Section 12AA

Assessment of Charitable and Religious Trusts and Institutions

Income Tax - Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institutions is key to understanding taxability of income & conditions for claiming exemptions. CBDT circulars & annexures included....

Section 115TD(3) of Income Tax Act Nightmare for Charitable Trusts

Income Tax - Explore the implications of Income Tax Act's Section 115TD(3) introduced by the Finance Act 2022 on charitable trusts. Learn about cancellation risks, tax liabilities, and potential challenges....

Tax Treatment of Gifts Received By an Individual or HUF: Rules & Exceptions

Income Tax - Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 relief provisions....

Whether 12AA/12AB Entities Need to file Form 10B/10BB for 10(23C) Exemption?

Income Tax - 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

Income Tax - Taxability of income of charitable or religious trusts: Learn about relief of the poor, education, yoga, medical relief, preservation of the environment & more....

Request to relax confusion created in new registration regime for charitable organizations

Income Tax - Karnataka State Chartered Accountants Association made a representation on 31.10.2022 to Minister of Finance Smt. Nirmala Sitharaman and requested to simplify the confusion created in the new registration regime for charitable organizations and relax compliances under new regime for registration/approval of trusts, institutions, funds, un...

CAG report on Income Tax Exemptions to Charitable Trusts & Institutions

Income Tax - CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilization of foreign contribution, inadequacy of survey of educational Trusts, absence of provision for disclosure of TDS in the audit report, etc....

Representation on Issues in Registration of Charitable institutions due to order of CITs

Income Tax - 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 Se...

Improper drastic changes in Income tax provisions relating to Trusts/NGOs

Income Tax - CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala Sitharaman and brought to her attention improper Drastic changes made in Income tax provisions relating to Charitable and Religious Trusts (Trusts/NGOs. He highlighted provisions relating to putting severe restr...

Deferment for Approval/ Registration of Charitable Trusts & Exempt Institutions

Income Tax - Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Income Tax Act, 1961 till 01st October,2020 The Finance Act, 2020 has introduced certain new compliance burdens on Charitable Trusts and Exempt Institutions. The Budget 2020 has amended certain provisions of the Inc...

TDS Deduction on donation Doesn’t Disqualify NGO from Sections 11 Exemption: Delhi HC

Aroh Foundation Vs Commissioner of Income Tax Exemption & Anr. (Delhi High Court) - Delhi High Court ruling: NGO retains tax exemptions under Sections 11 & 12 despite donor TDS deduction. Analysis & implications of Aroh Foundation case....

Kerala HC refuses to intervene in Income Tax proceeding initiated under Section 148  

St. John The Baptist Church Vs ITO (Kerala High Court) - In a setback for St. John The Baptist Church, Kerala High Court refuses to intervene in proceedings initiated under Section 148 of Income Tax Act. Full analysis here....

ITAT Corrects Misinterpretation of Section 80G(5) Proviso by CIT(E): Assessee’s Timely Application for Final Registration Upheld

West Bengal Welfare Society Vs CIT(Exemption) (ITAT Kolkata) - Dive into the ITAT Kolkata order on West Bengal Welfare Society's appeals against rejection of registrations under sections 12AA and 80G of the Income Tax Act....

Section 12AB Registration Rejection: ITAT allows filing of Form 10A

LTCL Palaniappa Charities Trust Vs CIT (ITAT Chennai) - ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside. ...

Section 69A: Cash Deposits during Demonetization not Taxable if Source Explained

Amikrupa Education Trust Vs ITO (ITAT Ahmedabad) - Ahmedabad ITAT allows Amikrupa Education Trust's appeal, ruling cash deposits during demonetization with explained sources not taxable under Section 69A....

Clarification regarding Form No 10AC issued till the date of this Circular

Circular No. 11 of 2022-Income Tax - (03/06/2022) - PCIT or CIT can examine if there is any specified violation by the trust or institution registered or provisionally registered under relevant clauses of sub-section (1) of section 12AB or sub¬section (1) of section 12AA....

CBDT notifies New Income Tax Rules & Forms for Trust & NPOs

Notification No. 19/2021-Income Tax/G.S.R. 212(E). - (26/03/2021) - CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. All institutions, funds etc covered under clause (i) and (iv) of first proviso to section 10(23C), fifth proviso to section 35(1), clause (i) and (iv) of first p...

