cannot deny exemption under Section 11 for non-filing of the original 12A certificate when...
Income Tax : M.M. Patel Charitable Trust Vs PCIT (Central) (ITAT Pune) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Pune h...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
Income Tax : NOTIFICATION NO. 03/2016 Exercise of option etc under section 11. (1) The option to be exercised in accordance with the provisions...
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(...
Income Tax : Many NGOs and Charitable Organizations in India have expressed desire to support relief and rehabilitation work for the benefit of...
Corporate Law : Section 11 of the Special Economic Zones Act, 2005 – Development Commissioner – Rescission of all previous notifications appoi...
Delhi High Court rules validity of arbitration notice under Section 21 cannot be challenged for wrong address, appoints arbitrator for dispute resolution.
CESTAT rules against imposing penalties on Amglo Resources Pvt Ltd for alleged COO misdeclaration, emphasizing the need for mens rea proof.
Read the full text of the order from ITAT Bangalore regarding denial of exemption under Section 11(1) of the Income Tax Act for expenses incurred on mementos to Presidents and Secretaries of Milk Producers Association.
Kerala High Court allows income tax reassessment based on a revenue audit objection highlighting non-compliance with the Act. This applies to assessments after 01.04.2022, even if the taxpayer previously filed returns and the assessment was completed.
Delhi High Court ruling: NGO retains tax exemptions under Sections 11 & 12 despite donor TDS deduction. Analysis & implications of Aroh Foundation case.
In a setback for St. John The Baptist Church, Kerala High Court refuses to intervene in proceedings initiated under Section 148 of Income Tax Act. Full analysis here.
CESTAT Ahmedabad emphasizes the importance of evidence in rejecting bill of entry values in Deeplalit Enterprise P Ltd Vs C.C.-Ahmedabad case.
ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside.
ITAT Mumbai held that the activity of the trust for publishing advertising in the newspaper is intrinsically linked for newspaper activity falls within the ambit of sub-clause (i) of Subsection 2(15) and conditions imposed in sub-clause (ii) of the proviso has to be fulfilled.
Bombay High Court held that just because modified Clause 96 of the General Conditions of Contract states that the decision given by the Committee shall be final and binding upon the parties, the modified clause 96 constitutes the Arbitration Agreement between the parties
