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TAX LAW AND CHARITY
Regulating charity without stifling it: The case for clearer rulesIndia's charity sector, vital for social needs, faces evolving regulations aimed at transparency. While scrutiny is accepted, current rules...- Reliance Foundation secures major win as ITAT overturns cancellation of charity registrationReliance Foundation has won a legal battle against the Income Tax authorities regarding the 'charitable' status of its Mumbai hospital. A t...
- I-T department to move Supreme Court against HC relief in public trust rowThe rift stems from the Income-tax department's demand that deeds of these religious and charitable trusts must categorically state that th...
- Wealthy Americans rushed to gift money early—now new tax law leaves many regretting the timingMany rich families in the US gave away money early to save tax before rules changed. Later, the government made those tax benefits permanen...
- Tax shadow over charitable trusts with 'profit' motiveThree top-notch hospitals in Mumbai and a famous international spiritual organisation-all functioning as charitable trusts-have been denied...
- Tata Trusts review trustee roles at two entities as Maharashtra law caps lifetime positionsTata Trusts is currently under the microscope due to its ongoing trustee appointments. Recent legislation in Maharashtra has placed limitat...
- Buckeye Trust ruling: How a single clause drafted without sufficient precision in trust deeds can trigger tax risk and derail estate planningWhether in trust deeds, corporate agreements or commercial contracts, even a single clause drafted without sufficient precision can signifi...
- $1,000 for kids? New ‘Trump Accounts’ could benefit one million children - who qualifiesNew Trump Accounts could give $1,000 to eligible children. Millions are already enrolled, and many families may still sign up. The savings ...
- Shadow of tax over charitiesWith the Supreme Court on two separate rulings on the same day laying down the principles for an educational trust and a general public uti...
- View: Charitable institutions' tax benefits were bound to garner controversyThe tax controversy centres around a variety of issues. In the context of educational and medical institutions, their 'sole' objective need...
- Charity needs some clarity, transparencyobjective to bring in more transparency in their running, and curb the flow of any tainted money is indisputable. The I-T law exempts all i...
- If you don't care about tax concessions, here are ways to donate and make a differenceBy stepping in to help, you can make a difference. However, you must not be the lazy donor who simply signs a cheque. You should be willing...
- Govt makes life more difficult for charity trustsThe registration for not-for-profits should be cancelled only if they are mismanaging funds or their objectives are not in the interests of...
- Set up Expert Group to look into violation by Tata Trusts: Parliamentary PanelThe committee in its report tabled in Parliament today noted with concern that the Public Charitable Trusts have repeatedly violated provis...
- PAC recommends probe into alleged tax violations by Tata TrustsIn the report, the sub-panel of the Public Accounts Committee on Direct and Indirect Taxes MP Nishikant Dubey, flagged several alleged viol...
- Obamas' gross income was over $400,000 in 2015: OfficialObama and the First Lady also reported donating $64,066 or about 14.7 per cent of their adjusted gross income to 34 different charities.
- I-T dept questions merit in granting exemption to Iskcon's restaurant chain GovindaAccording to the I-T Department, the restaurant’s activities and source of income clearly fall under the definition of "business".
- Charities, trusts to come under one law for more transparencyCharities and trusts across religions are set to come under a single law to ring in more transparency and smoothen their running in India a...
- FM to unveil direct tax code todayThe government would on Wednesday unveil the new Direct Tax Code that seeks to simplify and rationalise the tax provisions.
- India Inc turns generous to survive tax axeFor Rs 22,000 crore of donations in 2005-06, India Inc has claimed tax breaks of Rs 3,519 crore.
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