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of <h1>Amendment to Section 115BBC: 30% Tax on Excess Anonymous Donations for Educational, Medical, and Charitable Institutions</h1> Clause 42 of the Finance (No. 2) Bill, 2009 amends section 115BBC of the Income-tax Act, effective from April 1, 2010. It revises the taxation of anonymous donations received by certain educational, medical, and charitable institutions. The amendment specifies that income tax at a rate of 30% will apply to anonymous donations exceeding either 5% of the total income or one lakh rupees, whichever is higher. This change impacts the calculation of tax liabilities for institutions receiving such donations, applicable from the assessment year 2010-2011 onwards.
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