Baba Ramdev’s Patanjali to Operate Tax-Free Thanks to Yoga
The Income-tax Appellate Tribunal has given Baba Ramdev’s Patanjali Yogpeeth tax-exemption status
The Income-Tax Appellate Tribunal has given Baba Ramdev’s Patanjali Yogpeeth (a public charitable trust) tax-exemption status.
The Delhi bench of the tribunal ruled that Patanjali Yogpeeth involves providing medical relief and its camps impart education, therefore it’s activities can be deemed ‘charitable’, thus granting the I-T exempt status under sections 11 and 12 of the Income Tax Act.
The Delhi branch of the tribunal held that yoga provides medical relief and and camps also providing education can be exempt under sections 11 and 12 of the Income Tax Act.
Yoga and I-T Exemptions
In 2006 the ITAT made an amendment in the I-T Act which specifically inserted ‘yoga’ within the definition of ‘charitable purpose’.
The tribunal added that the corpus donations aggregating to Rs 43.98 crore received by Patanjali Yogpeeth, largely for construction of cottages under its ‘Vanprasth Ashram’ Scheme (which provides accommodation to those attending residential yoga courses), were capital receipts and were thus not liable to I-T, according to The Financial Express
Patanjali Yogpeeth in Haridwar, Uttarakhand, is one of the largest yoga institutes in India Named after the Rishi Patanjali, the institute is Baba Ramdev's most easily recognized project.
Its purpose is to research and develop yoga and ayurveda, as well as manufacture ayurvedic medicines en masse.
Though Ramdev is the brand ambassador and Balajee overseas Patanjali’s 5,000 clinics, all parties are set to gain from the tax exempt status.
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