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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Free lancer income
- GST ON DAMAGED GOODS
- Specified Profession
- Small dealers gst returns filing
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
