Charitable Trusts-Manner of Application of funds are outside the purview of CIT while examining application for registration u/s 12AA.

0 comments Wednesday, February 1, 2012

Punjab & Haryana High Court has held in the following case that while granting registration u/s 12AA to Charitable Trusts, Commissioner should examine genuinness of the objectives of the trust so as to grant registration u/s 12AA, rather than the manner of application of funds by the trust. The application of funds by the Trust has to be seen after the return is filed by the trust. It is also held that the quantum of activities undertaken by the trust after its creation cannot be a basis for examining registration application under section 12AA.
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Due date for submittimg ITR-V for A.Y 2011-12 extended to 31.03.2012 or 120 days whichever is later

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CBDT has extended the due date of submitting ITR-V form to Bangalore for the A.Y. 2011-12 to 31-03-2012 or 120 days whichever is later. ITR-V form is required to be submitted by ordinary or speed post to Bangalore CPC after efiling the return without digital signature, within 120 days of efiling the return
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