Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Donation deduction to specified funds allowed subject to statutory limits, payment method and verification requirements. Clause 133 establishes tax deductions for donations to specified funds and institutions, distinguishing full deduction recipients from those eligible for ... Summary
Donation deduction to specified funds allowed subject to statutory limits, payment method and verification requirements.
Clause 133 establishes tax deductions for donations to specified funds and institutions, distinguishing full deduction recipients from those eligible for a limited deduction; it conditions deductibility on monetary payment, non-cash modes for donations above the cash threshold, institutional reporting and verification, an overall ceiling tied to adjusted gross total income for certain subcategories, and prohibition of double deduction. Definitions specify adjusted gross total income and exclude wholly or substantially religious purposes from "charitable purpose."
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