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.
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Church’s Auxiliary For Social Action Vs ACIT (ITAT Delhi) In the case of India Brand Equity Foundation vs. Assistant Commissioner of Income Tax (E), Trust, Ward-II, New Delhi [(2012) 23 com 323 (Del)] it was held that amount spent outside India for participating in a fare held outside India cannot be treated as application of […]
Ahmedabad ITAT dismisses Ambica Trust’s appeal as it failed to electronically file Form 10B for exemptions under sections 11 and 12 of the Income Tax Act.
The assessee received intimation under section 143(1) of the Act from CPC Bengaluru and in the said intimation, certain adjustments were made as regards deduction claimed under section 11(2) of the Act, which according to the assessee have been incorrectly disallowed since assessee case is directly supported by the decision of the Calcutta High Court in the case of Natwarlal Chaudhry Charitable Trust 189 ITR 656 (Cal).
Section 11 of Income Tax Act,1961 provides exemptions for Income earned from property held under charitable trusts / societies for the activities carried out for charitable or religious purposes subject to certain terms and conditions.
ITAT Held that at the stage of granting registration u/s. 12AA of the Act, authority cannot examine whether the conditions for availing exemptions under Section 11 of the Act are fulfilled or not.
Association of Indian Forging Industry Vs ITO (ITAT Pune) Association of Indian Forging Industry (hereinafter referred to as appellant) is a not-for-profit company incorporated u/s 25 of the Companies Act, 1956 and is also registered u/s 12A of the I.T. Act 1961, therefore eligible for exemption u/s 11 of the Act. As per the memorandum […]
Ensure tax-exempt status for trusts with our guide. Compliance with Income Tax Act secures exemptions for property-derived income. Explore investments, corpus donations, and more.
DCIT (Exemption) Vs Yug Nirman Yojna Vistar Trust (ITAT Delhi) Facts- The assessee is a trust, registered u/s 12A of Income Tax Act. Perusal of assessment order dated 29.12.2016 passed by the Assessing Officer u/s 143(3) of Income Tax Act; shows that registration u/s 12A was granted to the assessee by order dated 01.05.2009 of […]
When the assessee’s main dominant and prime objective was to promote the sports was not desire to earn profits but, object of promoting sports for Nation, it was clearly a charitable purpose. Assessee was entitled for exemption under section 11.
Held that imparting of ‘education’ in the field of architecture is covered within the provisions of section 2(15) of the Act and hence eligible for exemption under section 11 of the Income Tax Act
