New form for Donation Reporting to Income Tax Department I Trust I Form 10BD I10BE
New form for Donation Reporting to Income Tax Department I Trust I Form 10BD I10BE I CA Satbir Singh
Tag Archives: Trust
Deemed approval of Trust Registration if not approved in 6 months : HC
Deemed approval of Trust Registration The Tribunal held that once the limitation prescribed under section 12AA of the Act expired and the consequential default on the part of the CIT(E) in deciding the application would result deemed grant of registration is a settled proposition. Therefore, it has been held by the Tribunal that the judgment… Read More »
Indian Govt invited comment on fair market value rules for trust or institution
Government invites comments by 31st October, 2016 from stakeholders and general public on Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961. The Finance Act, 2016, inter alia, inserted a new Chapter XII-EB consisting of sections 115TD, 115TE… Read More »
Draft valuation rules for fair market value in Trust or Institution under Income Tax Act 1961
F. No. 370142/21/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, dated 24th October, 2016 Subject: Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg. The Finance Act,… Read More »
Tax on Accreted income of Certain Trust and Institutions
As per Section – 62, Finance Acts – 2016 After Chapter XII-EA of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of June, 2016, namely:— ‘CHAPTER XII-EB SPECIAL PROVISIONS RELATING TO TAX ON ACCRETED INCOME OF CERTAIN TRUSTS AND INSTITUTIONS 115TD. Tax on accreted income.—(1) Notwithstanding anything contained in… Read More »