#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
Taxation of Trust
Income Tax
Income Tax
Denial of deduction u/s 11 for non-filing of Form No. 10B is unjustifiable
Income Tax
Income Tax
Character of charitable purpose gets lost when receipts from business activity is more than 20%
Income Tax
Income Tax
Fine, Lab Fee, Founder Day/Photograph Charges are Incidental income to Running of Educational Institution
Income Tax
Income Tax
15% accumulation on Profit & gains from incidental business of charitable trust allowed
Income Tax
Income Tax
Corpus specific voluntary donations not taxable in case of unregistered trust
Income Tax
Income Tax
Exemption u/s 11 duly denied for non-submission/ late submission of Form No. 10B
Income Tax
Income Tax
Exemption u/s 11 available as there is no profit motive in activity carried out by society
Income Tax
Income Tax
Applicability of proviso to section 2(15) should be based only on facts & circumstances of each case
Income Tax
Income Tax
Exemption u/s 11 doubtful as condition of advancement of any other object of general public utility not satisfied
Income Tax
Income Tax
Section 11 exemption cannot be denied to trust if Audit Report filed before completion of assessment
Income Tax
Income Tax
Proposed amendments in section 11 of Income Tax Act in Finance Bill 2023 – Suggestions
Income Tax
Income Tax
Furnishing of Form No. 10B before due date prescribed in section 44AB mandatory w.e.f. 1.4.2020
Income Tax
Income Tax
