The cancellation of registration of six Tata Trusts by the Income Tax Department is just the latest in its efforts to ensure that only genuine charitable institutions get benefits.
Tax experts claimed through the Tata Trusts had offered to surrender the registration, in most other cases, complying with the various provisions governing charitable trusts are becoming tougher.
Over the last few years, the Central Board of Direct Taxes (CBDT) made a number of changes for these trusts to claim tax exemption in a transparent manner.
For instance, the new norms for cancellation of registration of such trusts announced in the Budget this year and the new income-tax return forms for assessment year 2019-20 that require a lot more disclosures.
This story is from the December 10, 2019 edition of The Hindu Business Line.
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This story is from the December 10, 2019 edition of The Hindu Business Line.
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