Tag: Section 10(23C)
For exemption 10(23C), educational institutions cannot have objects unrelated to education. All objects must relate to imparting education – Supreme Court ABCAUS Case Law CitationABCAUS 3615 (2022) (10) SC Important Case Laws relied upon by parties American Hotel and Lodging Association vs. Central Board of Direct Taxes (2008)10 …
Rule 17AA Books of account and other documents to be kept and maintained by Charitable Trusts/other Institution – CBDT Notification Section 12A related to eligibility of charitable trusts and/or Institutions has been amended. Clause (b) of sub-section (1) of section 12A by the Finance Act, 2022 had been …
CBDT prescribes revised procedure for registration of charitable trusts u/s 12A / 12AB, u/s 80G u/s 1023C etc.. Income-tax (6th Amendment) Rules 2021 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)New Delhi Notification No. 19/2021-Income Tax Dated- 26th March, 2021 G.S.R. 212(E).—In exercise of the powers conferred …
Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses. Sub-clauses (iiiad) of …
CBDT amends Income Tax Rules / Form 56/10G regarding application for exemption u/s 10(23C) and 80G. Read CBDT Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 60/2019-Income Tax New Delhi, the 5th September, 2019 S.O. 3215(E).—In exercise of the powers conferred by the first …
Merely printing other aims/objects as per requirement of Registrar of Societies would not disqualify it for approval u/s 10(23C)(vi) – ITAT ABCAUS Case Law Citation: ABCAUS 2928 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Harf Charitable Trust (Regd.) Malerkotla vs. Chief Commissioner of Income …
Registration u/s 12AA can not be denied for claiming exemption u/s 10(23C) earlier. Trust running hospital/school can apply under either for Sections. ABCAUS Case Law Citation: ABCAUS 2895 (2019) (04) HC Important Case Laws Cited/relied upon by the parties CIT vs. Bosotto Brothers Limited CIT Vs. M/s A.R. …
Educational institutions may take more creative steps to qualify their objectives as an “educational purpose” than objectives set out in the memorandum-High Court ABCAUS Case Law Citation: ABCAUS 2281 (2018) (04) HC Important Case Laws Cited/relied upon by the parties ACIT v. Thanthi Trust 247 ITR 785 Commissioner …
Tests must be applied to determine if an institution exists solely for educational purposes and not for profit. High Court remands the approval u/s 10(23C) for application of tests as laid down by the Supreme Court ABCAUS Case Law Citation:ABCAUS 2267 (2018) (03) HC Important Case Laws Cited/relied …
Provisions for exemptions u/s 10(23C) and 12AA are completely different and independent Rejection of former did not automatically result in denial of later-High Court ABCAUS Case Law Citation: ABCAUS 2249 (2018) (03) HC The respondent assessee was a society. The Assessing Officer during the course of the assessment …
