🚨 Important Income Tax Updates for Jain Religious & Charitable Trusts 🚨 Recent

🚨 Important Income Tax Updates for Jain Religious & Charitable Trusts 🚨 Recently, in the two-day Shree Shraman Sangoshthi, respected CA Nitinbhai Doshi & Atulkumar Vrajlal Shah shared critical insights on Taxation of Trusts. These points are highly relevant for all Trusts and should be discussed in upcoming meetings. 🔑 Key Takeaways for Trusts: ✅ Restrictions on investment in gold & silver bars (except for use in religious purposes like ornaments). ✅ Updated rules for investments in shares / mutual funds. ✅ Mandatory compliance with DARPAN registration & correct trustee KYC. ✅ Donations above ₹2,000 must not be accepted in cash – cheque/online only. ✅ Strict adherence to TDS provisions – heavy penalties on non-compliance. ✅ Trustees personally liable for wrong or under-reporting of income. ✅ Maintain complete donation & asset records and ensure proper filings. ✅ Opportunities to claim property tax exemptions for temples & religious institutions. ✅ Importance of timely re-registration of 12A/80G to avoid taxation at 30%. ✅ Keep duplicate copies of trust deeds, registrations & property papers safe in multiple locations. 📌 The government & regulatory bodies are keeping a close watch on trusts. Proper compliance will not only safeguard assets but also save crores of rupees for religious & charitable causes.