Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...
Income Tax : The Delhi ITAT held that institutions engaged in preservation of environment fall under a specific charitable limb under Section 2...
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 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 assessee mistakenly filed its registration application under Section 12A(1)(ac)(ii) instead of Section 12A(1)(ac)(iii). The Tr...
Income Tax : ITAT held that registration under Section 12AB cannot be rejected merely because the Assessing Officer or Range Head did not recom...
Income Tax : The Tribunal held that a trust’s application for regular registration could not be rejected solely because the wrong clause was ...
Income Tax : The ITAT held that registration under Sections 12AA/12AB cannot be cancelled when the trust continues to genuinely carry out its e...
Income Tax : When an educational society was found to be substantially engaged in genuine charitable activities, its exemption could not be den...
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...
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.
ICMAI Registered Valuers Organisation Vs CIT (E) (ITAT Delhi) From a bare reading of the impugned order under section 12AA of the Act, it appears that the assessee has failed to respond to the requirements of the CIT(E) to enable him to appreciate the relevant facts for the purposes of registration. However, in the same […]
BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in response to applications preferred under section 12A(1)(ac) and the first proviso to section 10(23C) of the Income Tax Act 1961. Bombay Chartered Accountants Society Harnessing Talent and Providing Quality Service 7, Jolly Bhavan 2, Ground Floor, […]
Section 11: Property held for charitable purposes- Attempt to promote the trade, commerce and manufacturers of India without seeking to make profits for its members is charitable purpose -Denial of exemption is held to be not justified. [S. 2(15)] Case Name: Bombay Chamber of Commerce vs ITO (E) (ITAT Mumbai), Mumbai, Appeal No: ITA No. […]
Charitable Institutions which are registered under section 12AA of the Act can claim exemptions under section 11 of the Act when conditions are become fulfilled. While Section 11 is a general provision and applicable to all charitable institutions, Sec 10(23C) is a specific exemption provision applicable to certain Government and Non-Government educational institutions.
Budget 2020 proposes to digitize the process of registration for Charitable Trusts. Even the existing charitable institutions are required to apply for fresh registration under the new provisions of Sec 12AB of Income Tax Act. This article discusses the new provisions and procedure for registration under the new Section 12AB of the Act. In order […]
Mandatory CSR Registration Number, 80G and 12A Registration for NGOs to undertake CSR activities The concept of CSR (Corporate Social Responsibility) was introduced under the Companies Act, 2013 with the enforcement of Section 135 under the Act. Companies have certain responsibilities towards the stakeholders including the society in which it operates. Thus companies which cross […]
Delhi Police Welfare and Recreational Club Fund vs. CIT (ITAT Delhi) We have gone through the record in the light of the submissions made on either side. Insofar as the nature of activity of promotion of welfare and recreational activities of the police personnel, by its nature, is concerned, Ld. CIT(E) does not dispute whether […]
