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 claim of exemption under section 11 could not be denied to assessee society on the ground that the audit report was not filed online along with the return as the requirement of law that the assessee shall have its account audited, had been complied with within the time prescribed by the statute.
Analysis of the Income Tax Exemptions available to certain Educational Institutions under Section 10(23C) of the Income Tax Act, 1961 and comparison of the same with exemption available under Section 11. Background: Section 11 is a popular section for claiming exemption from income tax among the non-government charitable trusts and institutions. Most of the charitable […]
Draconian Misinterpretation of Sec. 12A(1)(ba) of the Income Tax Act, 1961 by CPC (Income Tax Centralized Processing Center) shall lead to Huge Tax Demands The Finance Act, 2017 has inserted a new provision sec. 12A(1)(ba) w.e.f. 01/04/2018 (applicable from A.Y. 2018-19 and onwards as follows: “Conditions for applicability of sections 11 and 12. 12A. (1) The provisions of section […]
In order to carry out the charitable activities, the Chairman of the society needs accommodation otherwise he would have to be put in rented accommodation and hence the same eligible for benefit of section 11 and 12.
Where assessee-school had provided transport facility by charging separate fee, the transportation activity being incidental to achieve the main object of the assessee-trust, i.e., providing education could not be considered as business activity, so as to deny exemption under section 11 because the transport facility was not provided to outsiders and was confined only to the students and staff of the assessee.
ARE INCOME TAX AUTHORITIES REALLY CHARITABLE WHEN IT COMES TO CHARITABLE TRUSTS? CHARITABLE TRUSTS: INCOME TAX PERSPECTIVE ‘Charity begins at home but should not end there.’ –Francis Bacon The essence of the above quote has been fully captured in the definition of the expression “charitable purpose” as envisaged in the Income Tax Act, 1961. Under […]
M/s. Escorts Cardiac Disease Hospital Society Vs ITO (ITAT Delhi) Assessee is not running any hospital towards which this expense has been incurred. The assessee just conducted a seminar for the benefit of its parent body i.e. Escorts Hospital, which is a private company. The expense has been incurred outside India and therefore, it is a […]
Article discusses the concept of Charitable/Religious Trusts and various tax benefits which the govt. has provided them. 1. What is Charitable/Religious Trust? 2. How Charitable/Religious Trust being created?
M/s. MAJ Hospital Edappally Vs DCIT (ITAT Cochin) Assessee is entitled to the exemption u/s 11 of the income derived from an activity incidental to the achievement of the objects of the trust. For these reasons, we hold that the assessee’s activities of running the hospital and the nursing school are intricately connected and dependent […]
Delhi Public School Ghaziabad Vs ACIT (ITAT Delhi) The assessee did not provide transport facility to the outsiders and was providing the same only to the students and the staff working for the society. Since transport facility was incidental to achieve the object of providing education, i.e., the object of the society, therefore, the transport […]
