Indore (Madhya Pradesh): Dr Girish Ahuja from New Delhi, who is also known as tax guru, said that one trust should refrain from donating to another trust, while discussing about taxation of charitable and religious trust, society and NGO.
Registration of Trust Societies was very easy earlier but now the whole process has become very complicated. The trusts which have started their activities will now have to directly apply for permanent registration. Earlier they had to apply for temporary registration.
He was addressing the national tax conference that started in the city under the joint aegis of All India Federation of Tax Practitioners Association, Indore CA Branch and Tax Practitioners Association Indore here from Saturday. The conference was inaugurated by Vijay Pal Rao, judicial member, Income Tax Appellate Tribunal.
Mumbai's advocate and chartered accountant Bharat Raichandani while keeping his view on the topic GST arrest, recovery and prosecution said that after the introduction of GST the department made many arrests but there was no proper complaint behind it.
He said that arrests should be made only in exceptional cases because nowhere in the Act is it written that arrests can be made for tax recovery. Highlighting the real estate provisions of Income Tax, chartered accountant Naveen Khariwal said that the joint development agreement between the land owner and the developer should always be registered.
Unregistered agreement cannot protect any rights of both the parties.
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)