What if the charitable trust don’t file the income tax return within due date?   For charitable or religious trusts, the benefit of exemption under Section 11 (and Section 12) is linked to timely filing of return of income. Here is the legal position: 1.  Statutory Provision •  Section 12A(1)(ba) of the Income Tax Act says: “The person in receipt…

CIRC of ICAI requested FM to extend the due date of Tax Audit Reports for FY 2024-25 from 30th Sept to 31st Dec 2025.  

VTPA Representation for Extension of Due Date for Filing of Income Tax Returns for A.Y. 2025–26   To The Chairman, Central Board of Direct Taxes (CBDT), New Delhi. Email: chairmancbdt@incometax.gov.in   Subject: Request for Extension of Due Date for Filing of Income Tax Returns for A.Y. 2025–26   Respected Sir,   We, Vidarbha Tax Practitioners Association (VTPA),…

VTPA Representation for extending the period of renewal for registration from 5 years to 10 years for the charitable trust who are required to apply for registration by 30th Sept 2025   To Smt. Nirmala Sitharamanji Hon’ble Finance Minister of India Ministry of Finance Government of India New Delhi – 01  Subject: Representation for ensuring Ease…

Demonetisation Cash Deposits to be Taxed as Business Income, Not Unexplained u/s 69A   Dineshkumar Nemichand Jain (ITA No. 781/Ahd/2025) Facts: 1. AO had made two additions: ₹26,57,500 – cash deposits during demonetisation, treated as unexplained u/s 69A & ₹11,11,800 – net profit estimated @ 8% of turnover. 2. CIT(A) partly allowed appeal, sustaining ₹26.57…