#section 11
Log in to FollowIncome 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
Income Tax
Technical Delay in Form 10B Filing Not a Ground to Deny Tax Exemption: Madras HC
Income Tax
Income Tax
Failure to attach audited accounts with Form 10B: ITAT Allows Exemption Claim
Income Tax
Income Tax
Capital profit from sale of Fixed Assets to be routed through P&L rather than directly taken to reserves
Income Tax
Income Tax
Audit Alone Not Enough for Section 11 Claim – ITAT Restores Matter for Evidence Verification
Income Tax
Income Tax
Section 12AB Registration Cannot Be Denied for Non-Commencement of Activities: ITAT Chennai
Income Tax
Income Tax
ITAT Pune Allowed Exemption Despite Delay in Form 10/10B Filing
Income Tax
Income Tax
Charitable Status Reconsideration Ordered as Fee-Based Activities Alone Not Grounds for 12AB Rejection
Income Tax
Income Tax
ITAT Allows Full Salary Deduction Due to Acceptance of 75% Expenditure by Authorities
Income Tax
Income Tax
Skill Development = “Education” – ITAT Allows Sec 11 Exemption to Charitable Trust
Income Tax
Income Tax
ITAT Disallows Double Exemption & Unutilised Accumulation u/s 11; Revenue Appeal Allowed
Goods and Services Tax
Goods and Services Tax
No Interest on Reversed ITC If Credit Not Utilised: Orissa HC Clarifies Section 50
Income Tax
Income Tax
ITAT Mumbai: Section 11(5) Shortfall from Earlier Years Cannot Be Taxed; Only Current Year Violation Taxable
Income Tax
Income Tax
ITAT Pune: Interest on Bank Deposits Not Covered by Mutuality; Only Proportionate Expenses Allowed
Income Tax
Income Tax
