Section 12A

Trust Registration under section 10(23C), 12A, 12AA, 12AB, 80G

Income Tax - Key Notes on Direct Taxation (Income Tax) For UNION BUDGET 2020 FOR APPLICATION AND VALIDITY OF REGISTRATION FOR TRUST/INSTITUTION U/S 10(23C), SECTION 12A, 12AA, 12AB, 80G of the Income Tax Act, 1961. The process of approval and registration of trusts, institutions, funds, university, hospital etc. proposed to be rationalised with effect...

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Non Government Organisations- Registration, Constitution & Taxation

Income Tax - NGOs stand for non-governmental organisations. In a general term, a non- governmental organisation is the one that operates independently of any government, typically one whose purpose is to address a social or political issue. For example, an NGO taking initiative by providing medical and educations awareness facilities in rural areas wh...

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Decoding Various Tax provisions for Charitable Trust/Institutions

Income Tax - Section 12A/12AA of The Income Tax Act, 1961 deals with registration of Charitable Trust/Institutions. In order to get the Trust/institution registered under Section 12A/12AA, the application should be submitted to Commissioner of Income Tax....

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Sweeping Changes in Charitable Trust & Institutions under Income Tax

Income Tax - However, registration process under section 80G has also been amended with similar effect as that of section 12AB & section 10(23C)...

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Taxation of Charitable Institutions- Amendments Vide Finance Act 2020

Income Tax - Charitable Institutions supplement the efforts of the Government in providing social services. This fact is more visible during the COVID-19 whereby many such institutions have taken upon themselves the task of providing food to the needy and supporting other social activities. The Government, on their part realising the supplementary eff...

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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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Bar Council eligible for Registration u/s 12AA & Exemption u/s 80G

Bar Council of Delhi Vs CIT (Exemption) (ITAT Delh) - The issue under consideration is whether the CIT is correct in rejecting the application filed by Bar Council of Delhi seeking registration u/s 12A (a) of the Income Tax Act?...

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ITAT dismisses ex-parte order of CIT denying Section 80G exemption

Dnyanranjan Shikshan Prasarak Mandal Vs CIT Exemptions (ITAT Pune) - Whether the ex-parte order of the CIT(Exemptions) denying 80G exemption is justified in law? ITAT dismissed ex-parte order of CIT(E) on the basis of principles of natural justice...

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Exemption u/s 10 & 11 cannot be granted merely based on section 12AA Registration

Director of Income Tax Vs ST. ANN's Education Society (Karnataka High Court) - The issue under consideration is whether the Income Tax benefit under section 10 and 11 will be granted on the basis of registration under section 12AA?...

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Section 35(1)(ii) Donation: HC remands matter back to AO to check capacity of Donor

Krupa Trading Co. Vs ITO (Madras High Court) - In the given case The appellant made a contribution of Rs.1,00,000/- during the year, to M/s.Herbicure Healthcare Bio-herbal Research Foundation, Calcutta. The institution was approved to get the contributions under Section 35(1)(ii) of the Income Tax Act....

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Registration of Trust cannot be cancelled if activities of Trust are within its objects

CIT Vs Mumbai Metropolitan Region Development Authority (Bombay High Court) - CIT Vs Mumbai Metropolitan Region Development Authority (Bombay High Court) In the instant case Tribunal discussed the objects of the assessee i.e.,the respondent and returned a finding of fact that the entire objects are charitable in nature having regard to the meaning of the expression “Charita...

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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"

Trust Registration under section 10(23C), 12A, 12AA, 12AB, 80G

Key Notes on Direct Taxation (Income Tax) For UNION BUDGET 2020 FOR APPLICATION AND VALIDITY OF REGISTRATION FOR TRUST/INSTITUTION U/S 10(23C), SECTION 12A, 12AA, 12AB, 80G of the Income Tax Act, 1961. The process of approval and registration of trusts, institutions, funds, university, hospital etc. proposed to be rationalised with effect...

Read More
Posted Under: Income Tax |

Bar Council eligible for Registration u/s 12AA & Exemption u/s 80G

Bar Council of Delhi Vs CIT (Exemption) (ITAT Delh)

The issue under consideration is whether the CIT is correct in rejecting the application filed by Bar Council of Delhi seeking registration u/s 12A (a) of the Income Tax Act?...

Read More

Non Government Organisations- Registration, Constitution & Taxation

NGOs stand for non-governmental organisations. In a general term, a non- governmental organisation is the one that operates independently of any government, typically one whose purpose is to address a social or political issue. For example, an NGO taking initiative by providing medical and educations awareness facilities in rural areas wh...

Read More
Posted Under: Income Tax |

Decoding Various Tax provisions for Charitable Trust/Institutions

Section 12A/12AA of The Income Tax Act, 1961 deals with registration of Charitable Trust/Institutions. In order to get the Trust/institution registered under Section 12A/12AA, the application should be submitted to Commissioner of Income Tax....

Read More
Posted Under: Income Tax |

ITAT dismisses ex-parte order of CIT denying Section 80G exemption

Dnyanranjan Shikshan Prasarak Mandal Vs CIT Exemptions (ITAT Pune)

Whether the ex-parte order of the CIT(Exemptions) denying 80G exemption is justified in law? ITAT dismissed ex-parte order of CIT(E) on the basis of principles of natural justice...

Read More

Exemption u/s 10 & 11 cannot be granted merely based on section 12AA Registration

Director of Income Tax Vs ST. ANN's Education Society (Karnataka High Court)

The issue under consideration is whether the Income Tax benefit under section 10 and 11 will be granted on the basis of registration under section 12AA?...

Read More

Sweeping Changes in Charitable Trust & Institutions under Income Tax

However, registration process under section 80G has also been amended with similar effect as that of section 12AB & section 10(23C)...

Read More
Posted Under: Income Tax |

Taxation of Charitable Institutions- Amendments Vide Finance Act 2020

Charitable Institutions supplement the efforts of the Government in providing social services. This fact is more visible during the COVID-19 whereby many such institutions have taken upon themselves the task of providing food to the needy and supporting other social activities. The Government, on their part realising the supplementary eff...

Read More
Posted Under: Income Tax |

Section 35(1)(ii) Donation: HC remands matter back to AO to check capacity of Donor

Krupa Trading Co. Vs ITO (Madras High Court)

In the given case The appellant made a contribution of Rs.1,00,000/- during the year, to M/s.Herbicure Healthcare Bio-herbal Research Foundation, Calcutta. The institution was approved to get the contributions under Section 35(1)(ii) of the Income Tax Act....

Read More

Charitable trust/institutions- No more never ending exemption benefits

Presently, the charitable trusts/Institution are enjoying the perpetual benefit of zero taxation on income earned out of property held by such trust/Institution. Interestingly, once the registration under section 10(23C)/12AA/35/80G/ is notified/granted, will remain in force till the CG/Commissioner of Income tax basis the documents calle...

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Posted Under: Income Tax |

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