Assessee is a charitable trust duly registered u/s 12A of the Act. Assessment for A.Y 2015-16 was completed u/s 143(3) of the Act in October, 2017 by assessing the income in the hands of the assessee as charitable trust which is registered u/s 12A of the Act. Registration u/s 12A was cancelled in May, 2018 on the ground that the trust had indulged in illegal activities by accepting capitation fees and therefore the trust is sham or bogus, disregarding the fact that the trust is involved in educational activities and also accepted by the department in past since its inception…
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Dear Sir, A charitable trust registered under section 12A(a) of the Act. The Society has been allotted land by DDA for the purpose of charitable activities. Now, the Society rented out part building to Limited Companies and the said rent receipts were spent on renovation/construction of the said building. Can the Society claim exemption under section 11 of the Act? Please clarify.
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Respected sir, A charitable trust registered u/s 12A(a) of the Act, now carrying on business activity having in excess of 20% of gross receipts wants to forfeit exemption u/s 11 . what is the itr form to be used? taxability is on net receipts (after expenses) or on grosss receipts , what is the rate of tax ? Pl elucidate
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Honorable Experts, Application for registration or provisional registration or intimation or approval or provisional approval u/s 12A/10(23C)/80G/35 Form No.10A for the A.Y. 2022-23 was unable to file before due date i.e. 31/03/2022 due some technical glitches in new I.T. Portal. Hence is there any alternative way to file the form no 10A for the A.Y. 2022-23? Kindly guide me to file the said form for the A.Y. 2022-23. Thank you, MOHAMED ALI, Tax Practitioner.
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The Assessee is a registered trust incorporated for educational and other anciliary objects. The trust for FY 20-21 has accumulated 85% of the income and intends to apply the same in the subsequent years within a period of 5 years. Now, in FY 21-22, the Assessee Trust intends to incur expenditure on repairs and maintenance of a school that forms part of another Trust. The payment will be made by the Assessee trust to the contractor directly, no amount shall be paid by the Assessee trust to the other Trust. The invoice will be raised by the contractor in the…
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Assessee is a charitable trust running a primary school. Assessee trust do not have registration U/sec.12 AA. His consultant has filed the Return of Income by mentioning incorrect number of registration U/sec. 12AA of the Act. Also filed application for registration. His application was rejected by the CIT on the ground of various defects in the financial statement submitted along with ROI and incorrect mentioning of Registration number. Notice u/sec.147 was issued . In response to said notice the assessee trust has filed the Return of Income where in all the errors in earlier Return filed were corrected and since…
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The assessee is a Charitable Trust engaged in running a Primary School solely for educational purposes. The only income earned is by the way of Tuition Fees from student and Interest income. The assessee trust had its original return on 19.08.2016. and revised return of income for A.Y. 2016-17 on 26.06.2017, where there were lots of errors and the claims which were incorrect. such as assessee trust has claimed the the trust is registered U/Sec.12AA by quoting incorrect registration number, when the trust was not having registered U/Sec.12AA of the Act. The AO served notice under section 148 in response…
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The assessee is a branch office of a foreign company in India approved by RBI and ROC and already registered u/s 12AA and 80G of the Act. The assessee is applying for renewal of registration u/s 12AA and 80G of the Act. S. No. 6 of the Form 10A (form for renewal of registration) asks the taxpayer to confirm whether the trust deed contains clause that the trust is irrevocable. In case of assessee, it only have Memorandum of objectives and aims which does not contain any article on irrevocability Whether the assessee should select Yes or No in S…
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Dear Sir, One Charitable Trust with 12A and 80G registrations would like to donate to another Charitable Trust 12A and 80G registrations. In the light of the new amendments, can this be done?. If it can be done, any steps are precautions to be taken?
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Whether a public charitable registered u/12A engaged in promotion of music by organizing online classes and conducting various programmers. It is not regd under FCRA. Whether it can receive money in foreign exchange from students abroad and also contribution for programmers from foreign rasikas to view the programmers online.
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Proceedings u/s 263 of Income Tax Act