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...
Explore SAE India vs ITO tax dispute (ITAT Chennai) over Section 11 exemption, GPU classification, mutuality principles. Key issues, grounds, and legal analysis.
Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assessment year 2023-24.
Confused about whether to establish a Trust, Society, or Section 8 Company? This comprehensive comparison simplifies the decision-making process for you.
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.
Learn about exemption possibilities under Sec. 10(23C) for registered educational or medical institutions and the need for Form 10B/10BB. Get clarity on tax implications.
Recent changes in audit reports for charitable trusts and institutions in India. New requirements include disclosing contributors exceeding INR 50,000 and related details
Understand CBDT’s recent clarifications on trust audit reports. Learn about substantial contributions, relatives, and concerns in this analysis.
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.
Know the challenges in Form 10B/10BB filings in 2023 and Income Tax Bar Association in Jalandhar appeal for deferment or extension.
Learn about latest changes in Form 10B and Form 10BB for 2023, their applicability, key differences, consequences of non-compliance, and complexities of tax reporting for charitable and educational institutions.
