Income Tax : Learn about key deductions under Section 80 for Income Tax Returns (ITR) filing. Explore benefits, limits, and eligibility criteri...
Income Tax : The Income Tax Act's Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most import...
Income Tax : Discover why NGOs should register under Section 80G of the Income Tax Act for tax benefits. Learn about eligibility, process, docu...
Income Tax : Discover the challenges faced by NGOs with provisional registration under Sections 12A and 80G of the Income Tax Act, 1961. Explor...
Income Tax : Explore top tax-saving options beyond Section 80C for FY 2023-24, including NPS, health insurance premiums, medical expenses, home...
Corporate Law : Finance Bill 2024 updates Section 80G to reflect "National Sports Development Fund" and changes approval procedures for charities....
Income Tax : Explore amendments to section 80G for filing approval applications by funds and institutions, effective from October 2024, ensurin...
Income Tax : Learn about the updated timelines for processing applications by trusts, funds, and institutions seeking tax exemption under secti...
CA, CS, CMA : Explore the ambiguity of Trust provisions under the Income Tax Act highlighted by Chartered Accountants Association Surat (CAAS). ...
Income Tax : CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilizati...
Income Tax : ITAT Chennai directs CIT(E) to review Virudhunagar Kshatriya Vidhyasala’s S.80G(5) registration application afresh, addressing a...
Income Tax : Punjab and Haryana High Court held that the construction of Public Library would also form part of charitable function and any wor...
Income Tax : ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the li...
Income Tax : Read the detailed analysis of the ITAT Kolkata judgment on Anudip Foundation vs. CIT, discussing the rejection of 80G final approv...
Income Tax : Detailed analysis of North Eastern Social Research Centre vs. CIT(Exemption) case by Kolkata ITAT. Learn how technical errors in a...
Income Tax : Explore the notification under section 80G(2)(b) of the Income Tax Act 1961 for Shree Ramanuj Kot Trust in Indore. Details of vali...
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Income Tax : CBDT issued Notification No. 34/2023-Income Tax, dated May 30, 2023 & introduces amendments to rule 11AA of Income-tax Rules, ...
Income Tax : CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of th...
Income Tax : CBDT vide Notification No. 36/2021-Income Tax Dated: 23rd April, 2021 notifies ‘Maa Umiya Temple managed by Vishv Umiya Fo...
In Commissioner of Income Tax (Exemptions), Kolkata v. Batanagar Education and Research Trust [Civil Appeal No. 4451 of 2021], the Commissioner of Income Tax (Exemptions), Kolkata (the Appellants) and the Tribunal had directed for cancellation of the registration of Batanagar Education and Research Trust (the Respondents) under Section 12AA of the Income Tax Act, 1961 […]
On August 2, 2021, the Hon’ble Supreme Court of India ordered for Cancellation of Registration of Batanagar education and Research Trust (Trust) on the ground of misuse of status conferred under section 12AA and 80G of the Income Tax Act, 1961. Fact of the Case:- At the time of conducting a survey on an entity […]
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 back or returned to the donors in cash. […]
Mandatory CSR Registration Number, 80G and 12A Registration for NGOs to undertake CSR activities The concept of CSR (Corporate Social Responsibility) was introduced under the Companies Act, 2013 with the enforcement of Section 135 under the Act. Companies have certain responsibilities towards the stakeholders including the society in which it operates. Thus companies which cross […]
HOW TO HAVE YOUR START-UP Important steps to get started 1. Check the feasibility of your idea. 2. Have your business plan ready. 3. Choose the right business structure. 4. Look for funds. 5. Register in Government Schemes 6. Intellectual properties such as Trademark and Patents 7. Build a good digital presence. I 8. Get […]
Dear friends, as we all know from 01.04.2021, there has been drastic change made in registration process of NGO, which wants to get registered under Section 80G of Income Tax Act, 1961. In earlier process before 31.03.2021, NGO has to registered once under Section 80G of Income Tax Act and the registration is valid for […]
Form 10BD statement & Certificate of Donation: As we are aware, section 80G of the income tax act,1961 provides for deduction on payment of donations. Until the last financial year there was no way to counter check the accuracy of the donations paid. The income tax department allowed deduction based on the claim made by […]
Learn about the benefits of Section 80G registration for NGOs in India. Discover the process and compliance requirements for tax benefits and financial support.
Till the introduction of Form 10BD under the Income-tax Rules, there was no mechanism to validate or counter-check the deductions for donations claimed by the assessee under Section 80G and other sections.
Giving is not just about making a Donation. It is about making a Difference. Swipe Right to know how you can save up on your taxes by making a donation. Section 80G of the Income Tax Act, provides for Deduction in respect of donations to certain funds, charitable institutions, etc. All assesses are eligible to […]
