Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: cpt :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: form 3cd :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you
 Income Tax department activates e-filing facility for all ITRs
 All the income-tax return forms for the current assessment year are available online
 New GST – CONCEPT & STATUS – As on 01st May, 2017

ITAT makes trusts' registration with I-T Dept easier
March, 21st 2008
Making it easier for trusts to register themselves with the Income Tax Department, the tax tribunal has ruled that registration process would be deemed to be complete if the application is not rejected by the concerned official within the stipulated period of six months.

The Income Tax Appellate Tribunal (ITAT) in Devraha Baba Trust case held that department cannot reject the registration of application after the expiry of six months, even if it has raised some queries before the expiry of the six-month period.

" ...it is mandatory for the CIT (Commissioner of Income Tax) to dispose of the application for registration within six months from end of the month in which the application was filed," the order said.

In the Devaraha Baba Trust case, the CIT refused registration to the trust after the expiry of six months, though it had initiated some enquiries within the stipulated period.

On an appeal by the Trust against the decision of the CIT, the tribunal said, "the orders (for acceptance or rejection by the CIT) have to be passed within the time limit prescribed and if not, the application should be deemed to have been granted."

The ITAT further said that once the registration is granted, "there is nothing in law to prevent the CIT from making his own enquiries even after the expiry of time limit and making use of the results thereof to cancel the registration..."

Under the Income Tax Act, it is mandatory for a trust, set up for charitable or religious purposes, to get itself registered with the Department to claim income tax exemptions.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions