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
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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