Trust - Page 3

Medical college collection Huge Capitation Fee as Anonymous Donations – HC disallows Tax exemption

M/s Navodaya Education Trust Vs Sri. Sunki Rajender Reddy (Karnataka High Court)

M/s Navodaya Education Trust Vs Sri. Sunki Rajender Reddy (Karnataka High Court) The petitioner – Trust in question having the cloak of an Educational Trust, to enjoy the exemption from Income Tax obtained the approval under Section 10(23-C) of the Act, was thoroughly misused and abused by the Trustees who appear to be Members of [&...

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Annual income below Rs. 5000: Guidelines for Online Submission of Trust’s Accounts

Now we will understand the procedure for online submission of Trust's Accounts whose annual income is below Rs.5000/-...

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Posted Under: Income Tax |

Guidelines for Online Submission of A/cs of Trusts whose annual income is above Rs. 5000

Now we will understand the procedure for online submission of Trust's Accounts whose annual income is Above Rs. 5000/-...

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Posted Under: Income Tax |

Procedure for online registration of Trust in Maharashtra

In this article we will understand the procedure for online registration of Trust under Maharashtra Public Trusts Act, 1950 on charity organization website www.charity.maharashtra.gov.in....

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Posted Under: Income Tax |

Guidelines for Online Entries in Schedule I by Charitable Trusts

Now we will understand the procedure for making online entries in Schedule I on the website of Maharashtra Charity Organization website namely www.charity.maharashtra.gov.in....

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Posted Under: Income Tax |

Procedure for online submission of application U/s. 41C on Charity Organization website

While submitting the application for Event 41 C, your Mandal's name shall not be identical with the name of any Country or any State or resembled with any body constituted by the Government or any local authority or which is prohibited under Emblems and Names (Prevention of Improper Use) Act, 1950...

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Posted Under: Income Tax |

Procedure for Online Registration of Society in Maharashtra

Now we will understand the procedure for online registration of Society under the Society Registration Act, 1860 on charity organization website charity.maharashtra.gov.in....

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Posted Under: Income Tax |

Aerial View Of “Regulatory Compliances Expected From Public Charitable Trusts”

Large number of Trustees of Charitable Trusts who are engrossed in philanthropic work are unwary to compliances imposed by relevant statutes. Enlisted below are few such points which could enable stakeholders to understand applicable statute and ensure its compliance: ...

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Posted Under: Income Tax |

Depreciation on assets allowable to trust despite treatment of same as Income Application : SC

Commissioner of Income tax Vs Rajasthan and Gujarat Charitable Foundation Poona (Supreme Court of India)

Assessing Officer view in disallowing the depreciation which was claimed under Section 32 of the Act was that once the capital expenditure is treated as application of income for charitable purposes, the assessees had virtually enjoyed a 100 per cent write off of the cost of assets and, therefore, the grant of depreciation would amount to...

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Analysis of Provisions related to tax on Accreted Income of Certain Trusts and Institutions

There was no provision in the Income-tax Act which ensured that the corpus and asset base of the trust accreted over period of time, with promise of it being used for charitable purpose, continues to be utilized for charitable purposes and is not used for any other purpose....

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Posted Under: Income Tax |

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