Tag: charitable Institution
Specific notice required if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g) – ITAT In a recent judgment, the ITAT Surat held that if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g), he should have issued specific show …
CBDT amends Form No. 10A and Form 10AB for provisional registration of charitable trusts. This amendment is effective from 1st day of October, 2024. CBDT amends Form No. 10A for provisional registration of charitable trusts. CBDT Notification No. 111/2024 dated 15.10.2024 notified the Income-tax Amendment (Seventh Amendment) Rules, …
Investment made in violation of provisions of section 11(5) can not be treated as income In a recent judgment, ITAT Nagpur held that amount of investment made by a charitable institute in violation of provisions of section 11(5) can not be treated as income, only the income arising …
Mere placing notice on e-filing portal of Income tax not in accordance with income tax provisions – ITAT In a recent judgment, ITAT has held that mere placing a notice on e-filing portal of Income tax not in accordance with income tax provisions ABCAUS Case Law Citation:ABCAUS 3933 …
Eligible donations by trust/institution to another trust/institution are application for charitable or religious purposes only to the extent of 85% of such donations – CBDT Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred …
Denial of Registration u/s 12AB remanded for de novo consideration when notices were issued at very close intervals and hearing concluded within a very short span of time In a recent judgment, ITAT has quashed the order passed by CIT(E) denying Registration u/s 12AB as order was passed …
CBDT extends timelines for filing of Audit Report in Form 10B/10BB and Form ITR-7 for charitable trusts for AY 2023-24 CBDT has issued Circular No. 16/2023 dated 18.09.2023 extending the due dates for filing of Audit Report in Form 10B/10BB and Form ITR-7 for charitable trusts for AY …
CBDT amends rules for Registration of Charitable Trusts and Form 10A and Form 10AB CBDT has notified Income-tax (Eleventh Amendment) Rules, 2023 amending rules for Registration of Charitable Trusts and Form 10A and Form 10AB. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2023 New …
CBDT extends due date for applying for renewal / grant of provisional registration by Charitable Trusts to 30.09.2023. Failure to apply made such trusts liable to additional taxation on accreted income u/s 115TD CBDT has issued Circular No. 6 of 2023 dated 24th May, 2023 giving …
CBDT releases list of Exempt Institutions Registered with Unique Registration Number – Order in Form 10AC CBDT vide notification No. 19/2021 dated 26.03.2021 revised the procedure for registration of charitable trusts All trusts/charitable institutes were required to make a fresh application for provisional registration in Form No. 10A …
