Alessandro Bogliari, CEO and Co-Founder of The Influencer Marketing Factory, a global influencer marketing agency, talks with great guests about influencer marketing, social media, the creator economy, social commerce and much more.
…
continue reading
Content provided by Lakshmikumaran & Sridharan Attorneys. and Sridharan Attorneys.. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Lakshmikumaran & Sridharan Attorneys. and Sridharan Attorneys. or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Player FM - Podcast App
Go offline with the Player FM app!
Go offline with the Player FM app!
Deemed application provision causes uncertainties for donation aggregators.
MP3•Episode home
Manage episode 366257723 series 2986897
Content provided by Lakshmikumaran & Sridharan Attorneys. and Sridharan Attorneys.. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Lakshmikumaran & Sridharan Attorneys. and Sridharan Attorneys. or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Recently, an amendment was brought in through the Finance Act 2023 in section 11 of the Income Tax Act, 1961, through which only 85% of the total sums paid or credited by one charitable entity to another charitable entity will be deemed to be “application” towards charitable purposes. This amendment was brought in to discourage the practice of forming multiple layers of charitable entities in order to retain more than 15% at each stage. However, it may seriously impact those charitable entities which are working on channelizing the donations by aggregating donations from multiple donors and applying almost whole of the donations by contributing to charitable entities engaged in actual application towards end causes. Thus, these charitable entities that act as aggregators can be subject to taxation at maximum marginal rates in spite of applying almost 100% of the donations received by it by way of donations to other charitable entities. This deeming provision causes uncertainty for the charitable entities, and a clarification from CBDT in this respect would be welcome.
Link: Deemed application provision causes uncertainties for donation aggregators | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in May 2023.
Authors: Sanjhi Agarwal and Prachi Bhardwaj
Host: Arpit Mehra
Expert: Sanjhi Aggarwal
Audio Source: An article published on the LKS website in May 2023.
Authors: Sanjhi Agarwal and Prachi Bhardwaj
Host: Arpit Mehra
Expert: Sanjhi Aggarwal
165 episodes
MP3•Episode home
Manage episode 366257723 series 2986897
Content provided by Lakshmikumaran & Sridharan Attorneys. and Sridharan Attorneys.. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Lakshmikumaran & Sridharan Attorneys. and Sridharan Attorneys. or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Recently, an amendment was brought in through the Finance Act 2023 in section 11 of the Income Tax Act, 1961, through which only 85% of the total sums paid or credited by one charitable entity to another charitable entity will be deemed to be “application” towards charitable purposes. This amendment was brought in to discourage the practice of forming multiple layers of charitable entities in order to retain more than 15% at each stage. However, it may seriously impact those charitable entities which are working on channelizing the donations by aggregating donations from multiple donors and applying almost whole of the donations by contributing to charitable entities engaged in actual application towards end causes. Thus, these charitable entities that act as aggregators can be subject to taxation at maximum marginal rates in spite of applying almost 100% of the donations received by it by way of donations to other charitable entities. This deeming provision causes uncertainty for the charitable entities, and a clarification from CBDT in this respect would be welcome.
Link: Deemed application provision causes uncertainties for donation aggregators | Lakshmikumaran & Sridharan Attorneys (lakshmisri.com)
Audio Source: An article published on the LKS website in May 2023.
Authors: Sanjhi Agarwal and Prachi Bhardwaj
Host: Arpit Mehra
Expert: Sanjhi Aggarwal
Audio Source: An article published on the LKS website in May 2023.
Authors: Sanjhi Agarwal and Prachi Bhardwaj
Host: Arpit Mehra
Expert: Sanjhi Aggarwal
165 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.