MUMBAI: The board of trustees of Sir Dorabji Tata Trust may meet next week to review the situation arising out of the income-tax department’s order withdrawing tax exemption to the philanthropic body. He is currently the managing trustee of the body.At least five people close to the trusts said his position would be discussed in detail at the upcoming meeting. “Tata Trusts will hold a meeting soon to discuss the issue in its entirety,” said a top official close to the development. Almost the entire revenue of Sir Dorabji Tata Trust comes from dividend and interest. Therefore, Venkataramanan’s remuneration cannot be treated as reasonable, the tax department said.The order also pointed out that AN Singh, a former senior executive in Tata Steel, who upon retirement took over as the managing trustee of Sir Dorabji Tata Trust, was paid much less than Venkataramanan.

Source: Economic Times February 08, 2019 01:29 UTC