Income Tax : Understand the audit requirements for trusts under Form 10B/10BB, including due dates, filing process, clauses, and key difference...
Income Tax : Learn the step-by-step procedure for NGO Darpan registration, required documents, and how to obtain a unique ID for your NGO or ch...
Corporate Law : Learn the procedure and requirements for registering an NGO as a Trust in India, including necessary documents and benefits....
Income Tax : AQs on charitable trusts, covering registration under Section 12AB, income tax rules, donation management, audit requirements, and...
Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...
Income Tax : Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes...
CA, CS, CMA : Explore the ambiguity of Trust provisions under the Income Tax Act highlighted by Chartered Accountants Association Surat (CAAS). ...
Income Tax : Explore the detailed representation by BJP Professional Cell to Maharashtra's Dy CM, highlighting challenges faced by trusts and C...
Income Tax : Income Tax Bar Association & All Gujarat Federation of Tax Consultants request a one-year deferment for new Form 10B and Form 10BB...
Income Tax : Know the challenges in Form 10B/10BB filings in 2023 and Income Tax Bar Association in Jalandhar appeal for deferment or extension...
Income Tax : ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on th...
Income Tax : Explore SAE India vs ITO tax dispute (ITAT Chennai) over Section 11 exemption, GPU classification, mutuality principles. Key issue...
Income Tax : Explore case of Vasan Sheri Kelavani Samiti Trust vs. ITO, where Section 11 exemption was denied due to a punching error. ITAT ord...
Income Tax : The J&K High Court ruled that trust registration under section 12AA cannot be denied solely for generating surplus profit. Read th...
Income Tax : Discover the intricacies of the ITAT Pune's recent decision in Vashi Parivaar Foundation Vs Commissioner of Income Tax(Exemptions)...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
Income Tax : Explore Circular No. 3/2024 by the Government of India, Ministry of Finance. Learn how Finance Act 2023 affects tax exemptions for...
Income Tax : Learn about CBDT's circular allowing trusts/institutions to submit Form 10B/10BB audit reports by March 31, 2024, to avoid denial ...
Income Tax : Understand CBDT's recent clarifications on trust audit reports. Learn about substantial contributions, relatives, and concerns in...
Income Tax : Circular No. 6 of 2023, issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India, provides clarificat...
Association of Indian Forging Industry Vs ITO (ITAT Pune) Association of Indian Forging Industry (hereinafter referred to as appellant) is a not-for-profit company incorporated u/s 25 of the Companies Act, 1956 and is also registered u/s 12A of the I.T. Act 1961, therefore eligible for exemption u/s 11 of the Act. As per the memorandum […]
Ensure tax-exempt status for trusts with our guide. Compliance with Income Tax Act secures exemptions for property-derived income. Explore investments, corpus donations, and more.
Understand the cash transaction restrictions on charitable trusts under income tax. Learn about the different types of donations and their implications.
Recently, changes were made in the provisions pertaining to compliance by charitable religious institutions under the Income-tax act, 1961 by making it mandatory the furnishing of Statement of Donations Received in Form No. 10BD and thereafter generation of Certificate of Donations in Form 10BE.
Understanding Form 10BD for Trusts and Research Institutes. Learn about the new notification and the details required for filing this form.
S.R.Trust Vs PCIT (Madras High Court) ITAT held that procedure of cancellation of the registration already enjoyed either under 12A regime or 12AA regime in the case of the petitioner, in view of the new regime having been introduced, shall take place only after disposing the application made by the trust or institution, under the […]
Merely because of organizing seminars itself cannot make the trust non charitable or commercial. In our considered view, the invoking of section 2(15) of the Act merely because of revenue from organizing seminar cannot make the trust looses the character of charity.
Master the step-by-step approach for filing Form 10BD for the Financial Year 2021-22. Unveil the intricacies, key instructions, and essential details you should know before initiating the process. From compiling donation data to filing and issuing Form 10BE, this comprehensive guide provides insights, ensuring a seamless filing experience.
These instructions are guidelines to help the taxpayers for filling the particulars in CSV template in Part-B Details of donors and donation relevant to the Financial Year.
Under Income Tax Act 1961, there are only 3 sections are pertaining to Charitable and Religious Trust, i.e. Sections 11, 12 and 13. As per section 2(15), charitable purpose includes relief of the poor, education, yoga, medical relief, preservation of environment ( including watersheds, forest and wild life ) and preservation of monuments or places […]
