Audit Question November 2018
Audit Question November 2018 Have a look at today’s audit question paper ( November 2018) for new course. old…
other topic
Attention Pensioners
Attention Pensioners November is an important month for all pensioners. In this month, all pensioners need to provide life certificates…
CA Final SFM Question Paper
Have a look at CA Final SFM Question Paper of New Course (NOV 2018) CA Final New SFM
CBIC notifies exchange rates for conversion!
CBIC notifies exchange rates for conversion! Central Board of Indirect Taxes and Custom notifies the exchange rates for conversion. Have…
TIME FOR DIWALI GIFTS: ELIGIBILITY OF ITC?
TIME FOR DIWALI GIFTS: ELIGIBILITY OF ITC? Diwali is the time to gift to your friends, family, employees, customers and…
Business Compliance Calendar for the month of November – 2018
07.11.2018 – Due date for Payment of Tax deducted/Collected (TDS/TCS) in the month of October-2018. However, all sum deducted/collected by…
Procedure for cancellation of GST Registration – Clarification – Circular No. 69/43/2018 Dated 26-10-2018
Procedure for cancellation of GST Registration – Clarification – Circular No. 69/43/2018 Dated 26-10-2018 The CGST Act provide that a…
All about 26AS!
All about 26AS! The first form that anyone generates for filing an Income Tax Return is 26AS. Form 26AS gives…
Sum not paid to assessee due to non-fulfilment of certain condition not to be added in total consideration
Sum not paid to assessee due to non-fulfilment of certain condition not to be added in total consideration Facts: a)…
Fresh Petition at Gauhati High Court
Fresh Petition at Gauhati High Court Last TWO days for finalizing the Tax Audit. The Chartered Accountants are busy completing…
Forensic Audit: Basics
Forensic Audit: Basics Services rendered by Forensic auditor: Crafting questions to be posed Responding to questions posed Identifying documents…
Now penalty in case of late filing of RERA Certificates
Now penalty in case of late filing of RERA Certificates MP RERA vide its order dated 24.07.2018 has clarified that,…
All Eyes on Gauhati High Court for Tax Audit Report Date Extension
All Eyes on Gauhati High Court for Tax Audit Report Date Extension Hope alive for Tax Audit report Date…
![No denial of sec. 12A registration merely on ground that trust was seeking exemption u/s 10(23C)(iiiad) IT: Where assessee educational trust was engaged in running, managing and developing school to provide educational facilities along with scholarships to poor and disabled children, registration under section 12A could not be denied on ground that assessee having been claiming exemption under section 10(23C)(iiiad) should have sought approval under section 10(23C)(vi) and not under section 12A [2018] 98 taxmann.com 232 (Chandigarh - Trib.) IN THE ITAT CHANDIGARH BENCH 'B' Swami Vivekanand Education Society v. Commissioner of Income-tax (Exemptions), Chandigarh* SANJAY GARG, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER IT APPEAL NO. 388 (CHD.) OF 2018 SEPTEMBER 6, 2018 It is settled law that for the purpose of grant of registration under section 12A, the Commissioner (Exemptions) has only to consider the genuineness of the objects and the activity of the applicants. The same is clear from the language of section 12AA itself, which deals with procedure for Registration, and which states so in clear terms. [Para 6] Further one is unable to agree with the Commissioner (Exemptions) that an applicant asseessee seeking exemption under section 10(23C)(iiiad) has to necessarily seek approval under section 10(23C)(vi) and that it cannot seek approval under section 12A implying thereby that the approval under the said two sections cannot be sought alternately. While section 10(23C)(vi) deals with the issue of approval to be sought by universities or other educational institutions existing solely for educational purposes, section 12AA deals with registration to be sought by trusts or institutions carrying out charitable activities, which as per the definition of charity under section 2(15) includes education. Therefore, an institution indulging in the activity of imparting education can seek approval/registration either under section 12A or under section 10(23C)(vi) if it fulfils the condition specified therein. No provision under the Act has been brought to notice by the revenue, debarring institutions from seeking approval/registration under the said sections alternatively, nor does the same emanate from the order of the Commissioner (Exemptions). Further the revenue had also not pointed out any provision of law to the effect that an assessee seeking exemption under section 10(23C)(iiiad), has to compulsorily seek approval under section 10(23C)(vi). [Para 8]](https://thetaxtalk.com/wp-content/uploads/2018/10/Untitled-6-min-6.png)
No denial of sec. 12A registration merely on ground that trust was seeking exemption u/s 10(23C)(iiiad)
No denial of sec. 12A registration merely on ground that trust was seeking exemption u/s 10(23C)(iiiad) No denial of sec.…
25th October 2018, Gauhati HC Judgement & CBDT view on Tax Audit Report & Return filing date Extension !
TAR & ITR due date extension expected again Gauhati High Court heard the writ petition filed by tax bar association,…
CORPORATE SOCIAL RESPONSIBILITY (CSR)
CORPORATE SOCIAL RESPONSIBILITY (CSR) “We make a living by what we get, but we make a life by what we…
Is Exemption u/s 54B available if assessee is co-owner of the agricultural land purchased?
Is Exemption u/s 54B available if assessee is co-owner of the agricultural land purchased? In this article we will discuss…
Negligence in reporting 40A(3) & 40(a)(ia) violation is Professional Negligence – CA awarded punishment of removal of his name from the Register of Members
Negligence in reporting 40A(3) & 40(a)(ia) violation is Professional Negligence – CA awarded punishment of removal of his name from…
 & 40(a)(ia) violation is Professional Negligence – CA awarded punishment of removal of his name from the Register of Members){kind=link}
 & 40(a)(ia) violation is Professional Negligence – CA awarded punishment of removal of his name from the Register of Members&description=&image=https://thetaxtalk.com/wp-content/uploads/2018/10/871-min.png){kind=link}