Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty. CBDT further extends the time for Linking PAN with Aadhaar till 30th June, 2018.

Non-disposal of an application within six months would result in deemed grant of trust registration: HC

Section 12A, read with section 12AA of the Income-tax Act, 1961 - Charitable or religious trust - Registration of (Deemed registration) - Whether deemed registration under section 12A would be applicable only after expiry of six months from date of application - Held, yes - Whether where assessee-society filed an application under section 12A for grant of registration and same was responded after nine months, registration was deemed to be granted automatically on expiry of six months period as specified in section 12AA(2) - Held, yes

Refer:[2018] 96 taxmann.com 356 (Kerala)


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