IN A SIGNIFICANT relief to charitable and religious trusts, the Central Board of Direct Taxes (CBDT) said on Wednesday that they can now apply for registration and approval to avail income tax exemption until September 30 this year.
The Finance Act, 2023 had amended the Income Tax Act to provide that the accreted income of the trusts that had not applied for registration or approval, within the specified time, would be liable to tax. The amendment came into effect from April 1 this year and applies to assessment year 2023-24 and subsequent ones.
Bu hikaye Financial Express Mumbai dergisinin May 25, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin May 25, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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