Exemption u/s 11 - Accumulation of income - The money referred ...

Case Laws Income Tax

December 9, 2022

Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income referred in clause (a) or sub-clause (b) of sub section 1 of Section 11 read with the explanation 2 to that sub section (1) is applied to charitable or religious purposes then to claim exemption on the whole of the income, the accumulated or set apart income has to be deposited or invested in the investments identified in sub section (5) of section 11. - AT

View Source

← Previous Next →

Exemption u/s 11 - Accumulation of income - The money referred ...

Case Laws Income Tax

December 9, 2022

You may also like:

Exemption u/s 11 - AO rejected accumulation of income u/s.12AA - on perusal of facts available on record, clause 4k of trust deed provides for extending help and relief...

Rectification u/s 154 - Exemption u/s 11(2) - Accumulation of income - The Appellate Tribunal found merit in the appellant's contention regarding the amount to be...

Allowability of accumulation u/s 11(2) of the income assessed u/s 11(3)(c) - the benefit of accumulation shall be available only to the “income derived from the...

Accumulation of income - The provisions of sec. 11(2)(a) talks about “income”, where as the provisions of sec. 11(2)(b) talks about the “money” so accumulated -...

Allowance of standard deduction u/s 24(a), deduction for actual repairs, and deduction of accumulated income u/s 11(2) in the case of a charitable trust claiming...

Accumulation of fund u/s 11(2) - Failure to submit Form 10 - information related to accumulation and purpose for utilization of accumulated income - Exemption u/s 11 not...

Exemption u/s 11 - accumulation of income - In section 11(6), it is specifically provided that "In this section, where any income is required to be applied or...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Exemption u/s 11 - assessment of trust - accumulation of income - The AO and CIT(A) disallowed this accumulation, arguing that it was not for a specific purpose and was...

Revision u/s 263 - Accumulation of income u/s 11(2) - Deemed income accumulation - debatable issue - As categorically explained that deemed income charged u/s. 11(3) is...

Total income u/s 2(45) versus Income u/s 11(1) - charitable institution - benefit of standard deduction under income from house property for the purpose of accumulation...

Denial of exemption u/s 11(2) was contested due to the trust's failure to file Form No. 10 within the due date specified u/s 139(1) owing to technical issues. The...

Exemption u/s 11 - Violation of section 13 - Surplus fund not applied for charitable purpose - accumulation of funds - AO directed to o grant exemption to the assessee...

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...

Exemption u/s 11 - Accumulation of income - whether 15% accumulation for application in future has to be calculated on gross receipt or net receipt after deduction of...

Quick Updates: