« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?  Full List Of Trump's Reciprocal Tariffs Announced Wednesday  Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025  5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025  March 15 is deadline for last advance tax installment: Know if you must pay «  Alleged cadres imposing 'godown tax'... I-T misses target by a mile, sets up a chase... » Tax exemption on grounds of charity to be closely scrutinised January, 05th 2009 To curb the misuse of tax exemption given to charitable organisations, the government will now closely scrutinise accounts of large entities, which include NGOs and trade bodies, after it was found that some of them were allegedly indulging in commercial activities. More than 60,000 assessees in seven metropolitan cities are claiming tax exemption under the Income-Tax Act. Large entities will now be closely scrutinised to check revenue loss, a Finance Ministry official said. Tax statements filed by such entities are by using the ITR-7 form, whose electronic version is not available, the official said, adding the voluminous paperwork involved makes it difficult to ascertain the revenue loss. According to I-T department officials, the Comptroller and Auditor General (CAG) and the higher courts of the country had also asked the department to scrutinise the accounts of such entities effectively. "The effort of the government and the Central Board of Direct Taxes (CBDT) is to make sure that no non-deserving business entity or institution is added to the list," a source said. The government, through the Tax Policy and Legislation division of the CBDT on December 19, 2008, brought out a circular in this context, which defines charity.