Section 12A

Procedure For Filing Form 10BD – A Step by Step Approach

Income Tax - PROCEDURE FOR FILING FORM 10BD – A STEP BY STEP APPROACH Procedure for filing Form 10BD for Financial Year 2021-22 [Due date 31st May 2022] A. Introduction Much awaited Form 10BD has been release by the Income Tax Department. In continuation to my article on ‘Note on Statement of Donations and Certificate of Donations‘ ...

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Who has to file Form No.10AB: Why and How

Income Tax - The Finance Act, 2020 has introduced a new provision as a result of which all existing trusts have to undergo re-registration under Section 12A and 80G and Re-approval U/s 10(23C) and Section 35(1). To give effect to this, new section 12AB has been inserted with effect from 1st April, 2020 dealing with the procedure of […]...

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BCCI Not Engaged in Commercial Activities as Funds are used in Promotion of Sports

Income Tax - The Mumbai Tribunal has allowed relief to BCCI and directed CIT to grant registration under Section 12A citing that BCCI is still promoting the game of cricket....

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Permanent Registration of Charitable Trust by filing Form No. 10AB

Income Tax - Relevant Section, Rule and Forms Section 12A – Conditions for applicability of sections 11 and 12. Sec 12AB – Prescribes the procedure framework for registration with the income-tax authorities to avail the exemption u/s 11 and 12.(introduced wef AY 2022-2023) Section 80G – Deduction in respect of donations to certain f...

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New Registration Process for Existing Trust/Societies: Form 10A

Income Tax - CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration in prescribed format The applicant shall make an application in Form 10A with the Principal Commissioner or Commissioner authorized by the Boar...

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How to file Form 10BD – Part-B Details of donors & donation

Income Tax - These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors and donation relevant to the Financial Year....

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Representation on Issues in Registration of Charitable institutions due to order of CITs

Income Tax - BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in response to applications preferred  under section 12A(1)(ac) and the first proviso to section 10(23C) of the Income Tax Act 1961. Bombay Chartered Accountants Society  Harnessing Talent and Providing Quality Se...

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Improper drastic changes in Income tax provisions relating to Trusts/NGOs

Income Tax - CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala Sitharaman and brought to her attention improper Drastic changes made in Income tax provisions relating to Charitable and Religious Trusts (Trusts/NGOs. He highlighted provisions relating to putting severe restr...

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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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ITAT explains Cancellation of section 12AA registration post amendment by Finance Act, 2021

S.R.Trust Vs PCIT (Madras High Court) - S.R.Trust Vs PCIT (Madras High Court) ITAT held that procedure of cancellation of the registration already enjoyed either under 12A regime or 12AA regime in the case of the petitioner, in view of the new regime having been introduced, shall take place only after disposing the application made by the...

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Religious charitable trust not making any distinction between caste, creed, race, religion eligible to register as trust  for Charitable purpose

Sri Channamallikarjuna Trust Committee Gangavathi Vs CIT (Exemption) (ITAT Bangalore) - Sri Channamallikarjuna Trust Committee Gangavathi Vs CIT (Exemption) (ITAT Bangalore) Sec. 80G applies only to charitable trusts or institutions. It does not apply to religious trusts or institutions whereas scheme of exemption u/s 12A applies to both charitable as well as religious trusts. Section ...

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Section 12A(ab) mandates filing of application within 30 days

Aspam Foundation Vs CIT(Exemption) (ITAT Delhi) - Aspam Foundation Vs CIT (Exemption) (ITAT Delhi) 1. The Assessee herein has preferred the instant appeal against the order dated 31.01.2019 impugned herein passed u/s 12AA(1)(b) r.w.s. 12A of the Income Tax Act, 1961 (for short “the Act”), by ld. Commissioner of Income tax (Exemption), New Delhi...

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Clerical Mistake In Audit Report Form 10B Can Be Rectified

Desh Bharti Public School Samiti Vs DCIT (ITAT Lucknow) - Desh Bharti Public School Samiti Vs AO/DCIT (ITAT Lucknow) We find that it is undisputed fact that assessee got registration u/s.12A of the Act w.e.f. 1.4.2013 vide order dated 2.9.2014, a copy of such registration certificate is placed in P.B. pg.24. It is also an undisputed fact that assessee in t...

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No Deemed Registration under section 12AA: SC

Harshit Foundation Sehmalpur Jalalpur Jaunpur Vs CIT Faizabad (Supreme Court) - Harshit Foundation Sehmalpur Jalalpur Jaunpur Vs CIT Faizabad (Supreme Court) The only question which is posed for consideration before the High Court was whether on non-deciding the application for registration under Section 12AA (2) of the Income Tax Act, 1961 (‘the Act’) within a period of si...

