CHARITABLE TRUSTS IN INDIA
NGOs lose foreign donation nod for failing to use funds
The Indian government is taking action against non-profits holding unused foreign funds. Registrations are being cancelled for organizations that have not utilized foreign donations received years ago. A new bill aims to further tighten controls, potentially freezing funds and restricting asset management for these entities. This signals a shift towards greater accountability in the non-profit sector.
Tata Trusts to amend Bai Hirabai Trust deed, trustee eligibility clauses under review
Tata Trusts trustees will seek to change rules in the Bai Hirabai Trust deed. These rules previously barred non-Zoroastrians from becoming trustees. This action follows a complaint by a former trustee. The trust deed's restrictive clauses are being reviewed. The aim is to align the trust with inclusive values. This move addresses eligibility criteria for trustees.
Govt may hike FDI limit in pension sector; Bill likely in Monsoon Session
The government is poised to significantly boost foreign direct investment in the pension sector, potentially raising the limit to 100%. A bill to this effect is anticipated in upcoming parliamentary sessions. This move mirrors the insurance sector's recent FDI liberalization. Additionally, proposals include separating the NPS Trust from the PFRDA, aiming for independent management.
Autism Acceptance Month: Care, from beyond the spectrum
Families raising autistic children face a daunting financial future. India's systems fall short in providing lifelong support and structured pathways for adults with autism. This necessitates early financial planning, but current infrastructure and financial instruments are inadequate.
Venu Srinivasan backs listing of Tata Sons
The Reserve Bank of India is expected to issue a revised circular on upper-layer NBFCs soon. The RBI's scale-based regulation (SBR) framework for NBFCs is under review. Officials have suggested that Tata Sons may not receive the RBI exemption it has sought from the upper-layer classification to avoid listing.
Tata Trusts row deepens as vice-chairmen allege concealment, forced resignation
Tata Trusts is in the spotlight as CEO Siddharth Sharma demands the resignation of vice-chairmen Venu Srinivasan and Vijay Singh. The two members assert that Sharma did not disclose a vital legal assessment from ex-CJI M.H. Kania related to eligibility criteria. While Srinivasan has resigned, Singh is yet to follow suit.
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ITR filing: 4 disclosures you need to be ready with in new financial year
India’s tax department has rolled out updated ITR forms for FY 2025–26, introducing tighter disclosure norms while keeping the overall structure unchanged. The changes focus on greater transparency—especially around political donations, F&O trading, and digital payments—while adding minor conveniences like a secondary address field.
Religion is no disqualification for trustees: Tata Trusts note
Tata Trusts has opened its doors wider, confirming that non-Zoroastrians are eligible to serve as trustees of the Bai Hirabai JN Tata Navsari Charitable Institution. This decision emerges in light of a challenge regarding the qualifications of trustees Venu Srinivasan and Vijay Singh.
Tata Trusts row deepens as Venu Srinivasan exits Bai Hirabai Trust amid eligibility challenge
Venu Srinivasan has resigned from the Bai Hirabai Jamsetji Tata Navsari Charitable Institution. This move follows a dispute over his eligibility as a trustee. Another trustee, Mehli Mistry, challenged Srinivasan and Vijay Singh's qualifications. Mistry claims they do not meet the Parsi Zoroastrian faith and Mumbai residency requirements. Srinivasan cited other business commitments for his departure.
₹300 crore+ in bank deposits, Kodaikanal land and ₹12.6 crore loan to wife Sangeetha; Check TVK chief Vijay's ₹600 crore assets
Vijay's Election Affidavit: Actor and TVK chief Mr. Vijay has declared total assets worth Rs 603.20 crore in his election affidavit filed ahead of the Tamil Nadu Assembly polls. The declaration includes Rs 404.58 crore in movable assets — with over Rs 213 crore parked in Indian Overseas Bank deposits — and Rs 198.62 crore in immovable assets, including agricultural land in Kodaikanal and multiple properties in Chennai.
Can banks touch your pension for loan default? J&K HC allows bank to recover guarantor dues due to this reason
The Jammu and Kashmir High Court ruled that a bank can recover loan dues from a pensioner's account once the pension is credited. The court upheld a bank's deduction of Rs 4.64 lakh from a retired officer's pension account after he defaulted as a guarantor for a home loan, stating pension loses statutory immunity upon crediting.
Amitabh Bachchan buys fourth property in Ayodhya. Latest land worth Rs 35 crore
Bollywood veteran Amitabh Bachchan has acquired a 2.67-acre plot in Ayodhya for approximately ₹35 crore from House of Abhinandan Lodha (HoABL). This marks his third property purchase with HoABL and fourth overall in the temple city, further solidifying his real estate interests near The Sarayu project.
