Key Points
The income tax department has made changes to the disclosure requirements for charitable institutions claiming income tax exemption..
Effective from October 1, the amendments to the Income Tax Rules mandate that charitable institutions must provide additional details regarding the nature of their activities..
Specifically, they will now be required to disclose whether their activities are categorized as charitable, religious, or a combination of both religious and charitable...
Nangia Andersen LLP Partner Vishwas Panjiar said the government had recently revamped the registration requirement applicable for charitable organisations for claiming tax exemption or obtaining an 80G certificate under the Act...
Under the Income Tax law, the income of charitable institutions, religious trusts, and medical and educational institutions are exempt from tax..
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