section 12a

Benefits & Procedure for Registration u/s 80G of Income Tax Act,1961

Income Tax - Important Points related to Section 80G of Income Tax Act, 1961: It is important to note that when registration is granted under section 12A, it does not mean that section 80G approval has been given i.e. registration under section 12A will not provide automatic approval under section 80G. It has to be applied separately....

Read More

Step by Step Procedure for Registration u/s 12A of Income Tax Act 1961

Income Tax - Trust, Society and Section 8 Company can seek registration u/s 12A to claim exemption under Income Tax Act’ 1961, if certain conditions are satisfied. Section 12A deals with registration of trust and section 12AA deals with procedure for registration of trust....

Read More

Exit tax where charitable institution converts into non-charitable

Income Tax - In order to ensure that the intended purpose of exemption availed by trust or institution is achieved, a specific provision in the Act is required for imposing a levy in the nature of an exit tax which is attracted when the organization is converted into a non-charitable organization or gets merged with a non-charitable organization or do...

Read More

Common errors in taxation of charitable and religious organization

Income 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 More

Check List for Registration U/s. 12A & 80G of Income Tax Act,1961

Income Tax - Both applications can be applied together or it can also be applied separately also. If some organization is willing to apply both applications separately, then application for registration u/s 12A will be applied first. Getting 12A registration is must for applying application for registration u/s 80G of Income Tax Act, 1961....

Read More

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,...

Read More

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....

Read More

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...

Read More

Sec. 12AA Training in rock climbing, mountaineering, bag-packing, kayaking, sailing and rafting is educational activity

Nandadevi Outdoor Leadership School Vs. DIT (Exemptions) (ITAT Delhi) - Nandadevi Outdoor Leadership School Vs. DIT (Exemptions) (ITAT Delhi)  The assessee is engaged in the activities of rock climbing and mountaineering, bag-packing, kayaking, sailing and rafting. It says that it is one of the world‟s biggest outdoor skill trainer and its parent is headquartered in ...

Read More

Registration under FCRA cannot be denied to society on mere bald report on use of Foreign Contribution

DR R N Gupta Technical Education Society Vs Union of India (Delhi High Court) - The petitioner - a Society registered under the Societies Registration Act, 1860 - has filed the present petition impugning communications dated 01.08.2014 and 07.12.2015 (hereafter referred to as the impugned communications)...

Read More

Examining application of income towards charitable objects while granting registration U/s. 12A not permitted

Bhartiya Kisan Sangh Sewa Niketan Vs. CIT (ITAT Delhi) - CIT(E), at the stage of granting registration under section 12A was required to examine objects of society and not the application of income which would to be undertaken by AO on a year to year basis therefore, assessee’s objective being charitable within the meaning of section 2(15), CIT(E) was ...

Read More

Challenge pending cannot be equated to challenge succeeding: Bombay HC

CIT Vs Bharati Vidyapeeth (Bombay High Court) - CIT Vs Bharati Vidyapeeth (Bombay High Court); The only argument is, namely, if the Revenue succeeds in the Appeal challenging the order of the Tribunal restoring assessee’s registration, then it may be open for the Revenue to tax its income and by holding that both Sections 11 and 12 of the I...

Read More

Surplus generation from charitable activities did not dis-entitle assessee from registration U/s. 12A

Yashaswi Education Society Vs CIT (ITAT Pune) - This appeal by the assessee is directed against the order of Commissioner of Income Tax -I, Pune dated 29-11-2013 rejecting the application of the assessee for grant of registration under section 12AA(1)(b)(ii) of the Income Tax Act, 1961 (hereinafter referred to as the Act)....

Read More
Sorry No Post Found

section 12a’s Popular Posts

Recent Posts in "section 12a"

Benefits & Procedure for Registration u/s 80G of Income Tax Act,1961

Important Points related to Section 80G of Income Tax Act, 1961: It is important to note that when registration is granted under section 12A, it does not mean that section 80G approval has been given i.e. registration under section 12A will not provide automatic approval under section 80G. It has to be applied separately....

Read More
Posted Under: Income Tax |

Step by Step Procedure for Registration u/s 12A of Income Tax Act 1961

Trust, Society and Section 8 Company can seek registration u/s 12A to claim exemption under Income Tax Act’ 1961, if certain conditions are satisfied. Section 12A deals with registration of trust and section 12AA deals with procedure for registration of trust....

