Trust

Assessment of Trusts for A.Y 2022-2023, A.Y 2023-2024 and A.Y 2024-2025

CA, CS, CMA - Comprehensively assess trusts for A.Y 2022-2023, A.Y 2023-2024 and A.Y 2024-2025 by discussing key provisions, changes, and implications of Sec 115 UA of Income Tax Act 1961...

Assessment of Charitable and Religious Trusts and Institutions

CA, CS, CMA - Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institutions is key to understanding taxability of income & conditions for claiming exemptions. CBDT circulars & annexures included....

How To Register Society (NGO) in Haryana and Annual Return

CA, CS, CMA - Learn how to register a society (NGO) in Haryana under the Societies Registration Act, 1860. Explore the process, documents, and annual return requirements for legal compliance....

Section 115TD(3) of Income Tax Act Nightmare for Charitable Trusts

CA, CS, CMA - Explore the implications of Income Tax Act's Section 115TD(3) introduced by the Finance Act 2022 on charitable trusts. Learn about cancellation risks, tax liabilities, and potential challenges....

Trust Taxation: Recent Case Laws and Advisory Insights

CA, CS, CMA - Explore recent case laws on trust taxation, including issues like mutuality, corpus donations, and general public utility. Gain advisory insights into navigating the complex landscape of trust taxation....

Ambiguity of Trust provisions under Income Tax Act: CAAS Surat Raises Concerns

CA, CS, CMA - Explore the ambiguity of Trust provisions under the Income Tax Act highlighted by Chartered Accountants Association Surat (CAAS). Read their representation and demand for resolution....

Charity Commissioner Office Woes: BJP Mumbai Calls for Admin Reforms

CA, CS, CMA - Explore the detailed representation by BJP Professional Cell to Maharashtra's Dy CM, highlighting challenges faced by trusts and CAs. Urging an Amnesty Scheme, the article dissects administrative complexities, suggesting reforms for streamlined processes and enhanced transparency in charity governance....

Request for Deferment of Applicability of New Form 10B & Form 10BB by One Year

CA, CS, CMA - Income Tax Bar Association & All Gujarat Federation of Tax Consultants request a one-year deferment for new Form 10B and Form 10BB compliance due to practical difficulties....

Form 10B/10BB Filing Issues 2023 & appeal for deferment or extension

CA, CS, CMA - Know the challenges in Form 10B/10BB filings in 2023 and Income Tax Bar Association in Jalandhar appeal for deferment or extension....

BCAS asks for deferment of form 10B and 10BB

CA, CS, CMA - Bombay Chartered Accountants Society requests a one-year deferment of Form 10B/10BB, citing challenges faced by charitable trusts in complying with the new audit requirements in India....

Section 12AB Registration Rejection: ITAT allows filing of Form 10A

LTCL Palaniappa Charities Trust Vs CIT (ITAT Chennai) - ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside. ...

ITAT Directs De Novo Adjudication for Denial of Section 11 Exemption

SAE India Vs ITO (Exemptions) (ITAT Chennai) - Explore SAE India vs ITO tax dispute (ITAT Chennai) over Section 11 exemption, GPU classification, mutuality principles. Key issues, grounds, and legal analysis....

Section 11 Exemption denial over Punching Error: ITAT Orders Re-Adjudication

Vasan Sheri Kelavani Samiti Trust Vs ITO (ITAT Ahmedabad) - Explore case of Vasan Sheri Kelavani Samiti Trust vs. ITO, where Section 11 exemption was denied due to a punching error. ITAT orders re-adjudication and considers rectification application....

Trust Registration under section 12AA cannot be denied for Surplus Profit

CIT Vs D.N Memorial Trust (Jammu & Kashmir And Ladakh High Court) - The J&K High Court ruled that trust registration under section 12AA cannot be denied solely for generating surplus profit. Read the full judgment here....

Charitable activity genuineness unproved: Section 12AB Registration rejected

Vashi Parivaar Foundation Vs CIT (Exemptions) (ITAT Pune) - Discover the intricacies of the ITAT Pune's recent decision in Vashi Parivaar Foundation Vs Commissioner of Income Tax(Exemptions), highlighting the importance of proving the genuineness of charitable activities for gaining tax exemption....

Clarification with regard to trust audit reports issued by CBDT

Circular No. 17/2023-Income Tax - (09/10/2023) - Understand CBDT's recent clarifications on trust audit reports. Learn about substantial contributions, relatives, and concerns in this analysis....

