Budget 2024-2025: Govt will reduce the tax for educational institutions.
Description:
The federal government proposed that the new budget would limit the tax credit for non-profit educational institutions at 80 percent and prevent possible misuse by other schools and colleges.
According to sources, it is proposed to cap the tax credit at 80 percent for NPOs that run educational institutions that also charge fees from students.
Its purpose is to prevent misuse of tax incentives by educational institutions. Currently, 100 percent tax relief is available to educational institutions run by national productivity organizations (NPOs)
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