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Income Tax - Highlights / Catch Notes

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Trust - Interpretation of Section 11(1)(a) - Application of ...

Income Tax

May 16, 2012

Trust - Interpretation of Section 11(1)(a) - Application of income - treatment of payment of taxes under the Voluntary Disclosure of Income Scheme, 1997

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  2. Exemption u/s 11 - the assessee trust is entitled to set off of excess expenditure of earlier years in subsequent assessment years as application of income.

  3. 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...

  4. 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...

  5. Registration u/s 12AA - proof of charitable activities - treatment as registered trust - receipt of land as Donation - the objects of the assessee trust being charitable...

  6. 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...

  7. Exemption u/s 11 - registration u/s 12AA - Since by definition a charitable trust is not one which makes profits and if we accept the interpretation of the Revenue that...

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  9. Exemption u/s 11 - Use of accumulated income for different purpose - Treating the amount given to PSWHMMS as the income of the appellant-society in terms of section...

  10. Calculation of the deduction u/s. 11(1)(a) - Having found that trust is entitled to exemption under s. 11(1), we are to go to the stage of income before application...

 

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