Value of concessional medical and educational services deemed income, increasing taxability of charitable trusts providing such benefits. The amendment deems the value of medical and educational services provided by charitable or religious trusts running hospitals or educational institutions ... Summary
Value of concessional medical and educational services deemed income, increasing taxability of charitable trusts providing such benefits.
The amendment deems the value of medical and educational services provided by charitable or religious trusts running hospitals or educational institutions to specified classes of beneficiaries to be the income of the trust for the previous year, chargeable to income tax notwithstanding the general exemption for property held for charitable or religious purposes; "value" is defined as the benefit or facility granted free or at concessional rates.
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