Charitable trusts under Income tax scanner for cash donations
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Top sources in I-T department said that the number of NGOs and trusts selected for income tax scrutiny have doubled compared to previous years. Of the trusts selected for scrutiny, Central Board of Direct Taxes (CBDT) has ordered complete scrutiny in 90% cases instead of limited scrutiny which was the norm during previous years.
Officials said that cash transactions of charitable trusts and NGOs are under scanner. The scrutiny of assessment year 2016-17 will begin from January, 2018.
A senior income tax officer said, "The cash transactions of trusts are under scanner, because we suspect that post-demonetization, many trusts may have been misused to divert cash in form of donations. A detailed comparative analysis of cash donations received by trusts during demonetization year in comparison to last three years will spill the beans on any foul-play."
In any assessment year, an average 10% of income tax returns are selected for scrutiny.
This year, the ratio of trusts and NGOs selected for scrutiny among other assesses is very high. #casansaar (Source - Times of India)
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