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...
These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors and donation relevant to the Financial Year.
Versova Kokni Sunni Jamat Trust Vs Centralised Processing Centre (ITAT Mumbai) CIT(A), though admitted that assessee is not registered under section 12A of the Act and thus no benefit of exemption could be allowed to the assessee under section 11 of the Act, rejected the contention of the assessee that irrespective of status of registration […]
The Finance Act, 2020 has introduced a new provision as a result of which all existing trusts have to undergo re-registration under Section 12A and 80G and Re-approval U/s 10(23C) and Section 35(1). To give effect to this, new section 12AB has been inserted with effect from 1st April, 2020 dealing with the procedure of […]
Merely because the assessee had filed a letter on 21.03.2016 surrendering its registration u/s 12A or giving its benefit of section 11, does not mean that from the date of the letter, the jurisdiction of the AO automatically got changed.
The Mumbai Tribunal has allowed relief to BCCI and directed CIT to grant registration under Section 12A citing that BCCI is still promoting the game of cricket.
CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the IT Act,1961. The application for registration or approval in Form No. 10AB can be filed upto 30th September, 2022. *** CBDT extends last date for filing of Form No.10AB for seeking registration […]
Relevant Section, Rule and Forms Section 12A – Conditions for applicability of sections 11 and 12. Sec 12AB – Prescribes the procedure framework for registration with the income-tax authorities to avail the exemption u/s 11 and 12.(introduced wef AY 2022-2023) Section 80G – Deduction in respect of donations to certain funds, charitable institutions, etc Section 10(23C) […]
CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration in prescribed format The applicant shall make an application in Form 10A with the Principal Commissioner or Commissioner authorized by the Board on or before the […]
New Procedure for Registration – Section 12AB with effect from 1st April, 2021 (For this purpose, CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration) Sec 12A – Prescribes the conditions for availing the benefits […]
Where the total income of any trust or institution under the second regime, as computed under this Act without giving effect to the provisions of section 11 and section 12 of the Act, exceeds the maximum amount which is not chargeable to income-tax in any previous year, it is required to get its accounts audited. Similar provision exists for the trusts or institutions under the first regime in the tenth proviso to clause (23C) of section 10 of the Act.
