Income Tax : Understand the income of trusts or institutions, including registration, exemptions, and FAQs. Learn about Sections 12A, 12AA, and...
Income Tax : Learn why exemptions claimed under the wrong section in Income Tax Returns can be rectified under Section 154. Explore legal prece...
Income Tax : Discover the challenges faced by NGOs with provisional registration under Sections 12A and 80G of the Income Tax Act, 1961. Explor...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Income Tax : Explore the intricacies of Section 12AB registration for General Public Utility (GPU) organizations under the Income Tax Act. Lear...
Income Tax : Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes...
Income Tax : Understand amendments to trust registration timelines under Income-tax Act section 12A. Learn how delays can be condoned by the Co...
Income Tax : Engage in shaping tax audit guidelines! Direct Taxes Committee invites public comments on the Exposure Draft for Guidance Note on ...
CA, CS, CMA : Explore the challenges faced by Charitable Trusts due to delays or errors in submitting applications under Section 12A(1)(ac) of t...
Income Tax : Karnataka State Chartered Accountants Association made a representation on 31.10.2022 to Minister of Finance Smt. Nirmala Sitharam...
Income Tax : ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the li...
Income Tax : Delhi High Court held that affiliation with and recognition by a regulatory authority are not essential attributes of education un...
Income Tax : Kerala High Court dismisses Income Tax Department's appeal below Rs.1 crore limit, involving Kunhitharuvai Memorial Charitable Tru...
Income Tax : Chemstar International Vs DCIT (ITAT Mumbai) mere suspicion or cancellation of registration post-donation not invalidate initial e...
Income Tax : Gujarat High Court ruled on N H Kapadia Education Trust vs ACIT, addressing the corpus donation eligibility for exemption under Se...
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Income Tax : CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of th...
Income Tax : CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable instituti...
Income Tax : 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 inco...
Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) ITAT observed that due to the negligence or cheating of past executive members and bad intention of misappropriation of funds by ex-president, they had not maintained the books of accounts and get their accounts audited by a chartered accountant. But after change of management and involvement of […]
Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) We are of the opinion that in the present case the ld. Pr. CIT(C) has found or made allegation or objection of diversion or mis appropriations of funds and not filling the Audit report and ITR, if any only in A.Y. 2014-15 to 2016-17 & not in […]
(1) Anand Escher Amar Charitable Cancer and Malty Specialty Hospital Society Vs. CIT (Exemption) Chandigarh 2019. 104 Taxman.com 369 (Amritsar Tribunal) 2019 176 ITD 424 (Amritsar) As the trust has not started activity as per Trust Deed. Registration was not granted. Tribunal observe that at the time of granting Registration only Object and genuineness are […]
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 of the trust were not charitable, but were commercial in nature.
Evangelical Missionary Society Vs CIT (Exemptions) (ITAT Cuttack) Sec. 12A of the Income Tax Act lays down the provisions of Sec,11 & 12 shall not apply in relation to the income of any trust or institution unless the condition stated therein are fulfilled. The first condition for allowing the exemption u/s.11 is that the person […]
Thanthi Trust Vs DIT (Madras High Court) Whether the Tribunal was right holding that the appellant trust is not eligible for exemption under Section 12A of the Income Tax Act, 1961 without considering the merits of the case in a proper manner? In the case on hand, there is no allegation that the assessee Trust […]
The Hon’ble AAR, Gujarat in Re: All India Disaster Mitigation Institute [Advance Ruling No. GUJ/GAAR/R/20/2019 dated September 11, 2019] wherein the charitable trust registered under Section 12AA and 80G of Income-tax Act, 1961 (Income Tax Act) carrying out charitable activities for preservation of environment, held that since the activities were exempt from tax under GST, […]
As per the existing provisions of the Act, donations made by a trust to any other trust or institution registered under section 1 2AA or to any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via)
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 wards of the Police personnel. Hence, it […]
In this Covid 19 pandemic times, many NGO have been come forward to help the society. They are providing assistance in medical, relief to the poor, food, education, home shelter etc. They are foundation for this critical time. Many kind hearted people also come forward to donate to NGO so that the NGO can function […]
