The Income Tax Act, 1961 (‘IT Act’) provides for various benefits for trusts which are established for charitable or religious purposes and registered under the IT Act. Sections 11 and 12 of the IT Act are the substantive provisions for exemptions available to religious and charitable trusts. The exemption provided for under Sections 11 and 12 is, however, subject to certain restrictions provided under Section 13 of the said Act. This week’s podcast discusses the implications of Section 13 which purports to deny the exemption available in certain scenarios.
 
 Audio Source : An article published on the LKS website in August 2022
 https://www.lakshmisri.com/insights/articles/violation-of-section-13-of-the-income-tax-act-denial-of-entire-exemption-vs-partial-exemption/

Authors: Abhinov Vaidyanathan

Voice : Dikshita Damodaran