Tax calculation of education trust
This query is : Resolved
03 March 2012
pls tell me applicable exemptions on educational trust/institute/college under income tax act 1961 and what certificates are required for filing of return of college
03 March 2012
Dear Nitin,
Your query needs several areas of focus. Firstly, applicability of exemption to education institution is available under Section 11 of the Income Tax Act, 1961. Section 11, 12, 12A, 12AA and 13 are relevant. They are the crux of the taxability of all trusts and charitable organisations.
Also relevant for blanket exemption is provisions under Section 10 (23) (c).
All the above sections require expert detailed knowledge and a clear understanding of various provisions, case laws and amendments from time to time.
You may refer the book : "Taxation of Trusts and NGOs" by Taxmann for a clear understanding of the subject matter.
Regards
Your query needs several areas of focus. Firstly, applicability of exemption to education institution is available under Section 11 of the Income Tax Act, 1961. Section 11, 12, 12A, 12AA and 13 are relevant. They are the crux of the taxability of all trusts and charitable organisations.
Also relevant for blanket exemption is provisions under Section 10 (23) (c).
All the above sections require expert detailed knowledge and a clear understanding of various provisions, case laws and amendments from time to time.
You may refer the book : "Taxation of Trusts and NGOs" by Taxmann for a clear understanding of the subject matter.
Regards
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Gst Sales of FY 2023-24
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
