Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
Income Tax : Sections 334 to 338 prescribe a separate taxation framework for registered NPOs. Specified income arising from violations such as ...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
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 : The Tribunal ruled that the six-month time limit from commencement of activities applies only to newly formed trusts. Long-standin...
Income Tax : Jewellers and Diamond Traders Association Vs CIT (Exemptions) (ITAT Chennai) The Jewellers and Diamond Traders Association (“the...
Income Tax : The ITAT Chennai rules that the surcharge on a private discretionary trust's dividend and capital gains income cannot exceed 15%, ...
Income Tax : An ITAT Pune order protects a charitable trust from being taxed on its gross receipts due to income tax return filing errors. Lear...
Income Tax : ITAT-Cuttack holds only net income, not gross receipts, of an unregistered educational trust is taxable, emphasizing consistency i...
Income Tax : New circular from Maharashtra Charity Commissioner allows public trusts to invest up to 50% of funds in diverse securities without...
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...
Delhi High Court clarifies that reasonable payments to trustees do not automatically revoke a trust’s tax exemption under Sections 11 and 12, overturning the Revenue’s challenge.
ITAT-Cuttack holds only net income, not gross receipts, of an unregistered educational trust is taxable, emphasizing consistency in prior assessments.
New circular from Maharashtra Charity Commissioner allows public trusts to invest up to 50% of funds in diverse securities without individual approval.
Introduction: It is mandatory for every charitable trust to obtain registration under Section 12AB of the Income Tax Act in order to claim exemptions under Sections 11 and 12. If your trust was registered under Section 12AB For the AY 2022–23, the registration remains valid until the AY 2026–27. Therefore, it is essential to reapply […]
Learn about Trust Registration in India for charitable initiatives. Understand the process, benefits like tax exemptions, and essential steps to establish your non-profit legally.
Learn how to set up a charitable trust in India in 2025. This guide covers trust registration, deed drafting, documentation, and tax exemption processes.
CBDT’s shift to electronic Form 10F filing poses compliance challenges for resident payers and non-residents, raising concerns over clarity, PAN requirements, and tax risks.
Learn about income tax exemptions for universities, hospitals, and educational institutions under Section 10 of the Income Tax Act, including Rule 2BBB provisions.
An analysis of trust taxation under the Income Tax Act, including Finance Bill 2025 amendments, tax exemptions, anonymous donations, and business trust regulations.
Understand the audit requirements for trusts under Form 10B/10BB, including due dates, filing process, clauses, and key differences to ensure compliance and tax exemption.
