Section 80G

Form 10BD For Trust & Research Institutes | Form 10BE Certificate for Donors

Income Tax - Form 10BD For Trust & Research Institutes CBDT came out with a Notification no. 19/2021 dated 26th March 2021. New notification is Applicable from the FY 2021-22. This notification is applicable to all Institution who registered u/s 80G and Research Institutes registered u/s 35 of THE INCOME TAX ACT. The Due date for filing the form...

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Statement & Certificate of Section 80G Donation- Form 10BD wef FY 2021-2022

Income Tax - Section 80G of the Income Tax Act, 1961 allows a deduction to the donors for the amount donated by them to recognized trusts & institutions. Until the F.Y. 2020-21, there was no cross mechanism available with the Income Tax Department to check the validity of deduction claims u/s 80G made by any donor. The claims of […]...

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Donation Statement in Form 10BD & Donation Certificate in Form No. 10BE

Income Tax - Statement of Donation received by the Charitable Instruction or fund in Form 10BD and Certificate of donation in Form No. 10BE under Income Tax Act 1961 Applicable From 01.04.2021 Introduction: – As we are aware, The income tax department allowed deduction u/s 80G of the Income Tax Act based on the claim made by the […]...

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Who has to file Form No.10AB: Why and How

Income Tax - The Finance Act, 2020 has introduced a new provision as a result of which all existing trusts have to undergo re-registration under Section 12A and 80G and Re-approval U/s 10(23C) and Section 35(1). To give effect to this, new section 12AB has been inserted with effect from 1st April, 2020 dealing with the procedure of […]...

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Taxation Aspects of Corporate Social Responsibility (CSR)

Income Tax - Section 135 of the Companies Act, 2013 Every company -having net worth of 500 crore or more, or -turnover of 1000 crore or more, or -a net profit of 5 crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more Directors, […]...

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Improper drastic changes in Income tax provisions relating to Trusts/NGOs

Income Tax - CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala Sitharaman and brought to her attention improper Drastic changes made in Income tax provisions relating to Charitable and Religious Trusts (Trusts/NGOs. He highlighted provisions relating to putting severe restr...

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Deferment for Approval/ Registration of Charitable Trusts & Exempt Institutions

Income Tax - Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Income Tax Act, 1961 till 01st October,2020 The Finance Act, 2020 has introduced certain new compliance burdens on Charitable Trusts and Exempt Institutions. The Budget 2020 has amended certain provisions of the Inc...

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Donation to PM CARES Fund to be fully exempt under section 80G

Income Tax - The finance minister, Nirmala Sitharaman, at a press conference dated 24th March 2020 has announced that taxpayers can complete their tax-saving exercise and statutory compliances for FY 2019-20 till June 30, 2020. The earlier deadline was March 31, 2020. It’s a big relief to the Taxpayers given by the government. But still, it has a [&...

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Publicise Income Tax Exemption to PM's Relief Fund – PMO

Income Tax - Prime Minister's National Relief Fund (PMNRF) was constituted in January, 1948 to assist displaced persons from Pakistan. The resources of the PMNRF are now utilized primarily to render immediate relief to the affected families of those killed/ injured in natural calamities like floods, cyclones and earthquakes, etc, or in the major accid...

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CBDT clarification on tax benefits for NGOs and charitable institutions

Income Tax - The government has clarified that institutions like NGOs, charitable institutions and others who are eligible for tax benefits and can also issue tax benefit receipts to those paying donations would not need to renew their status unless it is withdra...

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Starting of activities of trust is not a condition precedent for grant of Section 80G approval

Malla Foundation Vs CIT (Exemption) (ITAT Bangalore) - Malla Foundation Vs CIT (Exemption) (ITAT Bangalore) The CIT(E) has refused to grant approval u/s 80G of the Act primarily for the reason that the assessee has not produced the necessary proof as regards the activities of the assessee-trust and in absence of the same it is not possible to verify the...

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Tax Exemption allowed to Charitable Society using its profit for charitable activities

PCIT Vs Servants of People Society (Delhi High Court) - PCIT Vs Servants of People Society (Delhi High Court) A perusal of the paper book reveals that the assessee/society is running a printing press and publishing a newspaper. The profit so generated is used for charitable purposes and apparently there is no profit motive in the activities of the assess...

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Exemption from tax allowable on donations to Shirmoni Gurdwara Parbandhak Committee

Shirmoni Gurdwara Parbandhak Committee Vs CIT (ITAT Amritsar) - Shirmoni Gurdwara Parbandhak Committee Vs CIT (ITAT Amritsar) Conclusion: Donations made to the Shiromani Gurdwara Prabandhak Committee, which controlled the functioning of most of the historical gurdwaras in Punjab, Haryana and Himachal Pradesh, would be eligible for tax exemption as assessee’...

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Trust registration Cancellation justified if Trust receives Bogus Donations: SC

CIT (Exemptions) Vs Batanagar Education And Research Trust (Supreme Court of India) - CIT (Exemptions) Vs Batanagar Education And Research Trust (Supreme Court of India) Supreme Court Orders Cancellation of Registration in Case of Misuse of Status Conferred under Section 12AA and 80G In this case donations were received by way of cheques out of which substantial money was ploughed ba...

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Addition justified for Bogus Donation received by Educational Trust

Brijbasi Education And Welfare Society Vs PCIT (Delhi High Court) - Addition made by AO against Educational Trust on account ofdonations were found to be bogus  was justified as  assessee failed to discharge the onus of proof cast upon it and no attempt was made to produce credible material to corroborate the transactions or to explain the contradictory evidence t...

