Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
Income Tax : Learn about Income Tax Audit Form 10B & 10BB for charitable trusts, recent changes, filing deadlines, and compliance under Section...
Goods and Services Tax : The 54th GST Council recommends RCM for renting of commercial property by unregistered persons to registered entities, raising var...
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 : 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 : ITAT Pune directs CIT(Exemption) to reconsider Shaan Education Society's tax exemption denial, citing a lack of proper hearing....
Income Tax : ITAT Cochin holds voluntary contributions to unregistered charitable trust taxable. Lack of 12AA registration means no Sec 11 exem...
Income Tax : ITAT Pune allows Sai Sanskar Trust's appeal against CIT(E) rejection of 12AA registration due to incorrect form section, granting ...
Income Tax : ITAT Mumbai: Valid 12AA registration bars AO from denying Sec 11 exemption by re-examining charitable objectives. Key ruling expla...
Goods and Services Tax : Kerala High Court held that college, managed by an education trust, engaged in supplying food to students through canteen is requi...
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...
Punjab and Haryana High Court held that benefit of section 12AA of the Income Tax Act cannot be denied to the institute that is duly registered as educational trust and earning in utilised for the purpose of advancement of education.
Assessee had claimed a tax exemption under Section 10(23C)(vi) which allowed tax exemptions for educational institutions provided certain conditions prescribed by the Chief Commissioner of Income Tax (CCIT) were met.
ITAT Bangalore held that filing of form 10B is only directory and the same is not mandatory. Hence denial of exemption under section 11 of the Income Tax Act for delay in filing of form 10B unjustified.
ITAT Delhi held that not filing of Audit Report in Form 10B alongwith the return of income is a procedural omission only and cannot be impediment in law in claiming the exemption under section 11 of the Income Tax Act.
Delhi ITAT rules that the requirement of filing Form 10B is procedural, allowing Section 11 exemption for an educational trust despite delayed filing.
n Legal Initiative For Forest And Environment (LIFE Trust) Vs PCIT (ITAT Delhi), the stay application was denied as the test for irreparable loss was not met.
Punjab and Haryana High Court held that the construction of Public Library would also form part of charitable function and any work done with the same purpose is eligible for granting exemption under Section 80G of the Income Tax Act, 1961.
ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the life style of the human beings and therefore is eligible for approval under section 80G of the Income Tax Act.
Associated Chambers of Commerce And Industry of India Vs Deputy Commissioner of Income Tax & Ors. (Delhi High Court) Delhi High Court held that action of reassessment merely on the allegation of delayed digital filing of Form 10 without based on the formation of an opinion that income chargeable to tax has escaped assessment. Facts- […]
Department had challenged the finding of Tribunal on the issue as to whether the income received by the Kerala Cricket Association during the assessment years 2010-11, 2012-13, and 2013-14 would partake of the nature of exempted income going by the provisions of Section 2(15) of the Act
