Income Tax Registration
Deemed Application
Inter Charity Donations
Forfeiture of Exemption
NGOs & Business Activity
Treatment of Capital Gains
Privileges u/s Section 80G
Privileges u/s Section 35AC
Audit and Filing the Return
Accumulation and Investment
Permanent Account Number
Tax Deduction Account Number
Tax Calendar for 2010-11
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News
Tax Slabs for Financial Year 2010-11
TDS(tax deducted at Source) Rate chart For Financial Year 2010-11
Salient Features of Budget 2010
An Appeal to Finance Minister on Direct Tax Code for NPOs
Analysis of Direct Tax Code Bill 2009
Proposed Amendments in TDS rates as per Finance Bill 2009
Queries on the Income-Tax Act, 1961
Q1 : Whether the Income-tax Act, 1961 is applicable to all the Voluntary Organisations who are engaged in socio-economic development programmes in India ? Please clarify.
Q2 : Whether the Income Tax Act, 1961 is applicable to NGO's located in North East India or in District of Ladakh ? Please clarify.
Q3 : Whether it is necessary for an NGO to file a Return of Income with the Income tax Department? If so, under what circumstances are the NGOs totally exempt from filing the Return of Income with the tax authorities ?
Q4 : What is the procedure for registration of an NGO with the Income Tax Department ?
Q5 : Whether it is necessary for an NGO to be registered as a Charitable Society or a Public Trust for seeking registration under Section 12A of the Income tax Act, 1961?
Q6 : Whether all kinds of receipts (Capital or Revenue) are treated as a part of income ? Whether any category of receipt is exempted ? Please clarify. Whether donations to corpus Fund is a "Revenue receipt" or a "Capital Receipt" ? Further, whether it is exempted from being shown as income in the Income-tax Return or not ?
Q7 : Whether interest earned on investments of Corpus Fund is taxable or is it exempt from Income-tax Act ?
Q8 : Whether a donor can make a contribution to the Corpus Fund with certain conditions and/or qualification to be fulfilled by the recipient ? If so whether same will be treated as donation to Corpus Fund or not ?
Q9 : Whether a donor who has made a contribution to the Corpus Fund has a right to call-back the amount of contribution to the Corpus Fund made by him ? If so what would be the treatment in the year of refund ?
Q10 : What is the method of calculation of the application of income for charitable or religious purposes in a particular year ?
Q11 : Whether 100% of the income (receipts) during a particular year is to be utilised in that same year or whether it can be accumulated ? If so under what circumstances and to what extent ?
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