Income Tax : The article explains how procedural lapses in trust registration renewal can activate Section 115TD and impose heavy tax on accret...
Income Tax : The Income-tax Department intensified scrutiny of charitable entities after finding high surplus margins, premium pricing, and com...
Goods and Services Tax : The content addresses key statutory deadlines under income tax and GST laws for May 2026. It highlights due dates and compliance r...
Income Tax : The new law replaces time-bound approvals with continuous compliance monitoring for charitable entities. Registration now survives...
Income Tax : The approach differs for pending, rejected, or delayed applications. Trusts must choose the right remedy based on procedural posit...
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 : The Tribunal condoned a 60-day delay after accepting explanations relating to migration of the ITAT portal and the death of a fami...
Income Tax : ITAT Mumbai held that the Commissioner of Income Tax (Exemptions) cannot impose independent or contingent conditions while grantin...
Income Tax : ITAT Bangalore held that the Income Tax Act does not bar a trust from filing a fresh Section 80G application merely because an ear...
Income Tax : The Calcutta High Court upheld rejection of exemption under Section 12AB after finding that proposed microfinance activities invol...
Income Tax : The ITAT held that the institution’s activities as a seminary imparting religious training to priests established its religious ...
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...
Mandatory Registrations for NGOs after 01.04.2021 – Form CSR-1, Section 80G and Section 12AB of Income Tax Act As per Notification issued by Ministry of Corporate Affairs dated 22nd January 2021, it is mandatory for all NGO’s which wants to raise CSR Funding to enrol with MCA w.e.f 01/04/2021 to get CSR Funding. And Filing […]
Fresh application of registration for existing Trusts/Institutions under section 12AB w.e.f. 1st April, 2021 To update register of Charitable and Religious Trusts, the Finance Minister of our Country, Smt. Nirmala Sitaraman had presented a proposal in Union Budget 2020, to make substantial amendments for granting registration to the Charitable / Religious Trusts, Institutions etc. Under […]
Notification no. 19/2021 dated 26/03/2021 issued by CBDT, pertaining to procedure for registration of fund/trust/charitable institutions etc. ➢ Notification Substitutes/Amends/Inserts rules related to registration of fund/trust/charitable institutions. All NGOs that are already APPROVED under Section 12A/12AA and Section 80G as of this date & all such NGOs who shall be seeking PROVISIONAL REGISTRATIONS with the […]
Re-validation of existing Tax Exemption Certificate under new Section 12AB of Income Tax Act, 1961 w.e.f. April 1, 2021 The Central Board of Direct Taxes, by Notification No. 19/2021-Income Tax Dated- 26th March, 2021, amended the Income Tax Rules, 1962 called as Income-tax (6th Amendment) Rules, 2021, pertaining to procedure for registration of fund/ trust/charitable […]
Registration U/s – 80G of Income Tax Act, 1961 – Latest Process & Compliances Dear friends, as we all know, NGOs are integral part of our society. There are many NGO in India which are working for the social welfare of society. During lockdown period they have played a very important role in serving the […]
1.0 Charity registration granting donation deduction u/s 80G of the Income Tax Act (‘IT Act’) to the donors (Rule 11AA of the Income Tax Rules, 1962 (‘IT Rules’): 1.1 Requirement for approval of institution or fund under section 80G(5)(vi) of the IT Act i.e. for granting donation deduction u/s 80G of the IT Act to […]
CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. All institutions, funds etc covered under clause (i) and (iv) of first proviso to section 10(23C), fifth proviso to section 35(1), clause (i) and (iv) of first proviso to section 80G(5) and sub-clause (i) and (vi) of section […]
Fresh application for existing Charitable / Religious Trusts, Institutions etc. under new Section 12AB of Income Tax Act, 1961 w.e.f. April 1, 2021 The Finance Minister of India had presented the Union Budget 2020 wherein it was proposed to make substantial amendments for granting exemptions to the Charitable / Religious Trusts, Institutions etc. Under the […]
Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) We are of the opinion that in the present case the ld. Pr. CIT(C) has found or made allegation or objection of diversion or mis appropriations of funds and not filling the Audit report and ITR, if any only in A.Y. 2014-15 to 2016-17 & not in […]
