The government has asked trusts to share the identities of relatives of trustees, settlors, and substantial contributors, along with information about electronic and other modes of payments
The Finance Bill proposes that if a charitable organisation donates to another charity then only 85 per cent of the donation will be considered as application of income for the donor organisation
The Trusts further clarified that this order of cancellation is a culmination of the decision taken by these six Trusts in 2015 to surrender, of their own volition, their registration under the Income