IMPACT OF DRAFT DIRECT TAX CODE BILL 2009 ON CHARITIES AND VOLUNTARY SECTOR OF INDIA
In its latest one sided experimentation with voluntary sector, the Finance Ministry came out with 'Direct Tax Code Bill', on August 12, 2009. The initial observation on these codes, applicable to all voluntary organizations of India, predicts a very gloomy future. On the one hand the government promises decent life to "Aam Admi" (common people), and on the other, the country is going through a challenging phase due to financial recession and failure of crops, it is very unfortunate that those who are working hand in hand with government to serve the marginalized and the poor are being targeted. The preliminary listing of the
changes proposed in the new Direct Taxes Code 2009 appears to lead to several adverse implications for the voluntary sector and may perhaps undermine its financial sustainability and survival in the long run.