 "Tax collections, taxes")
The income-tax (I-T) authorities have tightened disclosure norms for charitable trusts. They now have to declare the nature of their activities from October 1 for tax purposes.
The Central Board of Direct Taxes (CBDT) has notified changes in reporting rules where the charitable institutions have to mention whether the activities undertaken are charitable, religious, or both to claim tax benefits.
The move will ensure that only genuine trusts and activities get tax benefits.