Read More
Posted Under: Income Tax |

Sec. 12AA Training in rock climbing, mountaineering, bag-packing, kayaking, sailing and rafting is educational activity

Nandadevi Outdoor Leadership School Vs. DIT (Exemptions) (ITAT Delhi)

Nandadevi Outdoor Leadership School Vs. DIT (Exemptions) (ITAT Delhi)  The assessee is engaged in the activities of rock climbing and mountaineering, bag-packing, kayaking, sailing and rafting. It says that it is one of the world‟s biggest outdoor skill trainer and its parent is headquartered in the USA. It offered courses in the Himal...

Read More

Registration under FCRA cannot be denied to society on mere bald report on use of Foreign Contribution

DR R N Gupta Technical Education Society Vs Union of India (Delhi High Court)

The petitioner - a Society registered under the Societies Registration Act, 1860 - has filed the present petition impugning communications dated 01.08.2014 and 07.12.2015 (hereafter referred to as the impugned communications)...

Read More

Examining application of income towards charitable objects while granting registration U/s. 12A not permitted

Bhartiya Kisan Sangh Sewa Niketan Vs. CIT (ITAT Delhi)

CIT(E), at the stage of granting registration under section 12A was required to examine objects of society and not the application of income which would to be undertaken by AO on a year to year basis therefore, assessee’s objective being charitable within the meaning of section 2(15), CIT(E) was not justified in denying the registratio...

Read More

Challenge pending cannot be equated to challenge succeeding: Bombay HC

CIT Vs Bharati Vidyapeeth (Bombay High Court)

CIT Vs Bharati Vidyapeeth (Bombay High Court); The only argument is, namely, if the Revenue succeeds in the Appeal challenging the order of the Tribunal restoring assessee’s registration, then it may be open for the Revenue to tax its income and by holding that both Sections 11 and 12 of the IT Act have no application […]...

Read More

Surplus generation from charitable activities did not dis-entitle assessee from registration U/s. 12A

Yashaswi Education Society Vs CIT (ITAT Pune)

This appeal by the assessee is directed against the order of Commissioner of Income Tax -I, Pune dated 29-11-2013 rejecting the application of the assessee for grant of registration under section 12AA(1)(b)(ii) of the Income Tax Act, 1961 (hereinafter referred to as the Act)....

Read More

Registration u/s 12A cannot be denied to a Trust for mere Fee Collection

Gyaan Vikas Foundation Siliguri Vs C.I.T. (ITAT Kolkata)

There is nothing brought on record to show that the activities of the assessee are driven by profit motive. In these circumstances we are of the view that the conditions for grant of registration u/s 12AA of the Act are duly satisfied as the activities of the assessee are genuine and its objects are also charitable....

Read More

Mere surplus year after year cannot be deciding factor to deny exemption U/s. 11

ACIT (Exemption) Vs. ACIT (Exemption) (ITAT Jaipur)

Assessee society is generating surplus year after year is not the deciding factor to determine whether it is eligible for exemption under section 11 of the Act. And on this ground alone, the exemption claimed by the assessee society under section 11 can not be denied. What is relevant to examine is whether the surplus so generated is plou...

Read More

Exemption U/s. 11 /12 cannot be denied by invoking Section 2(15) merely for profit from imparting of education

Society for Participatory Research In Asia Vs. ITO (Delhi High Court)

The assessee was a recipient of research and training grant and other income to the tune of Rs. 1.36 crores. The AO determined that the latter were commercial receipts and guided by proviso to Section 2(15) and held that the assessee could not avail the benefit under section 11(23) of the Act. The ITAT relied […]...

Read More
Posted Under: Income Tax |
Page 1 of 812345...Last »

Browse All Categories

CA, CS, CMA (3,570)
Company Law (3,565)
Custom Duty (6,736)
DGFT (3,536)
Excise Duty (4,060)
Fema / RBI (3,324)
Finance (3,550)
Income Tax (25,860)
SEBI (2,781)
Service Tax (3,296)

Search Posts by Date

January 2018
M T W T F S S
« Dec    
1234567
891011121314
15161718192021
22232425262728
293031