Section 12A - Page 10

Tax Worth Rs. 249 Crore Recovered from BCCI

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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Posted Under: Income Tax |

Dy. DIT, Ernakulam Vs Adi Sankara Trust ( ITAT Cochin)

The Dy. Director of Income-tax Vs. Adi Sankara Trust (ITAT Cochin)

Dy. DIT, Ernakulam Vs Adi Sankara Trust ( ITAT Cochin)- Income Tax - Sections 11, 12A, 32(1) - When assessee, a charitable body, has already claimed deduction for acquisition of capital assets as application of money, the further claim of depreciation on the same assets would amount to double benefits and can not be allowed. ...

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

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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Commissioner is empowered to satisfy himself that the trust activates are genuine and in consonance with its objects before granting approval u/s 80G

Pearls Educational Institute Vs CIT (ITAT Delhi)

From the above facts, it is clear that Once the society during a period of almost 12 years has not carried out any activity, except purchasing land, to construct school/college building for imparting education, which was the main object of the society the activities of the trust for granting approval under section 80G cannot be called gen...

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If a trust fulfills all conditions of section 12A/12AA, registration cannot be denied on ground that some conditions of section 11 and 12 not fulfilled

CIT Vs Krishi Utpadan Handi Samiti (Allahabad High Court)

Assessees who fulfill all the conditions are entitled to registration cannot be faulted. The contention of the Revenue that the assessees are not registered as an institution and hence not entitled for registration is also without any merit, because, there is no requirement under the Act that an institution...

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Catholic churches worried about impact of direct tax code on them

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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Posted Under: Income Tax |

FAQs by NGOS, Queries related to Income Tax Act, 1961

Q1 : Whether the Income-tax Act, 1961 is applicable to all the Voluntary Organisations who are engaged in socio-economic development programmes in India ? Please clarify. Ans : The Income Tax Act, 1961, is applicable to Voluntary Organisations which are engaged in public charitable or religious activity. Hence, Voluntary Organisations whi...

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Registration U/s. 12A cannot be denied if CIT not doubted genuineness of activities of trust

Aggarwal Mitra Mandal Trust Vs Director Of Income Tax 29 September, 20062007 106 ITD 531 Delhi, 2007 293 ITR 259 Delhi, (2007) 109 TTJ Delhi 128

Aggarwal Mitra Mandal Trust Vs. DIT (Exemption) (2007) 293 ITR (AT) 259 (Delhi)- while granting registration under section 12A of the Act, the CIT is to satisfy himself about the genuineness of activities and objects of the trust and as such, the scope of his powers was limited in this regard to make such enquiries […]...

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Contravention of s. 11(5) have no bearing on renewal U/s. 80G(5)

Orpat Charitable Trust Vs Commissioner Of Income-Tax (Gujarat High Court)

Even if the ground about contravention of the provisions of Section 11(5) of the Act is validly taken by the respondent, the same would have a bearing only at the point of time of the assessment of the petitioner-trust and would not be a material consideration in so far as granting of approval under Section 80G(5) of the Act is concerned....

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