Anonymous donation tax imposed on excess contributions, taxed separately and treated as reducing assessable income for computation. The amendment requires computing income-tax at a fixed rate on the aggregate of anonymous donations received in excess of the higher of a specified percentage of total donations or a prescribed monetary threshold, and alternatively determines tax as the amount chargeable if the assessee's total income were reduced by the aggregate of anonymous donations received.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Anonymous donation tax imposed on excess contributions, taxed separately and treated as reducing assessable income for computation.
The amendment requires computing income-tax at a fixed rate on the aggregate of anonymous donations received in excess of the higher of a specified percentage of total donations or a prescribed monetary threshold, and alternatively determines tax as the amount chargeable if the assessee's total income were reduced by the aggregate of anonymous donations received.
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