Tax exemption of Rs. 175 cr to Shirdi Sai Baba Temple, know why

The Income Tax department has granted tax exemption of Rs. 175 crore to Sri Saibaba Sansthan Trust in Shirdi.

In Shirdi, the Sri Saibaba Sansthan Trust has been exempted from the payment of income tax of almost Rs 175 crore imposed in the last three years, one of its officials said on Friday.

As per sources, the Supreme Court ordered and granted the exemption.

A popular agency reported that, in the year 2015-16, while assessing the tax, the Income Tax Department assumed that Shri Saibaba Sansthan was not a religious trust but a charitable trust, and it imposed 30 percent income tax on the donations received in the donation box and issued a tax payment notice of 183 crore.

After the IT department issued a tax payment notice, the trust filed a writ petition in the Supreme Court which “ordered a stay on the tax payable till the determination of tax,” it said.

The Income Tax Department finally granted it exemption from the tax imposed on the donation in the donation box. The IT depaertment accepted the Shree Saibaba Sansthan as a religious and charitable trust.

The release mentioned that Sri Saibaba Sansthan has been free from paying income tax of Rs 175 crore that has been imposed in the last three years.

Source: Mint

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