I-T steps up scrutiny of charitable trusts
Synopsis The Income Tax Department is intensifying its review of charitable trusts and non-profits, demanding detailed fund utilisation and governance information. This intensified scrutiny follows
Synopsis The Income Tax Department is intensifying its review of charitable trusts and non-profits, demanding detailed fund utilisation and governance information. This intensified scrutiny follows the detection of discrepancies in filings with various regulators. Hundreds of trusts, particularly those receiving foreign funds, are facing queries to ensure money is used solely for approved charitable purposes, enhancing data for tax assessments.
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