FM likely to drop the proposal to tax religious trusts
Nov 19, 2009 direct tax code
The finance ministry is likely to drop the proposal to tax religious trusts. The proposal formed part of the direct taxes code and had raised eyebrows both within and outside the finance ministry. “The issue has been raised in the finance ministry’s internal discussions. We are discussing whether the exemption was removed with intent or by mistake,” said a finance ministry official.
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Tags: charitable purposes, direct taxes, finance ministry official, government institutions, income tax act, religious monuments, religious purpose, religious purposes, religious shrines, tirupati devasthanams
Allowability of exemption to partly charitable and partly religious trust
Nov 6, 2009 Income Tax Case Laws
SUMMARY OF CASE LAW
A religious purpose can be a charitable purpose and vice versa in India; therefore, exemption cannot be denied to a trust which is partly charitable and partly religious.
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Tags: charitable institution, charitable objects, charitable purpose, charitable Trust, income tax act, religious case, religious institution, religious purpose, religious purposes, section 11