Income Tax : The new Income Tax Rules, 2026 permit reapplication within one month of rejection. This provides a faster alternative to appeals a...
Income Tax : Authorities now scrutinize NGO financial statements before granting or renewing registration. Proper documentation and clear chari...
Income Tax : Expanded grounds for cancellation now include legal non-compliance and incorrect disclosures. Trusts must treat accuracy and gover...
Income Tax : Objects benefiting specific communities or allowing overseas application of funds invite rejection. The ruling focus is on deed la...
Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legal...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
CA, CS, CMA : A Chartered Accountants' association requests an extension for tax audit and 12A renewal due dates, citing portal issues, festive ...
Income Tax : The Chartered Accountants Association requests tax deadline extensions for TAR, ITR, and 12A renewals, citing severe floods in nor...
Income Tax : Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes...
Income Tax : The Tribunal held that applications were rejected without adequate opportunity. The matter was remanded for fresh adjudication fol...
Income Tax : ITAT held that interest earned on bank deposits is taxable and not covered by the principle of mutuality. The ruling confirms that...
Income Tax : The Tribunal ruled that failure to obtain prior approval for loans is only a procedural lapse. It directed reconsideration of 12A ...
Income Tax : The ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration. It emphasiz...
Income Tax : ITAT Mumbai held that rejection of registration under section 12AB of the Income Tax Act treating receipts and income from sale of...
Income Tax : The Income Tax Amendment Rules, effective October 1, 2024, revise Form No. 10A and 10AB for registration under sections 12A and 80...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
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...
ITAT Nagpur held that short charging of rent from the trustee cannot be reason for denial of entire claim of exemption under section 11 of the Income Tax Act. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
On verification of various documents, CIT(E) noted that in the trust deed it has been categorically mentioned that the trust is a private trust and is set up to impart religious education to a particular caste who accept the principle of Varnashrama Dharma.
Revalidated registration under section 12A and/or 80G is valid for a period of five years, after which it needs to be revalidated again. Re-application after five years has to be made at least six months before expiry of validity period of registration.
Rajasthan High Court upholds trust registration under Section 12A, ruling initial approval hinges on genuine objects, not income application. Clarifies AO’s role in annual assessments.
Jaipur ITAT directs CIT(E) to grant 12AB registration to APJ Abdul Kalam Education and Welfare Trust, finding objections on FCRA, RPT Act, and activities invalid.
This is an appeal filed by the assessee against the order of Commissioner of Income Tax (Exemptions), New Delhi [CIT(E)] dated 28.06.2023 for cancellation of registration granted u/s 12A and u/s 12AB(4) of the Income Tax Act, 1961 (the Act).
ITAT Ahmedabad allows appeal of Sorathiya Darji Kedvani Mandal, ruling surcharge not applicable on trust’s income below Rs. 50 lakhs, citing precedents.
ITAT rules corpus donations to a society are capital receipts, not taxable income, regardless of 12AA registration, citing judicial precedents.
Amount received by assessee trust from its settler, towards infrastructure fund, was not taxable in hands of assessee, despite the fact that the assessee trust was not registered u/s 12A of Act in that year.
ITAT Cochin returns tax case involving delayed ITR filing by YWCA to CIT(A) citing insufficient opportunity of hearing, emphasizing natural justice.