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CBDT extends last date for filing of Form No.10AB

Circular No. 8/2022-Income Tax - (31/03/2022) - CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the IT Act,1961. The application for registration or approval in Form No. 10AB can be filed upto 30th September, 2022. *** CBDT extends last date for filing of Form No.10AB...

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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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Recent Posts in "Section 12A"

ITAT explains Cancellation of section 12AA registration post amendment by Finance Act, 2021

S.R.Trust Vs PCIT (Madras High Court)

S.R.Trust Vs PCIT (Madras High Court) ITAT held that procedure of cancellation of the registration already enjoyed either under 12A regime or 12AA regime in the case of the petitioner, in view of the new regime having been introduced, shall take place only after disposing the application made by the trust or institution, under the [&helli...

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Religious charitable trust not making any distinction between caste, creed, race, religion eligible to register as trust  for Charitable purpose

Sri Channamallikarjuna Trust Committee Gangavathi Vs CIT (Exemption) (ITAT Bangalore)

Sri Channamallikarjuna Trust Committee Gangavathi Vs CIT (Exemption) (ITAT Bangalore) Sec. 80G applies only to charitable trusts or institutions. It does not apply to religious trusts or institutions whereas scheme of exemption u/s 12A applies to both charitable as well as religious trusts. Section 80G of the Income Tax Act’1961 provide...

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Section 12A(ab) mandates filing of application within 30 days

Aspam Foundation Vs CIT(Exemption) (ITAT Delhi)

Aspam Foundation Vs CIT (Exemption) (ITAT Delhi) 1. The Assessee herein has preferred the instant appeal against the order dated 31.01.2019 impugned herein passed u/s 12AA(1)(b) r.w.s. 12A of the Income Tax Act, 1961 (for short “the Act”), by ld. Commissioner of Income tax (Exemption), New Delhi (in short “Ld. Commissioner”). 2. I...

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Clerical Mistake In Audit Report Form 10B Can Be Rectified

Desh Bharti Public School Samiti Vs DCIT (ITAT Lucknow)

Desh Bharti Public School Samiti Vs AO/DCIT (ITAT Lucknow) We find that it is undisputed fact that assessee got registration u/s.12A of the Act w.e.f. 1.4.2013 vide order dated 2.9.2014, a copy of such registration certificate is placed in P.B. pg.24. It is also an undisputed fact that assessee in the earlier years has been […]...

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No Deemed Registration under section 12AA: SC

Harshit Foundation Sehmalpur Jalalpur Jaunpur Vs CIT Faizabad (Supreme Court)

Harshit Foundation Sehmalpur Jalalpur Jaunpur Vs CIT Faizabad (Supreme Court) The only question which is posed for consideration before the High Court was whether on non-deciding the application for registration under Section 12AA (2) of the Income Tax Act, 1961 (‘the Act’) within a period of six months, there shall be deemed registra...

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Procedure For Filing Form 10BD – A Step by Step Approach

PROCEDURE FOR FILING FORM 10BD – A STEP BY STEP APPROACH Procedure for filing Form 10BD for Financial Year 2021-22 [Due date 31st May 2022] A. Introduction Much awaited Form 10BD has been release by the Income Tax Department. In continuation to my article on ‘Note on Statement of Donations and Certificate of Donations‘ ...

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Posted Under: Income Tax |

How to file Form 10BD – Part-B Details of donors & donation

These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors and donation relevant to the Financial Year....

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Posted Under: Income Tax | ,

Corpus donation received by Trust not registered under section 12A is not taxable

Versova Kokni Sunni Jamat Trust Vs Centralised Processing Centre (ITAT Mumbai)

Versova Kokni Sunni Jamat Trust Vs Centralised Processing Centre (ITAT Mumbai) CIT(A), though admitted that assessee is not registered under section 12A of the Act and thus no benefit of exemption could be allowed to the assessee under section 11 of the Act, rejected the contention of the assessee that irrespective of status of registrati...

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Who has to file Form No.10AB: Why and How

The Finance Act, 2020 has introduced a new provision as a result of which all existing trusts have to undergo re-registration under Section 12A and 80G and Re-approval U/s 10(23C) and Section 35(1). To give effect to this, new section 12AB has been inserted with effect from 1st April, 2020 dealing with the procedure of […]...

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Posted Under: Income Tax |

Jurisdiction of AO not changes on mere surrendering of Section 12A registration (Young Indian Case)

Young Indian Vs ACIT (ITAT Delhi)

Merely because the assessee had filed a letter on 21.03.2016 surrendering its registration u/s 12A or giving its benefit of section 11, does not mean that from the date of the letter, the jurisdiction of the AO automatically got changed....

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