Chennai Online News Service - View News: "Bill to plug tax evaders introduced Search for More News
New Delhi, May 12: As part of efforts to tighten noose on tax evaders, Government today introduced a legislation in the Lok Sabha to prescribe mandatory filing of returns by charitable institutions.
The Taxation Laws (Amendment) Bill, 2005, which Finance Minister P Chidambaram promised in the budget, seeks to amend the Income Tax Act to streamline the approval and monitoring of charitable institutions and scientific research associations.
The bill, piloted by Chidambaram, prescribes filing of returns by charitable entities even with annual receipts below Rs one crore"
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