#section 11
Log in to FollowIncome 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
Income Tax
Trust Entitled to Sec. 11-12 Exemption If 12A Registration Granted During Pending Assessment
Income Tax
Income Tax
Section 11 Exemption Allowed on Kuri Business Profits Applied for Trust Objects
Income Tax
Income Tax
ITAT Condoned Delay as Similar Appeals for Other Years Were Allowed
Income Tax
Income Tax
ITAT Allows Charity Exemption Despite Late Form Filings
Custom Duty
Custom Duty
Import of goods based on fraudulently obtained IEC are liable for confiscation
Income Tax
Income Tax
Filing Form 10B After Due Date Doesn’t Bar Sections 11 & 12 Exemption: ITAT Kolkata
Income Tax
Income Tax
Textbook Sales Surplus Qualifies for Section 11 Exemption: ITAT Delhi
Income Tax
Income Tax
Delay of more than 5 years in filing of appeal condoned as genuine reason shown
Income Tax
Income Tax
Delay in Filing Form 10B Won’t Deny Sec. 11 Exemption: Gujarat HC
Income Tax
Income Tax
Rejection of registration u/s. 12A(1)(ac)(iii) without appropriate verifying cannot be sustained
Company Law
Company Law
Delay in filing Restoration Application in Contempt Proceedings condoned by NCLAT
Income Tax
Income Tax
Exemption u/s. 11 admissible to pending assessments post registration u/s. 12AA
Custom Duty
Custom Duty
Royalty payment not includible in assessable value as not connected with sale condition
Income Tax
Income Tax
