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...
Is it mandatory to file ITR and audit report of the Trust/ institutes registered under Section 12A/ Section 12AA of Income Tax Act, 1961? For the Trust/ institutes registered u/s 12A/12AA*, Is it mandatory to file ITR and audit report of the Trust/ institutes registered u/s 12A/12AA*? let’s try to find answer step by step […]
A Brief about Form 10A and 10AB as per new Law on Registration of trust under Section 12A and Section 80G and Approval U/s 10(23C) and Section 35(1) The Finance Act, 2020 has made changes leading to complete overhaul in the registration process of charitable and religious organisations. The procedure for registration of every organisation […]
Finance Act, 2020 made a paradigm shift in the process of registration of public charitable trust by inserting a new section 12AB. Though the same to be made applicable from 1st June, 2020, the pandemic delayed its applicability and the same was made applicable recently on 1st April, 2021. The notification making the same applicable […]
All Trust, Society, NGO’s Do before 30.06.2021 This article focus on major changes brought in by Finance Act 2020 replace section 12AA into 12AB and consequential change sin Section in section 10(23C) as well as 80G. Due to Covid-19 pandemic CBDT has decided to defer the implementation of new procedure for approval/registration from 1st Oct […]
This article focuses on the major changes brought in by the Finance Act 2020 by introducing new section 10AB replacing section 10AA and bringing in similar amendments in section 10(23C) and Section 80G. These provisions pertaining to registration were originally made effective from 01-06-2020. Subsequently, due to the crisis caused by COVID-19, the Central Board […]
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 […]
A. Income Tax Act, 1961 discourages transactions in cash through several of its provisions. This is done with a view to- counteracting money laundering and tax evasion; encouraging transparent business practices; providing enabling environment for growth of transparent businesses; & easing of auditing and investigations. B. The provisions relating to cash transactions are broadly summarized […]
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 […]
New form for application for registration of Charitable or Religious Trusts or Institutions In the Union Budget of 2020, Government proposed significant changes in the registration procedure of Charitable or Religious Trusts/ Institutions or Educational Institutions which are registered under section 12AA of the Income Tax Act. The above amendment was subsequently made part of […]
The Finance Act 2020 and 2021 has brought in some dynamic changes in respect of the exempted Trusts, Societies, NGOs, Charitable Trusts, Section 8 Companies including educational, medical and/or religious institutions complying with the certain rules of registration under the Income Tax Act, 1961 (the Act). The registrations were perpetuity in nature, and their registrations […]
