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Income Tax - Budget 2021 – Rationalisation of the provision of Charitable Trust and Institutions to eliminate possibility of double deduction while calculating application or accumulation Exemption to funds, institutions, trusts etc. carrying out religious or charitable activities is provided under clause (23C) of section 10 of the Act and secti...
Read MoreIncome Tax - Amendment vides Finance Act 2020: Whether provisions of Section 11 and Section 12 of Income Tax Act, 1961 (Act) shall apply under certain conditions? The post Finance Act 2020 – Applicability of Section 11 and Section 12 of Income Tax Act, 1961 (Act): Case 1: Where approval under Section 10(23C) or Section 10(46) exist Section [&hel...
Read MoreIncome Tax - Very often we get involve in rendering of professional services to charitable and religious organization commonly called as NGO, NPO etc. These services include Auditing, Accounting, Taxation, consultancy, foreign transaction related issues etc. In this regard as far as taxation services are concerned some common errors frequently happen ...
Read MoreIncome Tax - Article deals with Section 12 of the CGST Act, 2017 - Time of supply of goods, Section 13 of the CGST Act, 2017 - Time of supply of services, Section 14 of the CGST Act, 2017 - Change in rate of tax in respect of supply of goods or services and Section 148: Special procedure for certain processes...
Read MoreIncome Tax - Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education, medical relief, preservation of environment/ monuments , advancement of objects of general public utility, religious purpose, etc. There taxation has always been a point of concern. The entire income of such ...
Read MoreWorld Institution Development Programme Vs ITO (ITAT Delhi) - World Institution Development Programme Vs ITO (ITAT Delhi) Developing Study Material Qualifies as educational Activity which qualifies as a charitable purpose within the meaning of section 2(15) of the Act and eligible for exemption under section 11 and 12 of the Act. Admittedly, the assessee is ...
Read MorePCIT (Exemptions) Vs Surat Urban Development Authority (SUDA) (Gujarat High Court) - The issue under consideration the activity of preparation of development plans and to execute works in connection with supply of water, disposal of sewerage and provisions of other services is considered as “charitable activities” and eligible for exemption u/s 11?...
Read MoreGnyan Dham Vapi Charitable Trust Vs DCIT Exemptions (ITAT Ahmedabad) - The issue under consideration is whether where a trust has incurred shortfall due to its excess spending in a particular year, such deficit or shortfall allowed to be c/f in full for set off against the incomes in subsequent years under s.11(1)(a) and Section 11(1)(b) of the Act?...
Read MoreITO (E) Vs Association of Corporation & Apex Societies of Handlooms (ITAT Delhi) - The issue under consideration is whether the activities involved towards promotion of handloom sector is eligible for exemption under section 11 and 12 of Income Tax Act?...
Read MoreDCIT Vs. Association of State Road Transport Undertaking (ITAT Delhi) - Since assessee association was providing laboratory test services and consultancy services in accordance with its charitable objects, therefore, activities could not be held to be rendered in relation to any trade, commerce or business as such activities were undertaken by assessee association in f...
Read MoreWorld Institution Development Programme Vs ITO (ITAT Delhi) -
PCIT (Exemptions) Vs Surat Urban Development Authority (SUDA) (Gujarat High Court) -
Gnyan Dham Vapi Charitable Trust Vs DCIT Exemptions (ITAT Ahmedabad) -
ITO (E) Vs Association of Corporation & Apex Societies of Handlooms (ITAT Delhi) -
DCIT Vs. Association of State Road Transport Undertaking (ITAT Delhi) -
DCIT (E) Vs Lotus Education Society (ITAT Jaipur) -
Confederation of Indian Textile Industry Vs ITO (ITAT Mumbai) -
