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How did the famous musical band BEATLES inspire GST maker?
Goods & Services Tax by Kanishka and Associates on Nov. 28, 2018Do you know, there is a particular song that radio disc jockeys and TV news reporters, post offices in the US, play in the days very close to April 15? Its a song composed by George Harrison of the famous band "Beatles". Why do they play it? Because it talks of taxman... and... April 15 is the last date of filing tax returns by US individuals... You would be amused to hear the lyrics... they are there in the article...
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If trust with objects similar to yours is 12AA registered, then yours can get too.
Income Tax by Kanishka and Associates on Nov. 02, 2018Yes, it is 100% true. If a trust similar to yours has 12AA registration, then you can site its name before tax authorities and seek 12A registration for yours too. It was held by ITAT Delhi Bench F. The case was of Rubber Skill Development Council (RSDC). RSDC had outsourced its training program. It was charging fees for training too. But ITAT held that DIT should consider giving registration as similar institutions are registered.
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ITAT restored the matter to CIT for enquiry and adjudication
Income Tax by Kanishka and Associates on Oct. 12, 2018Gogte Ganpati Mandir Trust made an application for registration u/s 12AA and exemption u/s 80G(5). CIT rejected it holding that main object of trust was maintenance and management of a temple, on land of M/s Gogte Salt and Chemicals, and exemption sought was for tax evasion of donations. ITAT restored the matter to CIT for enquiry and adjudication. - 500308
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Explained: Proviso to Sec 2(15) of Income Tax Act,1961
Income Tax by Arpit Kakar on Oct. 11, 2018Proviso to Sec 2(15) of Income Tax Act,1961 usually gets amended by each Finance Act. In this article i have tried to explain the proviso as it stands today. Proviso deals with scenarios in which "Advancement of Object of General Public Utility" will not be treated as a charitable purpose. For detailed understanding of the scenario, continue reading:
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