Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
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Income Tax : Karnataka State Chartered Accountants Association made a representation on 31.10.2022 to Minister of Finance Smt. Nirmala Sitharam...
Income Tax : CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilizati...
Income Tax : BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in re...
Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...
Income Tax : Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Incom...
Income Tax : Punjab and Haryana High Court held that the construction of Public Library would also form part of charitable function and any wor...
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 : Associated Chambers of Commerce And Industry of India Vs Deputy Commissioner of Income Tax & Ors. (Delhi High Court) Delhi Hig...
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Goods and Services Tax : Kerala High Court held that the provisions of Section 7(aa) of the Central Goods and Service Tax Act, 2017 (CGST Act) will have pr...
Income Tax : PCIT or CIT can examine if there is any specified violation by the trust or institution registered or provisionally registered und...
Income Tax : CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable instituti...
Income Tax : CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be def...
Income Tax : These rules may be called the Bombay Public Trusts (Second Amendment) Rules, 2019. 2. In rule 1 of the Bombay Public Trusts Rules,...
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...
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, universities, hospitals etc. Relevant Text of the representation is as follows:- […]
Role of PCIT while according registration under section 12A is only to make himself satisfied about genuineness of activities to be carried out by assessee trust and compliance of such requirement of any other law for the time being in force by trust or institution material to achieve its object and then to accord registration.
ITAT Chandigarh held that registration u/s 12AA of the Income Tax Act granted as the primary objects of the assessee society are aimed at the advancement of the object of general public utility within the meaning of section 2(15) of the Act
ITAT Hyderabad held that payment of remuneration to the trustees could result into disallowance of excess expenditure and the same cannot be a ground to cancel the registration of trust
Rule 17A of Income Tax Rules, 1962 clearly explained that self certified copies of documents are sufficient for the claiming exemption under section 12AA
Assessee is facilitating the poor people to access to housing credit, which otherwise would not be available to them due to mortgage requirements etc. The only source of funding for the assessee is borrowings and the donations are almost negligible. In such a case, the activity is nothing but a mere-lending activity.
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.
Joharimal High School Vs ITO (ITAT Cuttack) Undisputedly rather admittedly, the assessee does not enjoy registration u/s.12AA of the Act and as per e-return filed before the Bench, as per column 3, the assessee has shown receipt of income of Rs.97,10,521/- and as per column 4(i), amount applied during the previous year or expenditure incurred […]
C. R. Dadhich Memorial Society Vs CIT(E) (ITAT Delhi) Training means & constitutes a basic concept in human resource development. It is concerned with developing a particular skill to a desired standard by instruction and practice. Training is a highly useful tool that can bring a person into a position where they can do their […]
ITAT Held that at the stage of granting registration u/s. 12AA of the Act, authority cannot examine whether the conditions for availing exemptions under Section 11 of the Act are fulfilled or not.
