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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The issue under consideration is whether the Income Tax benefit under section 10 and 11 will be granted on the basis of registration under section 12AA?
Harish Chand Ram Kali Charitable Trust Vs ACIT (ITAT Delhi) The issue under consideration is whether the CIT(A) is correct in concluding that the hostel running activity is a business activity? The assessee society was established with the aim to impart education and other charitable activities covered under section 2(15) of The Income Tax Act. […]
The Charitable institutions play important supplementary role, apart from Govt of India/States social welfare depts., in uplifting the poor from poor economic conditions to and try to shield them from starvation.
Enforceability of Arbitration Clause in an Unstamped Arbitration Agreement Vis-À-Vis Section 9 and Section 11 of the Arbitration and Conciliation Act, 1996; A Conundrum
Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education, medical relief, preservation of environment/ monuments , advancement of objects of general public utility, religious purpose, etc. There taxation has always been a point of concern. The entire income of such trust (be it house property, […]
The Income Tax Act makes a distinction between Trusts for charitable purposes and those for religious purposes, though both are entitled to exemption under section 11 of the Act. The creation of religious charitable trusts is governed by the personal laws of the religion. The administration of these religious trusts can either be left to […]
Once the cancellation of registration had been set aside and registration granted under section 12A had been restored by the Tribunal, CIT(Appeals)’s decision for disallowance of exemption under section 11 became redundant, hence, had to be set aside.
Where the assessee transferred accumulated funds to unregistered trust then it was clear violation of Explanation to section 11(2) and clause (d) in sub-section (3) of section 11 and therefore same cannot be treated as applied for charitable purpose. Amount so transferred was thus liable to addition in the hands of the assessee-trust.
The claim of exemption u/s 11 of the I.T.Act was denied by the Tribunal in assessee’s own case for assessment year 2007-2008 and 2009-2010 (supra). The Tribunal in the above case had held that the assessee’s activities of micro finance was not charitable in nature and was not entitled to the claim of benefit u/s 11 of the I.T.Act.
The issue under consideration is that whether the activities carried out by Surat Urban Development Authority are considered as Charitable Activities and hence entitled to the exemption under section 11 of the Income Tax Act or not?
