Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
Income Tax : Understand the income of trusts or institutions, including registration, exemptions, and FAQs. Learn about Sections 12A, 12AA, and...
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 : Learn the eligibility criteria and step-by-step process for registering a charitable trust in India. Discover the significance, ad...
Income Tax : Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institu...
Income Tax : Explore the implications of Income Tax Act's Section 115TD(3) introduced by the Finance Act 2022 on charitable trusts. Learn about...
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 : Read the full judgment of Calcutta High Court dismissing IT Depts appeal against Gobind Ram Goel Charitable Trust's 12AA(3) regist...
Income Tax : Explore the Delhi High Court's judgment on ITSC's conclusive nature for AY, assessing reassessment under Section 148 of the Income...
Corporate Law : Read about Allahabad High Court's ruling directing Saharanpur Development Authority to reconsider exemption under Income Tax Act f...
Income Tax : Explore the detailed analysis of the Active Securities Ltd Vs ITO (ITAT Delhi) case regarding the taxation of rental income from l...
Income Tax : ITAT Kolkata grants exemption registration to Income Tax Bar Association Calcutta, overturning CIT's decision. Read the full detai...
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...
ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside.
Ahmedabad ITAT allows Amikrupa Education Trust’s appeal, ruling cash deposits during demonetization with explained sources not taxable under Section 69A.
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 directs reconsideration of trust registration under Section 12AA, emphasizing compliance with welfare legislation principles and natural justice.
ITAT Pune overturns CIT (Exemption)’s decision, allowing S.M. Batha Education Trust to retain its registration under Section 12AB, affirming its charitable nature.
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.
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.
Explore the Kerala High Court’s decision upholding Section 148A(d) order against St. John The Baptist Church for accepting and repaying cash loans, deemed as income escape.
Charitable Registration cannot be cancelled even if gross receipts exceeds threshold limit prescribed in proviso u/s 2(15) of Income Act, 1961 and For that particular year alone, the assessee’s activities would not to be construed as charitable activities and assessee would be subjected to tax as a normal business assessee.
Bombay High Court quashes reopening proceedings in Shanmukhananda Fine Arts vs Dy. Director of Income Tax, citing income already declared in the ITR. Detailed analysis.
