Tax exemption for charitable trusts preserved where they run educational or medical facilities, subject to statutory income exclusions. A new provision preserves the exemption of charitable or religious trusts running educational or medical institutions by providing that exemption shall ... Summary
Tax exemption for charitable trusts preserved where they run educational or medical facilities, subject to statutory income exclusions.
A new provision preserves the exemption of charitable or religious trusts running educational or medical institutions by providing that exemption shall not be denied solely because the trust provided facilities to specified categories of persons, notwithstanding earlier subsections but without prejudice to the separate income-exclusion rule; the protection applies only to income other than receipts classified under that exclusion.
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