Section 12 of Income Tax Act, 1961
Income Tax : Understand the income of trusts or institutions, including registration, exemptions, and FAQs. Learn about Sections 12A, 12AA, and...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Goods and Services Tax : Learn about the tax implications of renting property to government hostels. Get insights from the Telangana AAR ruling and underst...
Income Tax : Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institu...
Custom Duty : This article delves into the flawed interpretation of Rule 27(1) of the SEZ Rules, 2006, and elucidates the intricate legal landsc...
Income Tax : ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the li...
Corporate Law : Held that the proprietorship concern may run on whatever name it has and the same has no legal entity, however, the Proprietor of ...
Corporate Law : Supreme Court held that State Bar Councils (SBCs) cannot charge an enrolment fee or miscellaneous fees above the amount prescribed...
Income Tax : Delhi High Court held that affiliation with and recognition by a regulatory authority are not essential attributes of education un...
Corporate Law : Bombay High Court held that industrial dispute existed when the reference was made by the appropriate Government under section 2-A...
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?
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 furtherance of its main objects which were undisputedly of charitable nature and which was not an activity of trade, commerce or business with main object of earning profit. AO was directed to allow exemption under section 11 and 12 with consequent benefits to assessee.
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?
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 […]
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?
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 and by mean of this article I have tried to demonstrate those errors and also the corrective measures thereof.
The issue under consideration is whether the exemption u/s 11 will be allowed against the interest income, exchange gain, and miscellaneous income to the Confederation of Indian Textile Industry?
whether the Mid Day Meal supply to the poor students of the schools as per the programme of State Government is considered as commercial activity?
NIIT Foundation Vs CIT (ITAT Delhi) Online Coaching considered as Education u/s 2(15) hence eligible for Exemption under section 11/12 The issue under consideration is whether the CIT(A) is correct in holding that the activity carried out by the Appellant is not in the nature of ‘education’ within the meaning of Section 2(15) of the […]
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
