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Clarification regarding cancellation of registration u/s 12AA of the Income-tax Act, 1961 in certain circumstances

Income Tax - 21/2016 - Dated:- 27-5-2016 - CIRCULAR NO. 21/2016 F.No.197/17/2016-ITA-I GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES New Delhi, the 27th May, 2016 Subject- regarding Sections 11 and 12 of .....

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ition of "charitable purpose". It includes "advancement of any other object of general public utility" provided it does not involve carrying on of any activity in the nature of trade, commerce or business etc. for financial consid .....

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nvolves carrying on of any activity in the nature of trade, commerce or business; but the aggregate value of receipts from such commercial activities does not exceed ₹ 25,00,000/- in the previous year, the purpose of such trust/institution shal .....

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the trust/institution would not be eligible for tax exemption in that year. Thus an entity, pursuing advancement of object of general public utility, could be treated as a charitable institution in one year and not a charitable institution in the oth .....

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changing the cut-off benchmark as 20% of the total receipts instead of the fixed limit of ₹ 25,00,000/- as it existed earlier. 3. The temporary excess of receipts beyond the specified cut-off in one year may not necessarily be the outcome of al .....

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section (8) therein to provide that such organization would not get benefit of tax exemption in the particular year in which its receipts from commercial activities exceed the threshold whether or not the registration granted is cancelled. This amend .....

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eady granted u/s 12AA to a charitable institution merely on the ground that the cut-off specified in the provisoto section 2(15) of the Act is exceeded in a particular year without there being any change in the nature of activities of the institution .....

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cribed under the Act. 5. With the introduction of Chapter XII-EB in the Act vide Finance Act, 2016, prescribing special provisions relating to tax on accreted income of certain trusts and institutions, cancellation of registration granted u/s 12AA ma .....

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