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...
CIT (Exemptions) Vs Addor Foundation (Gujarat High Court) Effect of Non Passing of order within six months — Non-disposal of an application for registration by granting or refusing registration before expiry of six months as provided u/s 12AA(2) would not result in a demand grant of registration. It was held that deemed registration cannot be […]
Amendment of sub-section (7) of section 11 to allow entities holding registration under section 12A/12AA to apply for notification under clause (46) of section 10 Section 11 of the Act provides for grant of exemption in respect of income derived from property held under trust for charitable or religious purposes to the extent to which […]
Budget 2020: Exemption Under Section 11 AND Section 10(23C) And Approval Under Section 80G For Charitable / Religious Etc. Trusts, Institutions Etc. – An Analysis Of Proposed Amendments Introduction: The Finance Bill, 2020 has proposed to make substantial changes regarding provisions for granting exemptions to the charitable / religious trusts, institutions etc. U/s. 11 of […]
CIT Vs Mumbai Metropolitan Region Development Authority (Bombay High Court) In the instant case Tribunal discussed the objects of the assessee i.e.,the respondent and returned a finding of fact that the entire objects are charitable in nature having regard to the meaning of the expression “Charitable purpose” as defined in the Act. Tribunal referred to […]
Finance Act’2017 had made some major changes relating to Charitable and religious trusts. In this Article we have discussed five major amendments which are affecting Charitable and religious trusts.
Trust, Society and Section 8 Company can seek registration u/s 12A to claim exemption under Income Tax Act’ 1961, if certain conditions are satisfied. Section 12A deals with registration of trust and section 12AA deals with procedure for registration of trust.
Learn about the new rules and application process for the registration of charitable or religious trusts. Stay updated with the latest amendments.
Important Points related to Section 80G of Income Tax Act, 1961: It is important to note that when registration is granted under section 12A, it does not mean that section 80G approval has been given i.e. registration under section 12A will not provide automatic approval under section 80G. It has to be applied separately.
As we all are aware that the existing Form No. 10A has been substituted vide CBDT Notification No.10/2018 dated 19/02/2018. Also, rule 17A has been substituted by the Income-tax (First Amendment) Rules, 2018, w.e.f. 19-2-2018. This article will contain the details regarding Form 10A, documents require for registration, e-filing of Form 10A and verification of Form […]
As per Notification No. 10/2018-Income Tax issued by the CBDT as on 19.02.2018. Charitable or religious trust or institution can apply for registration under section 12A online. For registration of Charitable or religious trust or institution require to file Form-10A. Document Require for Online registration:- 1. Certified copy of the instrument under which the trust/institution was […]
