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of <h1>Finance Bill 2014: Clause 36 amends Section 115BBC, introducing 30% tax on certain anonymous donations for entities.</h1> Clause 36 of the Finance (No. 2) Bill, 2014, amends section 115BBC of the Income-tax Act, effective April 1, 2015, concerning the taxation of anonymous donations. The amendment specifies that income-tax payable by entities like universities, hospitals, and trusts will include a 30% tax on anonymous donations exceeding the greater of 5% of total donations or one lakh rupees. Additionally, the tax calculation will consider the income-tax the assessee would owe if their total income were reduced by the excess anonymous donations. This change applies from the assessment year 2015-16 onwards.
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