Section 12A

Is it mandatory to file ITR & audit report of Trust registered u/s 12A/12AA

Income Tax - Is it mandatory to file ITR and audit report of the Trust/ institutes registered under Section 12A/ Section 12AA of Income Tax Act, 1961? For the Trust/ institutes registered u/s 12A/12AA*, Is it mandatory to file ITR and audit report of the Trust/ institutes registered u/s 12A/12AA*? let’s try to find answer step by step […]...

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Form 10A & 10AB | Trust Registration | Section 12A, 80G, 10(23C) & 35(1)

Income Tax - A Brief about Form 10A and 10AB as per new Law on Registration of trust under Section 12A and Section 80G and Approval U/s 10(23C) and Section 35(1) The Finance Act, 2020 has made changes leading to complete overhaul in the registration process of charitable and religious organisations. The procedure for registration of every organisation...

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Recent Income Tax Amendments for Registered/ Approved Charitable / Educational/ Medical Institutions

Income Tax - SECTION 2(15): defines Charitable Purpose significant includes relief of the poor, education, medical relief  and SECTIONS 11, 12, 12A, 12AA,12AB and 13 deal with scheme of tax exemption in respect of income, its application and accumulation of charitable  trusts/ institution subject to  fulfilment of certain conditions....

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Recent changes in procedure for registration of Charitable Trust

Income Tax - Finance Act, 2020 made a paradigm shift in the process of registration of public charitable trust by inserting a new section 12AB. Though the same to be made applicable from 1st June, 2020, the pandemic delayed its applicability and the same was made applicable recently on 1st April, 2021. The notification making the same applicable [&hel...

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Changes in Charitable Trust, NGO, Society or Institutions from 01.04.2021

Income Tax - All Trust, Society, NGO’s Do before 30.06.2021  This article focus on major changes brought in by Finance Act 2020 replace section 12AA into 12AB and consequential change sin Section in section 10(23C) as well as 80G. Due to Covid-19 pandemic CBDT has decided to defer the implementation of new procedure for approval/registration from 1...

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Tax Worth Rs. 249 Crore Recovered from BCCI

Income Tax - As the income of BCCI was entirely exempt from tax under section 12A of the Income Tax Act 1961, the question of disclosing low earnings to avoid paying taxes did not arise. Gross receipt disclosed by BCCI in its tax returns for the assessment years 2007-08 to 2010-11, are Rs. 651.82 crore, Rs. 1,000.40 crore, Rs.1.387.02 crore and Rs. 1,...

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Budget 2010: Empowered Income tax department to cancel any charitable organisation's registration

Income Tax - The Income Tax department has got the power to cancel any charitable organisation's registration that accords it the benefit of tax exemption. The department can annul the registration and the exemption emanating from it if the organisation is found to violate the norms for registration, according to Budget 2010-11....

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Catholic churches worried about impact of direct tax code on them

Income Tax - Certain provisions in the Direct Tax Code applicable to religious and charitable institutions and trusts will pose "serious difficulties" for these organizations, the Catholic Church has said. "The Direct Tax Code as conceived creates serious difficulties for societies, trusts and institutions functioning under Catholic christians commun...

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Collecting fees for training from different organizations is not charitable activity

OMS Power Training & Research Institute Vs CIT (Exemptions) (ITAT Cuttack) - Where assessee-trust was collecting fees from different organizations towards training programmes and it also received rent for letting out its part premises; the CIT was justified in rejecting the assessee s application for grant of registration under section 12AA on the ground that the activities ...

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Voluntary Section 12A registration cancellation application- ITAT explains date of applicability

R.D Tata Trust Vs PCIT (ITAT Mumbai) - R. D Tata Trust Vs PCIT (ITAT Mumbai) We are of the considered view that the impugned order of cancellation of registration granted to the assessee under section 12A must be held to be effective from the date on which the hearing on first show-cause notice was concluded and the show cause notice iss...

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ITAT allows Tata Trust to Surrender 12A Registration wef 20.03.2015

Navajbai Ratan Tata Trust Vs PCIT (ITAT Mumbai) - Navajbai Ratan Tata Trust Vs PCIT (ITAT Mumbai) Mumbai ITAT UNIQUE ORDER  on one  tata trust case where assessee opted out of benefit of sec 12AA to apparently save itself from onerous tax exposure with sec 12AA on its head so in these circumstances it is held that 42. The question then arises as ...

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Object beneficial to a section of public is an object of general public utility

Delhi Police Education Fund Vs CIT Exemption (ITAT Delhi) - Delhi Police Education Fund Vs CIT (ITAT Delhi) Assessee argued that the assessee is involved in promoting the post Higher Secondary Education and fulfils the test of Section 2(15) of the Act, the definition of charitable purpose. Ld. DR argued that the assessee’s activities are limited to the war...

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Trust engaged in ‘object of general public utility’ eligible for Section 12A Registration

CIT Vs Tuticorin Port Trust (Madras High Court) - High Court held that even if the assessee is engaged in the category of activity of 'object of general public utility', they are entitled for registration under Section 12A. Therefore, we are of the considered view that the assessee can claim registration under Section 12A by categorising the activi...

