_5dbd25719c615.jpg)
As per reports in the past, the Income Tax Department has rejected the registration of six entities run by Tata Trusts. The names of Jamsetji Tata Trust, RD Tata Trust and Tata Education Trust have also been included in these. These institutions decided to end their registration in the year 2015 itself and not claim any income tax exemption. The Income Tax Department's Mumbai-based Principal Income Tax Commissioner's office on Thursday ordered these registrations to be dismissed. In a statement, Tata Trusts said the law-abiding facility of returning the registration was used in the trust's best interests. With this decision, these institutions will be able to fully utilize the resources available to the trusts in philanthropy.
LPG cylinder prices increased for the third consecutive month, know new rate
As far as the Income Tax Department is concerned, the Income Tax Department has rejected these registrations with immediate effect. But Tata Trusts said that the department will cancel registration from the year 2015, keeping in mind the decision of its own past. The trusts also clarified that the Income Tax Department has not sent them any tax notice.
Big rise in gold prices, prices reached the highest level since September
Tata Trusts said in a statement on Friday that the decision to return the registration has been taken in view of increasing the resources available for charity. According to the statement of the Mumbai office of the Principal Commissioner of Income Tax, registration of these trusts has been canceled on the basis of his Thursday order.
