Ruling against tax exemption for private trusts, organisations or associations set up for charity but imposing high charges, the Supreme Court on Wednesday put the agencies through a test to determine their eligibility or otherwise. For instance, it observed that housing or industrial development agencies may resemble trade, commercial, or business activities but they should be exempted as their objects are essential for advancement of public purposes.
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No I-T relief for 'charity' if charges are high: SC
October 20, 2022
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