Charitable trusts challenge I-T dept's irrevocability clause
Several public charitable trusts have challenged the Income Tax Department’s insistence that trust deeds must explicitly state they are “irrevocable” to retain tax-exempt status. Trusts and professional bodies argue that the law does not require such a clause and that public trusts are inherently irrevocable unless expressly stated otherwise. The matter is now before the Bombay High Court, with concerns that denial of registration renewals could jeopardise longstanding charitable institutions.
Noel Tata, board clash on term three for Chandrasekaran; issue deferred
Tata Sons chairman N Chandrasekaran sought to postpone his reappointment for a third term. A board meeting revealed differing views, notably from Tata Trusts chairman Noel Tata. Concerns were raised about the performance of group businesses like Air India and newer ventures. Chandrasekaran proposed the deferral to ensure alignment between Tata Sons and Tata Trusts.
Front-of-pack labelling: SC seeks FSSAI response
The Supreme Court has asked the Food Safety and Standards Authority of India for its stance on introducing front-of-pack warning labels for packaged foods high in sugar, salt, and saturated fat. This move aims to help citizens make healthier choices. The court expressed dissatisfaction with the FSSAI's current research, emphasizing the importance of the right to health.
Maha Shivratri 2026: Unlock the Spiritual Secrets of This Sacred Night for Your Career, Love & Karma, Cosmic Insights, Timings & Transformative Energy
Maha Shivratri 2026, falling on Saturday, February 15, is one of the most powerful nights of divine transformation. Dedicated to Lord Shiva, it holds deep astrological and spiritual significance, shaping destiny, cleansing karmic patterns, and amplifying personal growth. This sacred night not only enhances spiritual awareness but also influences key areas of life including career, love, and karma, offering a cosmic reset for those aligned with its divine vibration.
I-T department tells charitable trusts to add 'irrevocable' clause or lose tax benefits
India’s Income Tax Department is pushing charitable trusts to include an ‘irrevocable’ clause in their trust deeds or risk losing key tax benefits under Sections 12A and 80G. Several trusts have already faced rejections, raising concerns among non-profits about stricter scrutiny, foreign spending rules, and tighter compliance norms.
Shadow of tax over charities
With the Supreme Court on two separate rulings on the same day laying down the principles for an educational trust and a general public utility, and now the Income Tax Appellate Tribunal giving its ruling based on the SC judgements, chances are the I-T department would look at many charitable trusts through the prism of these verdicts.
View: Charitable trusts must not exert corporate control
A charitable trust cannot invest money in shares. But that privilege continues for the Tatas and Birlas.
Merck India Charitable Trust Scholarship program launched in Bengaluru
Nitin Singh, country speaker, Merck India said that access to education is a priority intervention area for the company in India.
Set up Expert Group to look into violation by Tata Trusts: Parliamentary Panel
The committee in its report tabled in Parliament today noted with concern that the Public Charitable Trusts have repeatedly violated provisions of the Income Tax Act.
Many charity hospitals misuse tax breaks: CAG
Many charitable trusts receiving significant amounts in gross receipts were not being selected for scrutiny by the I-T department, according to CAG.
View: Charitable trusts shouldn't control big biz houses
Trusts must be prohibited from holding more than 1% of the shares of any for-profit company or Rs 5 crore, whichever is more.
Devise mechanism to check misuse of tax exemptions: Report
A Parliamentary panel suggested that the government look at the provisions afresh and devise a procedure for systemic evaluation of such institutions.
24-hour female helpline 'Saheli' launched in Jammu
A 24-hour helpline 'Saheli', aimed at providing support to the female victims of domestic violence and other crimes, was launched today.
Government mulls making PAN must for registering charitable trusts
To keep a tab on funds flowing through charitable trusts, the government plans to make it mandatory for such entities to provide their Permanent Account Number (PAN) prior to registration.
Many trusts run by business houses abused I-T exemptions: CAG
The government's statutory auditor has found that many trusts run by business houses and sports bodies have abused the income tax exemptions.
CAG questions Rs 3,000 crore of investments by two Tata trusts
A detailed audit by the CAG of some major trusts run by business houses and sports bodies has allegedly revealed misuse of income tax exemptions granted to them.
Rs 3,000 crore lost as tax rebates to NGOs, trusts: CAG
Government has given away more than Rs 3,000 crore by way of tax exemptions to some non-deserving big charitable organizations and trusts.
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