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Income Tax : The document highlights situations where exemptions under Sections 11 and 12 can be withdrawn, including benefits provided to inte...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 now scrutinize NGO financial statements before granting or renewing registration. Proper documentation and clear chari...
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...
Budget 2020: Concerns / Issues As To Proposed Provisional Registration/ Approval Under Section 12AB, Section 10(23C) & Section 80G Introduction : It has been proposed under the Finance Bill, 2020 that w.e.f. 01st June, 2020 the registration / approval to the charitable / religious institutions, educational institutions, medical institutions etc. will be granted for the […]
Finance Minister presented the Union Budget 2020 wherein she proposed substantial amendments for granting exemptions to the charitable / religious trusts institutions etc. Under the new tax regime, she proposed to amend Section 10(23C), Section 11, Section12A, Section12AA, Section 80G and proposed to insert a new Section 12AB. All these amendments are proposed to be made w.e.f. June 01, 2020.
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.
