Tag Archives: charitable institution

No Income Tax Exemption to Schools with no Free Education :HC

By | April 17, 2020
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No Income Tax Exemption to Schools with no Free Education or Scholarships :HC Trust Deed states that the fees and charges shall be fixed taking into account the cost of running including future development thereof though without an element of profit motive indicates that the actual intention of the trust is only to generate income… Read More »

Levy of tax where charitable institution ceases to exist or converts into a non-charitable organization

By | March 4, 2016
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Finance Bill 2016 Levy of tax where the charitable institution ceases to exist or converts into a non-charitable organization The existing provisions of section 2(24) of the Act define “Income” in an inclusive manner. Any voluntary contribution received by a charitable trust or institution or a fund is included in the definition of income. Sections 11… Read More »