Closer scrutiny of trusts and institutions on cards, draft rules out – Prateek Agarwal
The Central Board of Direct Taxes (CBDT) has proposed amendments to the tax audit report for charitable trusts and institutions, which would require additional details from assessees in the form of status of registration under the Income Tax Act, compliance to conditions for application and registration status under the Foreign Contribution Regulation Act (FCRA), 2010, among others.
Prateek Agarwal, Partner- & Assurance, Nangia Andersen India Pvt. Ltd. shares his views on aforementioned story for following publications:
- Economic Times- Standalone story
- Financial Express- Standalone story
- Indian Express