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...
ITAT Mumbai held that documents seized from employees cannot be considered as having any evidentiary value and cannot be considered to have trustworthiness, since no other corroborative material was brought on record to support the veracity of the same. Hence, documents seized from employees cannot be relied upon for denying exemption u/s 11.
ITAT Kolkata held that the Indian Chamber of Commerce (ICC) is entitled to exemption u/s 11 of the Act as ICC is not carrying on any activity of holding meetings, seminars and conferences for business purpose but only in support its main object hence it is not hit by the proviso to Section 2(15) of the Act even post amendments.
Read the detailed analysis of Bar Council of India vs CIT case by Delhi High Court. Learn how the court directed the acceptance of Form 10 after condoning the delay.
Supreme Court observed that there is difference between “law and order” and “public order” and held that breach of law in all cases does not lead to public disorder.
Explore the CESTAT Bangalore case of J K Tyre vs Commissioner regarding the validity of excise duty refund appropriation. Detailed analysis of the order and its implications.
Electricity distribution companies were not entitled to collect gst from their customers and charges for metering equipment, testing fee for meter, labour charges from customers for shifting of meters, charges for bills and application for releasing connection of electricity were all integral part of services of distribution of electricity.
The order passed by CESTAT was without jurisdiction, the Revenue, thus, was right in observing that the refund order sanctioned in favour of the Firm pursuant to the order of CESTAT, was required to be reviewed.
Delhi High Court rules in favor of Canara Bank Relief Welfare Society, allowing the filing of revised Form 10 during reassessment proceedings. Details here.
Bombay High Court quashes reopening proceedings in Shanmukhananda Fine Arts vs Dy. Director of Income Tax, citing income already declared in the ITR. Detailed analysis.
Explore the Shree Swami Samarth Seva Kendra vs ITO case at ITAT Mumbai. Analysis reveals the importance of Form 10 compliance for securing Section 11(2) benefits.
