Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARD :: TDS :: ACCOUNTING STANDARDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: list of goods taxed at 4% :: VAT RATES :: form 3cd
 
 
News Headlines »
 Want To File Revised Income Tax Return? Or File Belated Return? 5 Things To Know
 Deadline for filing revised or belated income tax return for past two assessment years is March 31
 Quarterly GST returns filing may be extended to all companies
 How many times one can revise tax returns?
 Income tax exemption for FY19
 How will the new provisions really work?
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?

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 2018 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