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...
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...
CA, CS, CMA : Recently, changes were made in the provisions pertaining to compliance by charitable religious institutions under the Income-tax a...
Income Tax : CA Shailesh R Ghedia president of BJP Professional Cell, Mumbai has written a letter to Honorable Finance Minister, Smt. Nirmala S...
Income Tax : Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Incom...
Income Tax : Explore the ITAT Delhi's ruling on Raghunandan Mishra Charitable Trust's 12A and 80G registration applications. Analysis of CIT(Ex...
Corporate Law : Read about Allahabad High Court's ruling directing Saharanpur Development Authority to reconsider exemption under Income Tax Act f...
Income Tax : Detailed analysis of ABIS Export India Pvt Ltd Vs DCIT (ITAT Raipur) case regarding CSR expenses deduction under Sec. 80G. Explore...
Income Tax : ITAT Kolkata grants exemption registration to Income Tax Bar Association Calcutta, overturning CIT's decision. Read the full detai...
Income Tax : CBDT extends Form 10AB filing to 30.06.2024. ITAT Chennai rules in favor of Earth Trust, setting aside CIT(E) order canceling regi...
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...
The Income Tax Appellate Tribunal (ITAT) in Delhi ruled in favor of the Haryana Rifle Association, deeming its activities not to be commercial. The tribunal found that the association was indeed eligible for registration under sections 12AA and 80G of the Income Tax Act.
ITAT Pune held that denial of granting of exemption under section 80G of the Income Tax Act because of spent more than 5% for religious purpose from its total income i.e. violating provisions of section 80G(5B) of the Income Tax Act is justified.
ITAT Hyderabad in case of Telangana State Chapter Indian Radiological & Imaging Association vs ITO held that application for approval u/s. 80G(5) cannot be rejected solely for selecting wrong form.
ITAT Pune calls for re-examination in the case of Kunashni Foundation Vs CIT after the rejection of applications under Section 80G and 12A of the Income Tax Act. The appellant argued a lack of opportunity to present evidence.
ITAT Mumbai held that the claim for deduction under section 80G of the Income Tax Act in respect of Corporate Social Responsibility (CSR) expenses cannot be denied.
In present facts of the case, the Hon’ble Tribunal held that expenses made pertaining to Club Membership fees shall be allowed as business expenditure.
ITAT Mumbai held that penalty levied for late filing of Profession Tax Return is penal in nature accordingly is not allowable as business expenditure.
The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompass multiple provisions and rules within the Income-tax Act, 1961. The notification details changes to rule 2C, rule 11AA and rule 17A of Income-tax Rules, 1962, under different sections such as section 10, section 12A, section 80G, and more. Notification […]
ITAT Indore held that registration under section 80G duly granted as giving donations to other trusts and societies to enable those trust and societies undertake their charitable activities is also one of the way of carrying out charitable activity.
ITAT Mumbai held that deduction u/s 80IB of the Income Tax Act, in respect of increased business income due to addition on account of concealed production, is not allowable.
