IT Dept withdraws tax exemption standing of ‘assume tank’ CPR
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On June 30 this yr, the Income Tax Department reportedly knowledgeable the ‘Centre for Policy Research (CPR),’ run by the daughter of Congress chief Mani Shankar Aiyar, concerning the withdrawal of its tax exemption standing.
While crying foul over the event on Wednesday (July 6), the controversial assume tank stated, “CPR maintains that it is fully compliant with the law and all its collaborations and partnerships are limited to research alone.”
It added, “Since the IT survey began in September 2022, CPR has provided detailed responses to various authorities and fully cooperated with all the proceedings. In response to the current order withdrawing our tax exemption status, CPR will be seeking &avenues of recourse that are available.”
An announcement pic.twitter.com/f1wLv3n9WQ
— Yamini Aiyar (@AiyarYamini) July 6, 2023
The Centre for Policy Research labelled the imitation by the Income Tax Department as a ‘severe blow that strikes at the core of its ability to function.’ It additionally claimed to proceed with its analysis, which supposedly contributes to higher insurance policies, strong public discourse and high-quality scholarship.
It have to be talked about that non-profits are entitled to tax exemptions below Section 12A of the Income Tax Act of 191. However, if an organisation fails to register below 12A or comply with the rules, its monetary recipes and transactions might be deemed taxable.
According to its web site, CPR has been in existence since 1973. It claims to be a non-partisan public coverage assume tank, which is supposedly targeted on supporting ‘scholarly excellence’.
Govt motion in opposition to Centre for Policy Research
In September 2022, earnings tax raids have been performed on the Delhi-based assume tank. In March this yr, the Foreign Contribution Regulation Act (FCRA) license of the ‘Centre for Policy Research (CPR)’ was suspended by the Central authorities.
As per a report by The Economic Times, its licence was revoked as a result of non-compliance with FCRA guidelines. CPR had filed for the renewal of the licence.
It said that through the interval of October 2022-December 2022, funds amounting to Rs 10.1 crore have been obtained from the Bill and Melinda Gates Foundation, the University of Pennsylvania, the World Resources Institute and Duke University.
The assume tank is headed by Yamini Aiyar, the daughter of controversial Congress chief Mani Shankar Aiyar.
