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 Tribunal found that the authority misapplied the law by relying on provisions relating to donor deductions rather than approval conditions for institutions. Since the trust fulfilled statutory requirements, the rejection of approval was set aside.
Karnataka High Court held that the Income tax returns, assessment particulars and related financial details do constitute “personal information” within the meaning of Section 8(1)(j) of the Right to Information Act, 2005.
The tribunal held that exemption for a statutory housing authority depends on whether housing units were sold above cost. The case was remanded to examine if charges exceeded cost plus nominal mark-up.
The Court held that rejection of condonation for a 50-day delay in filing Form 10B was improper when genuine hardship was demonstrated. It directed authorities to treat the audit report as filed within time and process the return accordingly.
The Tribunal ruled that exemption under Sections 11 and 12 cannot be denied by aggregating separate shareholdings to invoke Section 13(2)(e). It held that no office bearer individually held substantial interest, making the addition unsustainable.
ITAT Pune held that time limit of six months for filing an application u/s. 80G(5) of the Income Tax Act applies only to trusts which have not started charitable activities and not to trust which has already started charitable activities before obtaining Provisional registration. Accordingly, application held to be valid and maintainable.
The ITAT held that Section 43B applies even if interest is capitalised to work-in-progress instead of claimed as revenue expenditure. The Assessing Officer was justified in reducing WIP for unpaid interest to a Scheduled Bank.
The High Court dismissed Revenue appeals after holding that the assessee’s activities were charitable in nature, making it eligible for exemption under Section 11. The ruling followed the Supreme Court’s precedent and settled multiple connected tax issues.
ITAT Hyderabad held only ₹1.24 crore accumulation from A.Y. 1994-95 survives for possible Section 11(3) taxation; earlier years’ accumulations were non-existent, and matter restored to CIT(A) for limited verification.
ITAT Lucknow held that exemption under Section 10(23C)(iiiad) cannot be denied merely due to incorrect section selection in the ITR. The matter was remanded to the AO to examine eligibility on merits after proper hearing.
