Mis-utilisation of funds may risk exemption
Income-tax is a welfare legislation for it provides exemptions to charitable trusts etc. However all said and done charity and…
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Today's
Directors of NCLT lead companies held accountable for tax arrears of companies ......Read More
Yesterday's Revised return capping – a statutory handicap ......Read More
Yesterday's Revised return capping – a statutory handicap ......Read More
Charitable institutions may lose exemption for any statutory offences
A charitable institution is expected to comply with all the laws of the land. The Commissioner (Exemption) is vested with…
......Read MoreSupreme Court dicta on charities need fine tuning
In the context of a charities engaged in an object of general public utility the Supreme Court in (2022] 449…
......Read MoreMiserable on income tax lawmakers
In a most dreadful situation the Supreme Court in [2022] 447 ITR 766 (SC) were cornered with a question whether the Tribunal…
......Read MoreProviso to 2(15) is intent driven and has very limited application
For a charitable society that makes any profits their exemption claim is not determined on the basis of commercial nature…
......Read MoreWhat after cancellation of exemption/registration
The tax authorities have a right to cancel registration of trusts in some situations. At the same time the trust…
......Read MoreNew colour to provider of ‘education’ and its definition
By the crux of the decision of the Calcutta high court in [2022] 443 ITR 173 – (Cal)-CREATIVE MUSEUM DESIGNERS…
......Read MoreProfessional education has charitable character
In the context of income tax law education per se is considered to be charitable in nature. Currently much of…
......Read MoreSikhs/Hindus are old age expressions of charity
To derive 80G income tax exemption it is necessary that the donee institution is firstly established in India, only for…
......Read MoreCharity can be combined with religious activities
The Madras High Court in (2014) 2ITR-OL 191 held that a trust can have both charitable and religious objects and…
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