Charitable Trust

Charity is a human instinct that drives man to gauge favorably of others and do them good. In our country the benevolent government agency played by openhearted and religious trusts has historical compass and their existence has originated from the basic cultural traits peculiar to us. By tradition, private Donation in our country has been playing a precise special and prominent role in enriching our cultural heritage and in catering to the education, medical, socio-economic and religious needs of people. In doing so, it has supplemented the wee-wee of a welfargon state, and the state in turn has recognize its contribution by giving generous tax treatment to the donation given to benevolent institutions and also to the Income thereof utilise for worldly concern, religious or tender purposes. Since the tax concessions afforded to these institutions involve a sacrifice of world revenues, it became imperative to ensure that tax privileges ar non abused and they are enjoyed only by those charitable and religious institutions, which deserve them.

Therefore it is a matter of capacious importance to study the provisions of police governing the debut of a charitable trust as also the law specifying the conditions and circumstances which, when satisfied, would entitle it to enjoy exemption from tax. Charitable institutions are entitled to exemption from tax under section 11 in respect of certain incomes derived from property which are held for charitable/religious purposes. According to section 2(15), charitable purpose includes: - simplicity of poor education medical relief any other object of general public utility Now, What is general public utility ? Object of general public utility does not imply that to be a charitable purpose the object should be beneficial to whole mankind. It is not even necessary that it should be... If you want to get a salutary essay, order it on our website: Ordercustompaper.com

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