Taxmann's Analysis | Simplified Taxation Scheme for Charitable Trusts

· Taxmann Publications Private Limited
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About this ebook

As the Union Budget 2024 approaches, Charitable Trusts hopes for simplification amidst past complex amendments. With the Budget set for July 23, 2024, this article discusses key suggestions for the finance minister to streamline taxation for charitable trusts, benefiting small charitable entities. The coverage includes:

‣ Unified and Simple Tax Regime

‣ Presumptive-like Scheme for Taxation of Charitable Trusts

‣ Provide a Definition of ‘Commencement of Activities’

‣ Consequential Amendment to Section 13(9)

‣ Clarity on Applicability of Tax Audit under Section 44AB

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About the author

At the heart of Taxmann Publications lies the Research & Editorial Team, established from a cadre of Chartered Accountants, Company Secretaries, and Lawyers. This group, operating under the guidance of Editor-In-Chief Mr Rakesh Bhargava, is the cornerstone of Taxmann's commitment to delivering unparalleled content accuracy and reliability.

The team's mission is anchored in the principles of the Six Sigma methodology, with a steadfast goal of eradicating errors and upholding the highest standards of excellence in all publications and research outputs. Their rigorous content development process is informed by core guidelines, ensuring every piece of work is authoritative and insightful. These guidelines include:

• Sourcing – All statutory materials are derived exclusively from authorized and credible sources, guaranteeing the integrity of the information provided

• Current Awareness – The team prioritizes keeping readers well-informed of the latest judicial and legislative developments, ensuring content is both timely and relevant

• Analytical Insights – Special emphasis is placed on crafting analytical pieces on topical, contentious, and impactful issues, aiding readers in comprehensively understanding the nuances and implications of recent events

• Clarity and Accuracy – Taxmann pledges that every publication is thorough, precise, and articulated with clarity, serving as a reliable reference for complex subjects

• Evidence-based Referencing – Assertions and analyses are meticulously backed with references to relevant sections, circulars, notifications, or citations, enhancing the content's credibility

• Quality and Consistency – Adherence to the golden rules of grammar, style, and consistency is non-negotiable, ensuring a seamless and engaging reading experience

• Accessibility – The choice of font and size across all print and digital mediums is dictated by legibility and consistency, making information accessible to all readers

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