Income Tax : CS 04 scrutiny examines whether trusts and NGOs validly claimed exemption in ITR-7 despite registration, approval, renewal, cancel...
CA, CS, CMA : A complete guide to the major Income Tax and GST compliance deadlines falling in July 2026, including ITR filing, TDS/TCS, GST ret...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : Suggestions to simplify 12AB and 80G renewal for charitable trusts, proposing conditional approvals, straight-through processing f...
Income Tax : Learn about the updated timelines for processing applications by trusts, funds, and institutions seeking tax exemption under secti...
Income Tax : Understand amendments to trust registration timelines under Income-tax Act section 12A. Learn how delays can be condoned by the Co...
CA, CS, CMA : Explore the challenges faced by Charitable Trusts due to delays or errors in submitting applications under Section 12A(1)(ac) of t...
Income Tax : ITAT Mumbai held that denial of Section 11 exemption does not bar consideration of deductions under Section 57(iii) after factual ...
Income Tax : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
Income Tax : ITAT held that the Commissioner must assess the genuineness of activities and charitable objects instead of rejecting registration...
Income Tax : ITAT Surat held that existing charitable institutions obtaining provisional approval for the first time should not be denied regul...
Income Tax : High Court restrained tax recovery, holding the Section 154 order prima facie breached natural justice by withdrawing exemption wi...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
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...
Explore the detailed analysis of CBDTs Circular No. 6/2023, providing clarifications on the registration and approval process for charitable and religious trusts under the Income-tax Act, 1961. Learn about key provisions, application deadlines, and implications for existing and new trusts, ensuring compliance with income tax regulations.
Explore a comprehensive comparative analysis of Sec 12AA/12AB and Sec 10(23C) registered trusts, institutions, and funds. Understand filing, conditions, exemptions, and violations under Income Tax laws. Stay informed for tax audit requirements.
Mere submission of amendment by post to Charity Commissioner cannot be considered to be due registration with Charity Commissioner. What is required to be shown by assessee is that amendment carried out to trust deed has been registered with Charity Commissioner and his approval has been obtained.
Understand the taxation of trusts in India, covering registered and unregistered trusts. Learn about relevant sections, exemptions, and tax implications for trusts and associations of persons (AOPs).
ITAT Mumbai held that provisions contained in section 56(2)(x) of the Income Tax Act are not attracted in case of the trust created for the benefit of the members / relatives of the settler who have been identified as beneficiaries.
ITAT Jaipur held that CIT(Exemption) not justified in denying the registration under section 12AB of the Income Tax Act as the foundation/ trust duly supplied all the desired information as per the query letter.
3 essential compliances for charitable organizations: registration under Section 12AB, GST, & FCRA. Know your Income Tax requirements!
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.
Get a sample format for the undertaking under section 12AB(4) of the Income Tax Act, 1961. This declaration assures that the trust is exclusively for charitable purposes, and its activities adhere to legal conditions. Download now for compliance assurance.
