Charitable institutions may come under the tax net from this budget. The proposal is expected to yield more than Rs 6000 crore each year.
At present, charitable institutions enjoy tax free status under sections 11 to 13 of the Income Tax Act, 1961 provided such trust or society is registered as such under section 12AA. Donations to such institutions are also exempt from income tax at different percentages under section 80G of the Act.
But the finance ministry is concerned over the
