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Feb 04, 2023
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Tax reins tightened, charitable trusts have no margin of error
The Budget proposes a slew of amendments that would cost a charitable trust dearly for even the slightest slip — such as a few days’ delay in filing a renewal application. Tax exemption could be lost if there is a delay in filing the I-T return.
Tightening of controls will make an already difficult existence for trusts even more challenging, state experts.
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