Respected Team, A charitable having regn u/s 12AB filed return for A Y 2024-25 in which to query in General Information whether the provisions of section 13(10) are applicable , wrongly ticked the box yes thereby resulting in tax demand u/s 143(1) from CPC . The provisions of sec 13(10) are not applicable and is a clerical mistake. How to rectify the same. time limit for filing revised return is also over. whether the trust can petition to CIT(E) or to Board Kindly advise.
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Chronology # Date Event 0 09-Aug-2018 trust constituted; 27-Nov-2018 Form 10A filed; 28-May-2019 — 12AA registration granted, effective AY 2019-20, with salient objects recorded as Education and Relief of the Poor / Advancement of any other object of general public utility — the trust's first income-tax registration. 1 04-May-2020 Trust files original application for 80G recognition. 2 Compliance date set for 16-Feb-2021; not met CIT(E) issues a detailed questionnaire, sets a compliance date. Trust does not respond by that date. On 27-Mar-2021, the application is rejected purely for non-response — the order records no finding on genuineness, objects, or eligibility;…
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Respected team, A charitable trust administered by the High Court, enjoying regn u/s 12AB . for A.Y 2024-25, the accountant while filing ITR , due to clerical mistake ticked yes to the query as to the applicability of section 13(10) because of which demand raised by CPC u/s 143(1) taking the entire receipts as income. due date for filing revised return also expired, what is the remedy . CPC does not permit the option of data correction u/s 154 whether CIT (E) or Board can allow rectification
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whether a proposal for sale of immovable assets by a charitable trust requires a prior approval of the Director of Exemptions even when the Act is silent about such requirements. The Trust deed contains such an obligation, which was inserted at the time of registration based on Directions given by the then CIT in the form of a rectification deed to facilitate the Registration. Is there any recent Notification to the effect that such approval is not required?
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An Trust having Form 10AC Order for registration under section 12A and 80G of the Income Tax Act, 1961 valid from Assessment years 2022-23 to A.Y-2026-27, as assessee trust had already filed Form 10AB "Application for registration or approval " for the F.Y-2025-26 dated 07.12.2025 with condonation in respect of approval u/s 12A of the Income Tax Act, 1961. Help me in understanding the procedure further to obtain the approval as of today there is no update on the same. Also, what are further implication if the approval is not granted to the assesse trust.
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Mr. X had built a temple on a piece of agricultural land belonging to himself in the year 1931/1932 and continued to run and manage the temple himself during his lifetime. After his demise, his lineal descendants have been running and maintaining the temple till date. In the year 2015 a Trust (Religious) was formed and registered under Sec 12A/12AB of the IT Act,1961. One of the conditions imposed by the Dept at the time of registration was that the land on which the temple was built should be registered in the name of the Trust. Accordingly, the land, measuring…
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If the accumulation of surplus is not shown as appropriation in Income & expenditure Account, can the benefit of 11(2) be denied. I ran a ICAI Chat GPT query, and got the following cases Gujarat State Board of School Textbooks v. ACIT (Exemptions) [2022] 139 taxmann.com 155 (ITAT Ahmedabad) ITO (E) v. Chamber of Income Tax Consultants [2020] 117 taxmann.com 321 (ITAT Mumbai) Bharat Diamond Bourse v. ADIT (Exemptions) [2021] 127 taxmann.com 54 (ITAT Mumbai) I am unable to find the cases, hene this query
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12A Registered Trust receive Donation from another 12A Registered Trust Whether donation received to Calculate for 85% for Application of Income or can be excluded for calculation.
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can they claim expenses incurred for object against income even if treated as AOP ?
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charitable trust – wrong filing due to incorrect data applicability