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 intervenes in Oxfam India’s tax reassessment case, issuing a stay on proceedings. A comprehensive analysis of the Delhi HC order and its implications.
CESTAT Ahmedabad it is settled legal position that cenvat credit on the sugar cess paid as part of CVD in respect of import of raw sugar is duly available.
Jharkhand High Court concludes labor cess doesn’t apply to material supply and consultancy charges. Get a comprehensive analysis of the judgment here.
Analysis of JCIT vs Gujarat Energy Development Agency verdict by ITAT Ahmedabad. Understanding implications of non-filing audit reports on Section 11 deductions.
ITAT Kolkata held that gross receipts cannot be taxed entirely, estimated expenditure incurred by the society for earning this income needs to be allowed even if the society is not registered under section 12A of the Income Tax Act.
CESTAT Ahmedabad held that despite of various opportunities as department failed to furnish basic documents like SCN and RUDs including relevant correspondence, the value declared by the imports/ respondents is upheld.
ITAT Mumbai held that AO is bound to dispose of the objections filed by the assessee against reopening and give at least four weeks time, from the date of rejection of objection, to assessee to seek any legal remedy. In absence of the same, reopening of assessment is not legally sustainable.
ITAT Chandigarh held that CIT(E) cannot grant registration to an institution as he deems fit. Here, CIT(E) has granted registration to the assessee as Charitable Institution involved in “advancement of other objects of public utility” instead of Charitable Institution engaged in education activity as applied by the assessee.
ITAT Mumbai’s order on Ayyappa Seva Samgham Bombay Vs CIT(A). Insight into the ruling on Corpus Donations, depreciation claims, & Section 11 of the Act.
NCLAT Delhi held that reliefs prayed for in the Company Petition against ‘Oppression and Mismanagement’ could only be adjudicated by a Court/Tribunal of competent jurisdiction, which in the present case is the NCLT/NCLAT under Sections 241 & 242 of the Act.