New Procedure for registration, approval U/s.10(23C), 12AA, 35 & 80G deferred

Release ID: 1622387 - (09/05/2020) - CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be deferred to 1st October, 2020. Accordingly, the entities approved/ registered/ notified under section 10(23C), 12AA, 35 and 80G of the Income-tax Act, 1961 (the Act) would b...

Bombay Public Trusts (Second Amendment) Rules, 2019

No. BPT-1117/C.R. 59/Desk XV - (15/05/2019) - These rules may be called the Bombay Public Trusts (Second Amendment) Rules, 2019. 2. In rule 1 of the Bombay Public Trusts Rules, 1951, in sub-rule (1) i.e., in the short title and throughout the principal Rules, for the words and figures Bombay Public Trusts Rules, 1951 the words Maharashtra Publi...

Time allowed for filing of return of income by Trust claiming exemption

F.No. 173/193/2019-ITA-I - (23/04/2019) - 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 income within the time allowed u/s 139 of the Act. Accordingly, orders u/s 143(1)(a) in those cases in which demand has been raised on this issue may please be rectified....

Recent Posts in "Section 12AA"

TDS Deduction on donation Doesn’t Disqualify NGO from Sections 11 Exemption: Delhi HC

Aroh Foundation Vs Commissioner of Income Tax Exemption & Anr. (Delhi High Court)

Delhi High Court ruling: NGO retains tax exemptions under Sections 11 & 12 despite donor TDS deduction. Analysis & implications of Aroh Foundation case....

Kerala HC refuses to intervene in Income Tax proceeding initiated under Section 148  

St. John The Baptist Church Vs ITO (Kerala High Court)

In a setback for St. John The Baptist Church, Kerala High Court refuses to intervene in proceedings initiated under Section 148 of Income Tax Act. Full analysis here....

ITAT Corrects Misinterpretation of Section 80G(5) Proviso by CIT(E): Assessee’s Timely Application for Final Registration Upheld

West Bengal Welfare Society Vs CIT(Exemption) (ITAT Kolkata)

Dive into the ITAT Kolkata order on West Bengal Welfare Society's appeals against rejection of registrations under sections 12AA and 80G of the Income Tax Act....

Section 12AB Registration Rejection: ITAT allows filing of Form 10A

LTCL Palaniappa Charities Trust Vs CIT (ITAT Chennai)

ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside. ...

Section 69A: Cash Deposits during Demonetization not Taxable if Source Explained

Amikrupa Education Trust Vs ITO (ITAT Ahmedabad)

Ahmedabad ITAT allows Amikrupa Education Trust's appeal, ruling cash deposits during demonetization with explained sources not taxable under Section 69A....

Funds Held in Fiduciary Capacity by Trust cannot be Treated as Income: ITAT Delhi

DCIT Vs Sewa-THDC (ITAT Delhi)

Delhi ITAT's landmark decision: Funds received by charitable trusts under Swachh Bharat Abhiyan in a fiduciary capacity are not considered income. Details inside....

ITAT Pune Remands Trust Registration Case for Further Review

Janata Gram Vikas Pratisthan Vs CIT (Exemption) (ITAT Pune)

ITAT Pune directs reconsideration of trust registration under Section 12AA, emphasizing compliance with welfare legislation principles and natural justice....

CIT Cannot Cancel Trust Registration for Settlor’s Use Clause or Mutual Fund Investments

S.M. Batha Education Trust Vs CIT (Exemption) (ITAT Pune)

ITAT Pune overturns CIT (Exemption)'s decision, allowing S.M. Batha Education Trust to retain its registration under Section 12AB, affirming its charitable nature....

No Time Limit for Existing Charitable Trusts to File Form 10AB: ITAT Pune

T B Lulla Charitable Foundation Vs CIT Exemption (ITAT Pune)

ITAT Pune held that time limit 6 months in filing of an application in Form 10AB for approval u/s 80G doesn’t apply to those trust/institutions which have already started charitable activities before obtaining Provisional Registration....

Assessment of Charitable and Religious Trusts and Institutions

Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institutions is key to understanding taxability of income & conditions for claiming exemptions. CBDT circulars & annexures included....

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