ITAT restores charitable status of Reliance Foundation Mumbai hospital
Business
Big news for Reliance Foundation's Mumbai hospital: the Income Tax Appellate Tribunal (ITAT) has brought back its charitable status after the tax department tried to cancel it, claiming the hospital was too commercial.
The ITAT said things like how much patients pay or fancy facilities aren't enough to call off a charity's registration.
Reliance Foundation hospital retains tax exemptions
With the ruling, Reliance Foundation's hospital keeps its tax exemptions for another five years.
The tribunal made it clear: as long as any extra money is put back into the hospital and not misused, that's still charity work.