sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?

Government to look into abolishment of income tax exemption to charity organisations: report
April, 28th 2014

The government will look into abolishment of income tax exemptions given to to charity organisations in its budgetary exercise for the year 2014, according to an RTI response from the Central Board of Direct Taxes.

It also said that It could not trace files related to proposals for giving income tax exemptions to political parties on donations and fundings received by them.

"Records available with TPL division were thoroughly searched. However, no files/records relating to introduction of the referred provisions from exempting political parties from income tax on funding/donations received by/made to them could be traced," the response said.

RTI activist Subhash Agrawal had made a suggestion to the Central Board of Direct Taxes that income tax exemption for donations made to and received by NGOs (non-government organisations) for charity and other purposes should be abolished.

"Preventing revenue loss by abolishing all types of income tax exemptions in respect to NGOs, charitable institutions, political parties etc will be provide added funds to government for development purposes," he had said.

In response to his RTI application, the CBDT said, "The suggestions presented by you in regard to abolishing of income tax exemptions for charity and other purposes, the same are being taken up in the form of pre-budget memorandum in respect of the upcoming budgetary exercise for 2014."

Section 2(15) of the Income Tax Act, 1961 defines a "charitable purpose" to include relief of the poor, education, medical relief, and advancement of any other object of general public utility.

However, a public utility activity cannot be treated as "charitable" if it involves carrying out of any activity in the nature of trade, commerce or business.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions