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Income Tax department cancels benefits given to PFI under 12AA

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The Income tax department has cancelled the benefits given to the PFI under 12AA. Significantly, there were reports that the PFI is engaged in activities to carry out terrorist activities in India. The step taken by the Income Tax department is considered as a major decision. According to this decision of the IT Department, PFI will not be able to collect funds from foreign.
Category
Asia
Tags
Foreign Funding, Income Tax Department, India
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