Anonymous donations taxation: excess anonymous receipts attract a separate tax plus recalculated income-tax liability. The amendment to section 115BBC imposes a two-part tax on anonymous donations: a specified rate applied to anonymous donations exceeding the higher of a percentage of total donations or a fixed threshold, plus the amount of income-tax the assessee would have owed had total income been reduced by that excess; it applies to universities, educational institutions, hospitals, funds and trusts and takes effect from the fiscal year starting 1 April 2015.
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 donations taxation: excess anonymous receipts attract a separate tax plus recalculated income-tax liability.
The amendment to section 115BBC imposes a two-part tax on anonymous donations: a specified rate applied to anonymous donations exceeding the higher of a percentage of total donations or a fixed threshold, plus the amount of income-tax the assessee would have owed had total income been reduced by that excess; it applies to universities, educational institutions, hospitals, funds and trusts and takes effect from the fiscal year starting 1 April 2015.
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