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...
Delhi High Court dismisses Environics Trust’s writ challenging the IT Act reassessment order. Detailed analysis of the judgment and key legal arguments.
CESTAT Chandigarh held that Cost Accountant certificate certifying incidence of duty has not been passed on cannot be disregarded unless it is proved to be blatantly wrong.
ITAT Chennai held that corpus donations received by the Trust is income of the Trust when the Trust is not entitled for the exemption under section 11 of the Income Tax Act.
ITAT Mumbai held that merely because an assessee is registered u/s 80G of the Act will not automatically mean that such Trust cannot have any religious purpose and therefore cannot avail benefit of Section 115BBC(2)(b) of the Income Tax Act.
For issuance of notice under section 148A(b), department was duty-bound and was mandatorily required to provide all material information or inquiry conducted along with supporting documents to assessee as per the provisions of Section 148A, therefore, the matter was remitted back to the respondent to supply all the relied-upon documents on the basis of which the notice had been issued and pass the order strictly in accordance with the law as mandated in the provision itself.
Read about Kai Vaijanath Channappa Darde Vaidyakiya Research Centre’s appeal against the rejection of its registration u/s 12A(1)(ac) by CIT(E). ITAT Pune remits the matter for de-novo consideration.
The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.).
The Supreme Court of India reaffirms charitable status for Water and Land Management Training and Research Institute, ensuring environmental protection.
Learn about exemption possibilities under Sec. 10(23C) for registered educational or medical institutions and the need for Form 10B/10BB. Get clarity on tax implications.
Taxability of income of charitable or religious trusts: Learn about relief of the poor, education, yoga, medical relief, preservation of the environment & more.