Khammam: I-T officials clear doubts of NGOs on tax payments

Khammam: The Income Tax department officials created awareness and also cleared doubts of voluntary organisations about the tax payments.

In the awareness conference organised here on Monday which was attended by AP, Telangana, Odisha Income Tax (Exemptions) Commissioner B Bala Krishna, Income Tax (Exemptions) Hyderabad Range Joint Commissioner V Koteswaramma.

Speaking on this occasion, Commissioner of Income Tax (Exemptions) B.Bala Krishna said that the awareness conference on IT returns was organised to increase transparency in the payment of taxes so that all those who come under the income tax pay tax.

He stated that an outreach programme has been organised under the auspices of the IT Department with the aim of creating awareness about the recent amendments in the Income Tax Act regarding charitable and spiritual organisations.

He said income tax exemptions for charitable organisations, the new change in the payment laws, extension of the deadline for filing Form 10A will be made widely aware of the new provisions in the law that specifically affect charitable organisations through a PowerPoint presentation on this policy.

He provided invaluable suggestions and advice on issues arising in tax payments and getting concessions, especially those affecting the management of companies.

Form 10A is one of the most important documents submitted by charitable organisations. Major issues like extension of deadline for filing application were discussed at length. Bala Krishna said that if the application is not applied within the fixed deadline of 30th of this month, 45 percent tax will have to be paid as per Section 115TD of the IT Act.