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CBDT notifies New Income Tax Rules & Forms for Trust & NPOs

Notification No. 19/2021-Income Tax/G.S.R. 212(E). - (26/03/2021) - CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. All institutions, funds etc covered under clause (i) and (iv) of first proviso to section 10(23C), fifth proviso to section 35(1), clause (i) and (iv) of first p...

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Time allowed for filing of return of income by Trust claiming exemption

F.No. 173/193/2019-ITA-I - (23/04/2019) - Thus, for a trust registered u/s 12AA of the Act to avail the benefit of exemption u/s 11 shall inter-alia file its return of income within the time allowed u/s 139 of the Act. Accordingly, orders u/s 143(1)(a) in those cases in which demand has been raised on this issue may please be rectified....

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Section 12A’s Popular Posts

Recent Posts in "Section 12A"

Is it mandatory to file ITR & audit report of Trust registered u/s 12A/12AA

Is it mandatory to file ITR and audit report of the Trust/ institutes registered under Section 12A/ Section 12AA of Income Tax Act, 1961? For the Trust/ institutes registered u/s 12A/12AA*, Is it mandatory to file ITR and audit report of the Trust/ institutes registered u/s 12A/12AA*? let’s try to find answer step by step […]...

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Posted Under: Income Tax |

Form 10A & 10AB | Trust Registration | Section 12A, 80G, 10(23C) & 35(1)

A Brief about Form 10A and 10AB as per new Law on Registration of trust under Section 12A and Section 80G and Approval U/s 10(23C) and Section 35(1) The Finance Act, 2020 has made changes leading to complete overhaul in the registration process of charitable and religious organisations. The procedure for registration of every organisation...

Read More
Posted Under: Income Tax |

Recent Income Tax Amendments for Registered/ Approved Charitable / Educational/ Medical Institutions

SECTION 2(15): defines Charitable Purpose significant includes relief of the poor, education, medical relief  and SECTIONS 11, 12, 12A, 12AA,12AB and 13 deal with scheme of tax exemption in respect of income, its application and accumulation of charitable  trusts/ institution subject to  fulfilment of certain conditions....

Read More
Posted Under: Income Tax |

Recent changes in procedure for registration of Charitable Trust

Finance Act, 2020 made a paradigm shift in the process of registration of public charitable trust by inserting a new section 12AB. Though the same to be made applicable from 1st June, 2020, the pandemic delayed its applicability and the same was made applicable recently on 1st April, 2021. The notification making the same applicable [&hel...

Read More
Posted Under: Income Tax |

Changes in Charitable Trust, NGO, Society or Institutions from 01.04.2021

All Trust, Society, NGO’s Do before 30.06.2021  This article focus on major changes brought in by Finance Act 2020 replace section 12AA into 12AB and consequential change sin Section in section 10(23C) as well as 80G. Due to Covid-19 pandemic CBDT has decided to defer the implementation of new procedure for approval/registration from 1...

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Posted Under: Income Tax |

Section 12AB Registration Procedure for First Time Registration of Trusts

Registration Procedure For Trusts/Institutions Seeking Registration U/S 12Ab For The First Time Newly inserted provisions namely section 12AB and clause (ac) in subsection 1 of section 12A in The Income-tax Act, 1961 (Act) have changed the procedure for trusts/ institutions to get themselves registered under the Act. For trusts/institutio...

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Posted Under: Income Tax |

Guide to Renewal of or Application for 12A & 80G Registrations

This article focuses on the major changes brought in by the Finance Act 2020 by introducing new section 10AB replacing section 10AA and bringing in similar amendments in section 10(23C) and Section 80G. These provisions pertaining to registration were originally made effective from 01-06-2020. Subsequently, due to the crisis caused by COV...

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Posted Under: Income Tax |

Mandatory Registrations for NGOs after 01.04.2021

Mandatory Registrations for NGOs after 01.04.2021 – Form CSR-1, Section 80G and Section 12AB of Income Tax Act As per Notification issued by Ministry of Corporate Affairs dated 22nd January 2021, it is mandatory for all NGO’s which wants to raise CSR Funding to enrol with MCA w.e.f 01/04/2021 to get CSR Funding. And Filing […]...

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Posted Under: Income Tax | ,

Charitable Trusts to Re-register to avail Tax Exemptions

Are you Charitable Trust/Institutions? Re-register now to continue to avail Tax Exemptions – New Forms notified In Pre-amendment era, the charitable trusts/Institution were enjoying the perpetual benefit of zero taxation on income earned out of property held by such trust/Institution. Interestingly, once the registration under secti...

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Posted Under: Income Tax |

Fresh application of registration for existing Trusts/Institutions under section 12AB w.e.f. 1st April, 2021

Fresh application of registration for existing Trusts/Institutions under section 12AB w.e.f. 1st April, 2021 To update register of Charitable and Religious Trusts, the Finance Minister of our Country, Smt. Nirmala Sitaraman had presented a proposal in Union Budget 2020, to make substantial amendments for granting registration to the Chari...

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Posted Under: Income Tax |

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