448
June 29 To July 5, 2019 u Taxmann’s Corporate Professionals Today u Vol. 45 u 36(iii) Donation for infra-projects - The present
dispensation is planning to carry out certain
landmark projects like cleaning, linking of rivers
and laying of roads for better connectivity
between towns. Donation to such projects by
taxpayers may be given 100% deduction so
that such projects get public participation in
large scale, though it could lead to reduction
in tax collections. This marginal decrease
in tax collection could be compensated by
identifying new income-tax taxpayers besides
effective field level monitoring of movement
of goods for increasing GST collection.(iv) Taxing NPOs - Charitable trusts and
institutions have remained outside the tax
net and such tax relief is justified for the
reason that they provide and continue to
provide great service to the society at large.
A minimum tax levy at 5% of the income
subject to a maximum of ` 50,000 may be
imposed by making suitable amendments to
Income-tax Act.
lllEXPECTATIONS OF MSMEs