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 Delhi restores a matter to CIT(E) for re-adjudication after rejecting a charitable trust’s 80G exemption due to their failure to respond to issued notices. Analysis of the case.
Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 relief provisions.
Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions.
The Supreme Court of India reaffirms charitable status for Water and Land Management Training and Research Institute, ensuring environmental protection.
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: Learn about relief of the poor, education, yoga, medical relief, preservation of the environment & more.
CESTAT Chennai held that the activity of fitting the power lens into the frames is merely results in assembly and hence the same doesn’t amount to manufacture. Accordingly, duty demand unsustainable in law.
CESTAT Allahabad held that service tax is leviable on services relating to health & fitness by way of teaching yoga and meditation under the category of ‘Health and Fitness Services’.
ITAT Bangalore held that denial of exemption under section 11 of the Income Tax Act unjustified as the primary activity of charitable trust is not run with profit motive. Accordingly, collection of money for micro financing in the form of interest on the loans advanced to the self help group members will not defeat the real object in order to deprive of the exemption.
ITAT Ahmedabad held that corpus donations are capital in nature and hence cannot be added to the income of the assessee and hence not taxable.
