Income Tax : The new framework eliminates mandatory renewals and replaces them with continuous monitoring. Donor eligibility now depends on sus...
Income Tax : The new Income Tax Rules, 2026 permit reapplication within one month of rejection. This provides a faster alternative to appeals a...
Income Tax : The approach differs for pending, rejected, or delayed applications. Trusts must choose the right remedy based on procedural posit...
Income Tax : Courts held that prior exemption claims under Sections 11 and 12 cannot justify denial of 80G approval. The key takeaway is that b...
Income Tax : Authorities now scrutinize NGO financial statements before granting or renewing registration. Proper documentation and clear chari...
Income Tax : Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legal...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : This explainer breaks down how Section 80G deductions work and who can claim them. It highlights deduction categories, qualifying ...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
Income Tax : Suggestions to simplify 12AB and 80G renewal for charitable trusts, proposing conditional approvals, straight-through processing f...
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 teaching Arabic language and Islamic studies through systematic instruction amounts to education and not religi...
Income Tax : The Tribunal ruled that the CIT(E) failed to properly consider the assessees replies, documents, and objections before rejecting t...
Income Tax : The government notified a historic temple as eligible under Section 80G due to its cultural significance. Deductions apply only fo...
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...
Donations to trusts, charities & NGOs are not just acts of benevolence; they also come with tax exemptions under Section 80G. Analyse how to avail the same in this blog post.
ITAT Pune held that if Trust/Institution incurs expenses for religious purposes which is inclusive and is only a small part of the income, and if the substantial work done by the trust is charitable in nature benefitting the public at large then the institution or trust has to be granted exemption u/s 80G of the Act.
Approval under section 80G sought for by the assessee cannot be subjected to any condition as there is an inbuilt mechanism to be complied with by assessee after getting registration/approval under section 12AA and 80G
ITAT Mumbai held that CIT(E) did not enjoy the power to impose any conditions on his own while granting the approval u/s 80G of the Income Tax Act (other than what is stipulated in law).
Learn how Indian laws combat cash transactions through measures like demonetization, Benami Transactions Act, and Income-tax Act. Understand penalties and compliance to ensure financial transparency.
JCIT Vs Shree Ganesh Construction (ITAT Ahmedabad) It is observed that even though the original receipt for payment of donation of Rs.50,000/- made to Chief Minister Kanya Kelvani Nidhi was not produced by the assessee as the same was lost or misplaced, sufficient evidence was produced by the assessee to support and substantiate its claim […]
All Corporates are ready to file their Income Tax Return for the AY 22-23 on or before 30th September 2022 and claiming various deduction under Chapter VI A of the Income Tax Act 1961.
Advancement of any other object of general public utility would continue to be a charitable purpose, if the activity in the nature of trade, commerce, or business is undertaken in the course of actual carrying out of such advancement of any other object of general public utility and the aggregate receipts from any activity in the nature of trade, commerce or business, or any activity of rendering service in relation to any trade, commerce or business does not exceed 20% of the total receipts of the trust or institution undertaking such activities, for the previous year.
Understand the Income Tax provisions in India regarding cash transactions, including penalties and restrictions on accepting loans or deposits in cash.
CAG noticed ineffective monitoring of accumulation of income and its utilization, ineffective monitoring of receipts and utilization of foreign contribution, inadequacy of survey of educational Trusts, absence of provision for disclosure of TDS in the audit report, etc.
