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Income Tax - Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act. All donations are not eligible for deduction under section 80G. Only donations made to prescribed funds qualify as a deduction....
Read MoreIncome Tax - Important Points related to Section 80G of Income Tax Act, 1961: It is important to note that when registration is granted under section 12A, it does not mean that section 80G approval has been given i.e. registration under section 12A will not provide automatic approval under section 80G. It has to be applied separately....
Read MoreIncome Tax - Section 2(15) defines Charitable Purpose and sections 11, 12, 12A, 12AA and 13 of the Income –tax Act, are the main sections that deal with scheme of taxation exemption in respect of income of charitable or religious trusts/institution....
Read MoreIncome Tax - Trust, Society and Section 8 Company can seek registration u/s 12A to claim exemption under provisions of Income Tax Act’1961, if certain conditions are satisfied. Section 12A deals with registration of trust and section 12AA deals with procedure for registration of trust....
Read MoreIncome Tax - Act before March-end, so that you don’t have to regret in July! So many clients put their palms on their head, when it is the time to pay taxes and file return, in July. Taxes have already fired at them, they have done nothing to save themselves against the tax shots....
Read MoreIncome 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...
Read MoreIncome 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...
Read MoreIncome Tax - The Income Tax Act, 1961, before amendment by Finance Act, 2010, allowed a weighted deduction of 125% for any sum paid out of business income to a university, college or other institution in case the amount is used for scientific research. Similar weighted deduction of 125% was also allowed for any sum paid out of business income to a nat...
Read MoreBatra Hospital Employees Union Vs. Batra Hospital & Medical Research (Delhi High Court) - Batra Hospital Employees Union Vs. Batra Hospital & Medical Research (Delhi High Court) It would be hazardous to presume that every organization, which is certified under Section 80-G of the Income Tax Act, would, of necessity, be entitled, ipso facto, to immunity from the applicability of the P...
Read MoreMattapalli Chalamayya Charitable Trust Visakhapatnam Vs CIT (ITAT Visakhapatnam) - Mattapalli Chalamayya Charitable Trust Visakhapatnam Vs CIT (ITAT Visakhapatnam) If the activities of the trust are genuine, at the stage of commencement of institution, registration has to be granted automatically and claim u/s 80G of the Act can be followed with grant of registration. Ld. Commissi...
Read MoreCIT Vs. Gulab Devi Memorial Hospital (Punjab & Haryana High Court) - In this case Punjab & Haryana High Court upheld the The law laid down in Visvesvaraya Technological University vs. ACIT 384 ITR 37 (SC) that generation of surplus is not fatal to the grant of exemption under section 10(23C)(vi)(via)/ 80G of Income Tax Act, 1961 if such surplus is utilized fo...
Read MoreHari Om Sewa Dal Vs CIT(Exemptions) (ITAT Delhi) - Hari Om Sewa Dal Vs. CIT(Exemptions)-ITAT Delhi- We find from the order of the Commissioner of Income Tax (Exemptions) that the registration under Section 12AA of the Act was denied to the appellant society solely on the ground that the appellant society had been claiming...
Read MoreGovats Foundation Vs ITO (Exemption) (ITAT Hyderabad) - In the case of Govats Foundation v ITO (Exemption) it is held by ITAT-Hyderabad that the approval u/s 80G(5) could be granted to charitable institution if the certificate granted u/s 12A has not been withdrawn....
Read MoreNotification No. 87/2017-Income Tax - (27/10/2017) - Central Government hereby notifies Arulmigu Kapaleeswarar Thirukoil, Mylapore, Chennai, to be place of historic importance and a place of public worship of renown throughout the state of Tamil Nadu for the purposes of the said section....
Read MoreNotification No. 41/2017-Income Tax - (29/05/2017) - Central Governmentnotifies Ariyakudi Sri Srinivasa Perumal Temple, Kottivakkam, Chennai,to be place of historic importance and a place of public worship of renown throughout the state of Tamil Nadu for the purposes section 80G....
Read MoreF.No. DIT(S)-III/2015-16/e-Filing Txn/ - (23/09/2016) - DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi – 110055 Dated : 23-Sep-2016 F.No. DIT(S)-III/2015-16/e-Filing Txn/ To, The Chief Commissioner of Income-Tax (Exemption) Pratyaksh Kar Bhawan, Block E-2, 25th Floor, Civic Centre, J.L. Nehru Marg...
Read MoreCircular No. 7/2010-Income Tax - (27/10/2010) - Circular No. 7/2010 The Board has received various references from the field formations as well as members of public about the period of validity of approvals granted by the Chief Commissioners of Income Tax or Directors General of Income Tax under sub-clauses (iv), (v), (vi) and (via) of Section 1...
Read MoreNotification No. 68/2010-Income Tax - (05/08/2010) - Notification No. 68 /2010-Income Tax In exercise of the powers conferred by clause (c) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “Archery Association of India”, New Delhi, as the association, for the purposes of said claus...
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Batra Hospital Employees Union Vs. Batra Hospital & Medical Research (Delhi High Court) -
Mattapalli Chalamayya Charitable Trust Visakhapatnam Vs CIT (ITAT Visakhapatnam) -
Notification No. 87/2017-Income Tax - (27/10/2017) -
Notification No. 41/2017-Income Tax - (29/05/2017) -
CIT Vs. Gulab Devi Memorial Hospital (Punjab & Haryana High Court) -
