« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2026: CBDT Upgrades Income Tax Portal Ahead of July 31 Deadline Key Changes Every Taxpayer Should Know  Sold house for ₹1.10 crore, tax computed on ₹1.96 crore? ITAT explains when Section 54 relief is still available  ITR 2026: How Taxpayers Earning 25 Lakh to 1 Crore Can Save Up to 1.5 Lakh Under the New Tax Regime  Old vs New Tax Regime 2026: Which Saves More Tax If You Earn 13 Lakh?   Presumptive Taxation in 2026 Rebate Losses & Deductions Practical Impact of the Income Tax Act 2025  Income Tax Penalties Explained (2026): What Happens If You Under-Report Income or Miss Your ITR Filing «  Alleged cadres imposing 'godown tax'... I-T misses target by a mile, sets up a chase... » Tax exemption on grounds of charity to be closely scrutinised January, 05th 2009 To curb the misuse of tax exemption given to charitable organisations, the government will now closely scrutinise accounts of large entities, which include NGOs and trade bodies, after it was found that some of them were allegedly indulging in commercial activities. More than 60,000 assessees in seven metropolitan cities are claiming tax exemption under the Income-Tax Act. Large entities will now be closely scrutinised to check revenue loss, a Finance Ministry official said. Tax statements filed by such entities are by using the ITR-7 form, whose electronic version is not available, the official said, adding the voluminous paperwork involved makes it difficult to ascertain the revenue loss. According to I-T department officials, the Comptroller and Auditor General (CAG) and the higher courts of the country had also asked the department to scrutinise the accounts of such entities effectively. "The effort of the government and the Central Board of Direct Taxes (CBDT) is to make sure that no non-deserving business entity or institution is added to the list," a source said. The government, through the Tax Policy and Legislation division of the CBDT on December 19, 2008, brought out a circular in this context, which defines charity.