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News Misc. - Direct Tax

  • May 22, 2019
  • CBDT for more exhaustive tax audit report for charitable trusts

    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. The draft notification has been put in the public domain and stakeholders have time till June 5 to submit their views. The proposed changes will extend the audit form to 8 pages from 3 pages earlier.