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CBDT extends last date for filing of Form No.10AB

Circular No. 8/2022-Income Tax - (31/03/2022) - CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the IT Act,1961. The application for registration or approval in Form No. 10AB can be filed upto 30th September, 2022. *** CBDT extends last date for filing of Form No.10AB...

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CBDT notifies ‘Maa Umiya Temple’ under Section 80G(2)(b)

Notification No. 36/2021-Income Tax/S.O.1698(E) - (23/04/2021) - CBDT vide Notification No. 36/2021-Income Tax Dated:  23rd April, 2021 notifies ‘Maa Umiya Temple managed by Vishv Umiya Foundation at Jaspur, Ahmedabad’ to be place of artistic importance and a place of public worship of renown throughout the state of Gujarat State for the purposes of ...

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New Procedure for registration, approval U/s.10(23C), 12AA, 35 & 80G deferred

Release ID: 1622387 - (09/05/2020) - CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be deferred to 1st October, 2020. Accordingly, the entities approved/ registered/ notified under section 10(23C), 12AA, 35 and 80G of the Income-tax Act, 1961 (the Act) would b...

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CBDT notifies Shri Ram Janmabhoomi Teerth Kshetra U/s. 80G(2)(b)

Notification No. 24/2020-Income Tax [S.O. 1434(E)] - (08/05/2020) - CBDT notifies SHRI RAM JANMABHOOMI TEERTH KSHETRA to be place of historic importance and a place of public worship of renown for the purposes of section 80G(2)(b) from the year F.Y. 2020-2021, relevant to the Assessment Year 2021-2022....

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CBDT allows donations to PM cares fund through form 16

F. No. 178/7/2020-ITA-1 - (09/04/2020) - Submission of certificate for claiming deductions U/s. 80G of the Income-tax Act, 1961 in respect of donation made by an employee to Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND)...

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Recent Posts in "Section 80G"

Form 10BD For Trust & Research Institutes | Form 10BE Certificate for Donors

Notification no. 19/2021 INCOME TAX ACT 26/03/2021

Form 10BD For Trust & Research Institutes CBDT came out with a Notification no. 19/2021 dated 26th March 2021. New notification is Applicable from the FY 2021-22. This notification is applicable to all Institution who registered u/s 80G and Research Institutes registered u/s 35 of THE INCOME TAX ACT. The Due date for filing the form...

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Posted Under: Company Law |

Statement & Certificate of Section 80G Donation- Form 10BD wef FY 2021-2022

Section 80G of the Income Tax Act, 1961 allows a deduction to the donors for the amount donated by them to recognized trusts & institutions. Until the F.Y. 2020-21, there was no cross mechanism available with the Income Tax Department to check the validity of deduction claims u/s 80G made by any donor. The claims of […]...

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Posted Under: Company Law |

Donation Statement in Form 10BD & Donation Certificate in Form No. 10BE

Statement of Donation received by the Charitable Instruction or fund in Form 10BD and Certificate of donation in Form No. 10BE under Income Tax Act 1961 Applicable From 01.04.2021 Introduction: – As we are aware, The income tax department allowed deduction u/s 80G of the Income Tax Act based on the claim made by the […]...

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Posted Under: Company Law |

Who has to file Form No.10AB: Why and How

The Finance Act, 2020 has introduced a new provision as a result of which all existing trusts have to undergo re-registration under Section 12A and 80G and Re-approval U/s 10(23C) and Section 35(1). To give effect to this, new section 12AB has been inserted with effect from 1st April, 2020 dealing with the procedure of […]...

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Posted Under: Company Law |

Taxation Aspects of Corporate Social Responsibility (CSR)

Section 135 of the Companies Act, 2013 Every company -having net worth of 500 crore or more, or -turnover of 1000 crore or more, or -a net profit of 5 crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more Directors, […]...

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Posted Under: Company Law |

CBDT extends last date for filing of Form No.10AB

Circular No. 8/2022-Income Tax 31/03/2022

CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the IT Act,1961. The application for registration or approval in Form No. 10AB can be filed upto 30th September, 2022. *** CBDT extends last date for filing of Form No.10AB for seeking registration […]...

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Starting of activities of trust is not a condition precedent for grant of Section 80G approval

Malla Foundation Vs CIT (Exemption) (ITAT Bangalore)

Malla Foundation Vs CIT (Exemption) (ITAT Bangalore) The CIT(E) has refused to grant approval u/s 80G of the Act primarily for the reason that the assessee has not produced the necessary proof as regards the activities of the assessee-trust and in absence of the same it is not possible to verify the genuineness of the […]...

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New Procedure for Registration u/s 12A & 80G – Trust

New Procedure for Registration – Section 12AB with effect from 1st April, 2021 (For this purpose, CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration) Sec 12A – Prescribes the conditions ...

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Posted Under: Company Law |

Condition to treat Voluntary Contributions for renovation/repair of temples, mosques, gurudwaras, churches as corpus donations

Voluntary Contributions for the renovation and repair of temples, mosques,  gurudwaras, churches etc notified under clause (b) of sub-section (2) of section 80G i) Donations for the renovation and repair of temples, mosques, gurudwaras, churches etc notified under clause (b) of sub-section (2) of section 80G of the Act are received for s...

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Posted Under: Company Law |

How to claim Section 80G deduction if same not reflected in Pre-filled ITR

WHAT TO DO WHEN YOU NOT FIND THE ORGANISATION YOU HAVE DONATED FOR CLAIMING DEDUCTION U/S. 80G OF INCOME TAX ACT,1961. The Central Government has mandated registration of Charitable Institutions  starting this financial year, with the Income Tax Department, which will in turn assign a unique registration number. The government wants to a...

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Posted Under: Company Law |

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