CBDT clarifies provisions relating to charitable and religious trusts

Circular No. 6 of 2023-Income Tax - (24/05/2023) - Circular No. 6 of 2023, issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India, provides clarifications regarding provisions related to charitable and religious trusts. The circular explains the amendments made by the Taxation and Other Laws (Relaxation and Amendment o...

CBDT amends Audit Report Format of Trust (Form No. 10B) & Rule 16CC & 17B

Notification No. 7/2023-Income Tax, [G.S.R. 118(E)] - (21/02/2023) - CBDT amends Rule 16CC Form of report of audit prescribed under tenth proviso to section 10(23C), Rule 17B Audit report in the case of charitable or religious trusts, etc. and ‘FORM No. 10B – Audit report under clause (b) of the tenth proviso to clause (23C) of section 10 and sub-clause (ii)...

CBDT notifies New Income Tax Rules & Forms for Trust & NPOs

Notification No. 19/2021-Income Tax/G.S.R. 212(E). - (26/03/2021) - CBDT issues Notification no. 19/2021 dated 26/03/2021 pertaining to procedure for registration of fund/ trust/charitable institutions etc. All institutions, funds etc covered under clause (i) and (iv) of first proviso to section 10(23C), fifth proviso to section 35(1), clause (i) and (iv) of first p...

Bombay Public Trusts (Second Amendment) Rules, 2019

No. BPT-1117/C.R. 59/Desk XV - (15/05/2019) - These rules may be called the Bombay Public Trusts (Second Amendment) Rules, 2019. 2. In rule 1 of the Bombay Public Trusts Rules, 1951, in sub-rule (1) i.e., in the short title and throughout the principal Rules, for the words and figures Bombay Public Trusts Rules, 1951 the words Maharashtra Publi...

Recent Posts in "Trust"

Assessment of Trusts for A.Y 2022-2023, A.Y 2023-2024 and A.Y 2024-2025

Comprehensively assess trusts for A.Y 2022-2023, A.Y 2023-2024 and A.Y 2024-2025 by discussing key provisions, changes, and implications of Sec 115 UA of Income Tax Act 1961...

Posted Under: Income Tax |

Section 12AB Registration Rejection: ITAT allows filing of Form 10A

LTCL Palaniappa Charities Trust Vs CIT (ITAT Chennai)

ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside. ...

Assessment of Charitable and Religious Trusts and Institutions

Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institutions is key to understanding taxability of income & conditions for claiming exemptions. CBDT circulars & annexures included....

Posted Under: Income Tax | ,

Ambiguity of Trust provisions under Income Tax Act: CAAS Surat Raises Concerns

Explore the ambiguity of Trust provisions under the Income Tax Act highlighted by Chartered Accountants Association Surat (CAAS). Read their representation and demand for resolution....

Posted Under: Income Tax | ,

Charity Commissioner Office Woes: BJP Mumbai Calls for Admin Reforms

Explore the detailed representation by BJP Professional Cell to Maharashtra's Dy CM, highlighting challenges faced by trusts and CAs. Urging an Amnesty Scheme, the article dissects administrative complexities, suggesting reforms for streamlined processes and enhanced transparency in charity governance....

Posted Under: Income Tax | ,

How To Register Society (NGO) in Haryana and Annual Return

Learn how to register a society (NGO) in Haryana under the Societies Registration Act, 1860. Explore the process, documents, and annual return requirements for legal compliance....

Posted Under: Income Tax |

Section 115TD(3) of Income Tax Act Nightmare for Charitable Trusts

Explore the implications of Income Tax Act's Section 115TD(3) introduced by the Finance Act 2022 on charitable trusts. Learn about cancellation risks, tax liabilities, and potential challenges....

Posted Under: Income Tax |

Trust Taxation: Recent Case Laws and Advisory Insights

Explore recent case laws on trust taxation, including issues like mutuality, corpus donations, and general public utility. Gain advisory insights into navigating the complex landscape of trust taxation....

Posted Under: Income Tax |

ITAT Directs De Novo Adjudication for Denial of Section 11 Exemption

SAE India Vs ITO (Exemptions) (ITAT Chennai)

Explore SAE India vs ITO tax dispute (ITAT Chennai) over Section 11 exemption, GPU classification, mutuality principles. Key issues, grounds, and legal analysis....

Important Points Related To Income Tax Compliance for Charitable & Educational Institutions AY 2023-24

Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assessment year 2023-24....

Posted Under: Income Tax | ,

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