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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Benefit of exemption 11 - assessee's trust can promote its ...


Trust Eligible for Income Tax Exemption u/s 11; Donations to Charities Count as Income Application.

January 10, 2017

Case Laws     Income Tax     AT

Benefit of exemption 11 - assessee's trust can promote its charitable objects by giving donation to other charitable organizations and such donations will amount to application of income of the trust. - AT

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  2. Exemption u/s 11 - Donation to other trusts - no explanation offered for many donations made by the Trust as to whether they were for activities in conformity with the...

  3. Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

  4. The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

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  6. Corpus donations, being distinct from incomes derived from trust property, are granted exemption separately u/s 11(1)(a) and 11(1)(d) of the Act. There is no overlapping...

  7. The AO denied exemption u/s 11 to the assessee trust based on incriminating evidence of undisclosed income declared under PMGKY, systematic recovery of staff salaries,...

  8. Exemption u/s 11 - trust which was not registered u/s.12A - Addition of corpus donation - voluntary contribution received by the trust with a specific direction that...

  9. Exemption u/s 11 - contribution/donation to other charitable trust - Donations are never made with prior agreement and it is solely governed by the will and capabilities...

  10. Exemption u/s 11 - Determination of application of income and accumulation of income - claim of deduction of the claim of assessee for an amount u/s 24(a) from rental...

  11. Assessment u/s 153A - benefit of exemption u/s 11 - Bogus purchases - even if the benefits of section 11 is denied than too there can be no income of the appellant trust...

  12. Denial of exemption u/s 11 was challenged. The assessee trust's entire income, including corpus donation, voluntary donation, and other income, was adjusted by not...

  13. Treatment of donation to other trusts - Exemption u/s 10(23C) and u/s 11 - Donation by trust & Other institutions to another trust & Other institutions shall be treated...

  14. Application of income of the Trust u/s 11 - Carry forward and set off of losses - if commercial principles are applied then adjustment of expenses incurred by the Trust...

  15. Exemption u/s 11 - status of the assessee trust - The assessee trust is irrevocable trust which is duly registered under section 12A and thus, eligible for exemption u/s...

 

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