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...
ITAT Chandigarh held that surplus funds of a charitable institution are being held in a fiduciary capacity hence can never be used for any other purpose except for charitable activity. Accordingly, matter remanded back to AO for fresh adjudication.
ITAT Pune rules unregistered trusts are taxed only on net income, not gross, even with ITR filing errors, emphasizing substantive justice.
Pune ITAT rules Section 11(3) amendment on accumulated income is prospective, allowing a 6th year for utilization for past accumulations.
ITAT Ahmedabad rules Bhakt Samaj Vikas Education Trust eligible for Section 11 exemption despite delayed Form 10B, citing procedural default precedents
ITAT Pune held that adjustment under section 11(3) of the Income Tax Act as deemed income cannot be sustained as accumulated surplus funds are utilized within stipulated time period and the amendment to the provisions of section 11(3) are held to be prospective in nature.
ITAT Pune clarifies retrospective applicability of 12A registration and condones delayed Form 10B filing for charitable trusts, granting Section 11 exemption.
ITAT Cochin allows Section 11 exemption for Sree Narayana Dharma Paripalana Youvajana Samithi’s Kuri business income, citing prior precedents.
The ITAT Surat has ruled that Section 11 & 12 exemptions cannot be denied solely due to a trust’s delayed registration, remitting Koteshwar Mahadev Public Trust’s case for fresh assessment.
ITAT Mumbai grants Goregaon Education Society tax exemption under Section 11, ruling that belated filing of Forms 9A and 10 is permissible if done before assessment, citing binding CBDT circulars.
CESTAT Delhi held that goods imported by fictious firms using fraudulently obtained IEC are liable for confiscation even if the said goods are not prohibited or restricted as per foreign trade policy. Accordingly, appeal of the assessee dismissed.
