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Religion & Law

: Religion Clause

Proposed New Tax Law In India Will Impact Religious Trusts

By Howard M. Friedman

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The Times of India on Saturday reported that a group of religious trusts held a news conference to oppose certain provisions in the proposed Direct Tax Code pending in India's Parliament. Under the proposal, trusts or institutions created for the benefit of a particular caste or community would no longer qualify as non-profit organizations. The bill would subject them to a 30% income tax and to a wealth tax of 1% on their assets over a specified minimum. This will affect schools, orphanages, homes for the destitute and trusts that manage temples and other religious organizations.

Full post as published by Religion Clause on February 14, 2011 (boomark / email).

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