#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
Denial of exemption u/s 11 for non-furnishing of copy of registration u/s 12A unjustified
Income Tax
Income Tax
Embezzlement Loss in Charitable Trust’s Activities allowable
Income Tax
Income Tax
Exemption u/s 11 available against receipt of trust from activities like sale of plots/ flats
Income Tax
Income Tax
Benefit of exemption u/s 11(1)(a) and 11(2) not available to deemed income u/s 11(3)
Income Tax
Income Tax
Foreign travel expenditure incurred for obtaining donations is allowable
Income Tax
Income Tax
Adjustment u/s 143(1)(a) by disallowing exemption u/s 11 without prior intimation is unjustified
Income Tax
Income Tax
Depreciation on asset allowable if acquisition is not claimed as application of income
Income Tax
Income Tax
Remuneration to Full-Time Trustee not violates Section 13 – Rejection of Section 12AB Registration Unsustainable
Income Tax
Income Tax
Benefit of exemption u/s 11 not deniable for delay in furnishing of Form No. 10B
Income Tax
Income Tax
Karnataka HC Suspends Recovery Due to Cryptic Stay Order
Custom Duty
Custom Duty
Demanding duty drawback unsustained as payment for goods exported duly received
Income Tax
Income Tax
Denial of exemption u/s 11 justified as audit report in Form 10B filed beyond specified date
Income Tax
Income Tax
Verified corpus donation not taxable even if received by trust not registered u/s 12AA
Goods and Services Tax
Goods and Services Tax
