Tax reins tightened, charitable trusts have no margin of error

The Budget proposes a slew of amendments that would cost a charitable trust dearly for even the slightest slip — such as a few days’ delay in filing a renewal application. Tax exemption could be lost if there is a delay in filing the I-T return. Tightening of controls will make an already difficult existence for trusts even more challenging, state experts.

Lubna Kably

February 03, 2023 at 05:32AM