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 : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...
Income Tax : Courts held that prior exemption claims under Sections 11 and 12 cannot justify denial of 80G approval. The key takeaway is that b...
Income Tax : The Tribunal ruled that non-filing of Form 10B is a curable defect and cannot justify denial of exemption during processing. Secti...
Income Tax : The law now mandates a single exemption pathway for charitable institutions, ending the flexibility of parallel regimes. The key t...
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...
Custom Duty : Show cause notice dated 06-12-2012 issued by the Additional Director General, DRI, was quashed for lack of jurisdiction in view of...
Income Tax : The Tribunal observed that the trust had eventually filed Form 10 and sought condonation of delay. Since the issue was pending bef...
Income Tax : The ITAT held that exemption under Sections 11 and 12 could not be denied merely due to issues relating to filing of Form No. 10. ...
Income Tax : The ITAT held that exemption under Sections 11 and 12 could not be denied solely due to delayed filing of Form 10B. The matter was...
Income Tax : The ITAT held that registration under Sections 12AA/12AB cannot be cancelled when the trust continues to genuinely carry out its e...
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...
Kerala High Court held that Competition Commission of India [CCI] possess jurisdiction for investigating anti-competitive practices in telecommunication sector inspite of Telecom Regulatory Authority of India Act, 1997 regulations.
Gujarat High Court held that software consultancy services to parent company located outside India provided on principal to principal basis qualifies as export of service and cannot be considered as intermediary service.
ITAT Delhi directed that a trust lacking 12A registration cannot be taxed on gross receipts; only surplus income applied outside charitable purposes is taxable.
The tribunal held that milk procurement and sale by a charitable society were incidental to its primary object of helping small and marginal farmers, and exemption under Section 11 could not be denied.
The Supreme Court held that at the Section 11 stage, courts only check prima facie existence of an arbitration agreement and must leave all deeper objections to the arbitral tribunal.
The issue was whether certain objects benefiting members disqualified charitable registration. The Tribunal ruled that dominant charitable objects like education and aid to poor students justified granting registration.
The Supreme Court held that an FIR based on previously closed complaints and filed without mandatory sanction is an abuse of process and must be quashed.
The tribunal held that assessments completed through the DRP mechanism remain subject to the outer time limit prescribed under section 153. The key takeaway is that section 144C does not extend or override statutory limitation periods.
The law now mandates a single exemption pathway for charitable institutions, ending the flexibility of parallel regimes. The key takeaway is that once a regime is chosen, procedural compliance becomes binding and decisive.
The Tribunal held that limitation under Section 153 overrides the DRP timeline under Section 144C. As the assessment was completed beyond the statutory outer limit, it was quashed as invalid.
