Section 11 provides exemption to income of registered charitable trust or religious trust whereas section 12 of the I.T.Act is all about the taxation of contribution received by the trust. For easy understanding of all , the conditions which is required to be fulfilled by a charitable trust or religious trust to get exemption under Income Tax Act , have been summed up…
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CBDT has clarified that the date of filing tax return to 17th October 2016 vide its order u/s 119 of the Income-tax Act, 1961 (‘Act’) dated 9th September, 2016 is also for obtaining the tax audit report under section 44AB . Read the explanatory circular below F. No. 225/195/2016-ITA II Government of India Ministry of […]
CBDT has extended the due date for filing tax return on ground of clash of dates with last date for declaration under the Income Declaration Scheme 2016 . It its circular dt 9th September 2016 , reasons cited by the CBDT to remove the inconvenience – “In order to remove inconvenience and to facilitate ease of […]
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The tax deduction u/s 80DDB of the Income Tax Act provides relief to tax payers who are individual or HUF and resident in India for any medical expenditure on the medical treatment of himself or herself or members of HUF who is suffering from specified disease like cancer or aids or other specified ailments.Unlike section...
About Prashant Thakur
The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.