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Revision under section 263 cannot be invoked by PCIT when the AO's view allowing deduction under section 80G for CSR expenses is supported by various Tribunal decisions: ITAT
Citation- American Express (India) P. Ltd. vs. PCIT ITAT: Delhi ITA No: 2468 (Delhi) of 2023 Assessment Year: 2016-17 Date of Order-...
Dohit Muranjan
Sep 19, 20242 min read
Educational loans and scholarships given to Indian students in India for overseas education is ‘application’ in India: ITAT
Citation- ITO(E) v. JN Tata Endowment for the Higher Education of Indians ITAT: Mumbai ITA No: 3573 of 2024 Assessment Year: 2011-12 Date...
Dohit Muranjan
Sep 19, 20242 min read
Registration and compliance under state law is mandatory: ITAT
Registration and compliance under state law is mandatory
Dohit Muranjan
Sep 19, 20241 min read
Demystifying ITR-7: A Comprehensive Guide to Income Tax Returns for NGOs
Introduction: Form ITR 7 is a critical component of the tax filing process for Non-Profit Organizations (NPOs), including charitable...
Parul Agrawal
Sep 17, 20245 min read
8 Essential To-Dos for NPOs to Prepare for Statutory Audit
By adhering to these ongoing processes and engaging the right professionals, NPOs can achieve a seamless year end audit experience.
Suhani Hirawat
Aug 26, 20245 min read
Net profit and not gross receipts can be brought to tax if exemption under section 11 is not available: ITAT
Net profit and not gross receipts can be brought to tax if exemption under section 11 is not available: ITAT
Dohit Muranjan
Aug 26, 20241 min read
Registration under section 12AA cannot be denied solely because the trust had not started its charitable activities: HC
Registration under section 12AA cannot be denied solely because the trust had not started its charitable activities: HC
Dohit Muranjan
Aug 26, 20241 min read
Affiliation or recognition by regulatory authorities is not essential attribute of ‘education’ as defined in section 2(15): HC
Citation- Commissioner of Income Tax v. NIIT Foundation HC: Delhi ITA No: 141 OF 2021 Assessment Year: 2014-15 Date of Order- July 26,...
Dohit Muranjan
Aug 26, 20242 min read
Audit Report under Form 10B/Form 10BB - Tax Compliance Simplified
Learn all about Form 10B and Form 10BB, crucial for tax exemptions. Understand their differences, due dates, consequences and penalties
Parul Agrawal
Jul 22, 20244 min read
Registration cannot be revoked if full registration was filed after 6-month period from provisional registration, due to change in law: ITAT
Registration cannot be revoked if full registration was filed after 6-month period from provisional registration, due to change in law
Dohit Muranjan
Jul 22, 20242 min read
Exemption under section 11 cannot be disallowed when payment of salaries and rent is reasonable: ITAT
Exemption under section 11 cannot be disallowed when payment of salaries and rent is reasonable
Dohit Muranjan
Jul 22, 20241 min read
Expenditure towards CSR activities is an allowable deduction u/s 80G: ITAT
Expenditure towards CSR activities is an allowable deduction u/s 80G: ITAT
Dohit Muranjan
Jul 22, 20242 min read
Mastering Fund Accounting for NPOs: Basic, Benefits, Challenges, and Solutions:
Fund accounting plays a pivotal role in the financial management of NPOs, ensuring transparency, accountability, and compliance.
Parul Agrawal
Jun 17, 20245 min read
Markup on activity of advancement of general public utility and Pre-printed receipts with donor directions
Markup on activity of advancement of general public utility and Pre-printed receipts with donor directions - ITAT matter 2024
Dohit Muranjan
Jun 16, 20242 min read
Deemed income u/s 11(3) is also entitled to 15% basic accumulation under section 11(1)(a): HC
Deemed income is also entitled to 15% basic accumulation
Dohit Muranjan
Jun 14, 20242 min read
Expenses paid by a charitable trust for business support services to a sister concern at arm’s length, could not be disallowed under section 13: ITAT
Expenses paid by a charitable trust for business support services to a sister concern at arm’s length, could not be disallowed u/s 13
Dohit Muranjan
Jun 14, 20241 min read
25 FAQs on Forms 10BD and Form 10BE: a Must-Know for every NGOs and Donors
Dive into 25 FAQs for form 10BD and Form 10BE.
Parul Agrawal
May 20, 20241 min read
Section 12AB(4)(ii) cannot be invoked for retrospective cancellation: ITAT
Citation: Amala Jyothi Vidya Kendra Trust v. PCIT ITAT: Bangalore ITA No: 141 and 142 OF 2024 Assessment Year: 2017-18 Date of Order:...
Dohit Muranjan
May 20, 20242 min read
CIT(E) cannot invoke provisions of section 13 at the time of grant of registration under section 12AB: ITAT
Citation: Bhojalram Leuva Patel Seva Samaj Trust v. CIT(E) ITAT: Ahmedabad ITA No: 667 & 668 OF 2023 Date of Order: 30.4.2024 Brief...
Dohit Muranjan
May 20, 20241 min read
The Tribunal has the power to condone the delay in filing application for final approval under clause (iii) of first proviso to section 80G(5): ITAT
Tribunal has the power to condone the delay in filing application for final approval 80G (5)(iii)
Dohit Muranjan
Apr 24, 20241 min read
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