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 : 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 : ITAT Kolkata held exemption u/s 11 or 10(23C) cannot be denied at 143(1) stage for delayed Form 10B/10BB filing when reports were ...
Income Tax : Understand the taxability, registration, and exemption provisions for charitable and religious trusts under Sections 11–13, incl...
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 : The Tribunal condoned a 60-day delay after accepting explanations relating to migration of the ITAT portal and the death of a fami...
Income Tax : The Tribunal ruled that corpus donations cannot be taxed merely because Section 12AA registration was granted subsequently. Once r...
Income Tax : The Mumbai ITAT held that the appellate authority failed to consider pending writ petitions and interim directions of the Bombay H...
Income Tax : The ITAT Chennai held that exemption under Section 11 cannot be denied merely because Form 10B was not filed along with the return...
Income Tax : Bombay High Court held that delay in filing Form No. 10 for claiming accumulation under Section 11(2) should be condoned where gen...
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...
The ITAT Delhi ruled that a charitable society’s tax exemption cannot be denied if its registration remains valid. The tribunal emphasized the need for consistency, setting aside a demand based on a factual error.
ITAT Jaipur has allowed a charitable society to claim an exemption for accumulated income. The tribunal ruled that parking funds in a scheduled bank at year-end constitutes compliance with tax law, even if converted to fixed deposits later
The Rajasthan High Court quashed an order rejecting a charitable trust’s application to condone a delay in filing an audit report (Form 10B), emphasizing that a taxpayer should not suffer due to a professional’s mistake.
Liquidator vide letter dated 20.11.2021 did not accept the claim principally on the ground of violation of Moratorium. On instructions of the Liquidator, the Corporate Debtor has challenged the order dated 11.10.2021 passed u/s. 7A of the EPF Act before CGIT Ahmedabad in appeal bearing EPF Appeal (CGIT) No.36 of 2021.
The ITAT Bangalore deleted a Rs.23.77 Cr capitation fee addition and restored exemption u/s 11 for Sri Devaraj Urs Educational Trust, ruling that uncorroborated documents and contradictory statements lack evidentiary value.
ITAT Ahmedabad dismisses a trust’s appeal, sustaining a Rs.8.36 lakh tax addition. The trust was ineligible for Section 11 benefits as it lacked Section 12AA registration and served a specific community.
ITAT Ahmedabad held that delay in furnishing Form No. 10B is procedural lapse hence it cannot be sole reason for denial of exemption under section 11 of the Income Tax Act. Accordingly, delay in filing 10B condoned and exemption granted.
NCLAT Delhi held that order rejecting application for intervention under section 65 of the Insolvency and Bankruptcy Code is set aside and intervention petition is revived since application is not filed to derail CIRP. Accordingly, appeal disposed of.
The ITAT Delhi has ruled that a charitable institution’s Section 11 exemption can’t be fully denied for a violation under Section 13. Exemption is restricted only to the extent of the offending amount.
ITAT Delhi dismissed an appeal from a gaushala society, upholding the denial of its income tax exemption due to the lack of mandatory registration under Section 12AA.
